Guideline Value for Mugalivakkam Road

Mugalivakkam Road guideline value

The current guideline value of Mugalivakkam Road, located in Madanandapuram village under the Kunrathur SRO, is Rs 5,830 per sq.ft, effective from 1 July 2024. The land classification for this area is Commercial Class I Type - I.

How the guideline value of Mugalivakkam Road has changed

The guideline value for Mugalivakkam Road has seen significant changes over the years. The 2007 revision recorded a value of Rs 600 per sq.ft, which rose dramatically to Rs 5,300 per sq.ft in 2012, marking an increase of 783%. However, this value decreased by 33% to Rs 3,551 per sq.ft in 2017. The subsequent revision in 2023 saw a substantial increase of 49%, bringing the value to Rs 5,300 per sq.ft, and the latest revision in 2024 has set the value at Rs 5,830 per sq.ft, a 10% increase from the previous year.

It is important to note that there are no figures available for the revisions in 2002 and 2003 for Mugalivakkam Road. Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 872%.

Guideline values in Madanandapuram

In Madanandapuram village, there are 94 streets under the Kunrathur SRO that carry a 2024 guideline value ranging from Rs 2,530 to Rs 5,830 per sq.ft. The median value for these streets is Rs 3,520 per sq.ft, indicating that the guideline value for Mugalivakkam Road is above this median.

• M.S.Nagar Part IV: Rs 3,520 per sq.ft (2024)
• Muthu Mari Amman Annex: Rs 3,520 per sq.ft (2024)
• Muthu Nagar: Rs 3,520 per sq.ft (2024)
• Maran Avenue: Rs 3,960 per sq.ft (2024)
• Mangala Lakshmi Nagar: Rs 3,520 per sq.ft (2024)
• Mahalakshmi Nagar Annuxe/ Extension: Rs 3,520 per sq.ft (2024)

Stamp duty and registration fee for property in Mugalivakkam Road

For a 1,000 sq.ft plot at the current guideline value of Rs 5,830 per sq.ft, the total guideline value amounts to Rs 58,30,000. The stamp duty at 7% would be Rs 4,08,100, and the registration fee at 2% would be Rs 1,16,600, totaling Rs 5,24,700. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Mugalivakkam Road?

The Sub Registrar Office that covers Mugalivakkam Road is the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069. You can find your SRO for more information.

How the guideline value is used when you buy or sell in Madanandapuram

The guideline value is a crucial factor in the registration process when buying or selling property in Madanandapuram. It serves as a benchmark for determining the stamp duty and registration fees that are applicable during the transaction.

When a property is registered, the guideline value is used to calculate the fees, ensuring that both the buyer and seller are aware of the financial obligations involved in the transfer of ownership.

Frequently asked questions

What is the current guideline value of Mugalivakkam Road?

The current guideline value of Mugalivakkam Road is Rs 5,830 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly, from Rs 600 per sq.ft in 2007 to Rs 5,830 per sq.ft in 2024, reflecting an overall increase of 872% over this period.

What is the land classification for Mugalivakkam Road?

The land classification for Mugalivakkam Road is Commercial Class I Type - I.

Where can I find the Kunrathur Sub Registrar Office?

The Kunrathur Sub Registrar Office is located at No.59, Road Street, Kundrathur, Chennai -600 069.

How is stamp duty calculated for properties in Mugalivakkam Road?

Stamp duty is calculated on the higher of the guideline value or the sale price. For example, a property valued at Rs 58,30,000 would incur a stamp duty of Rs 4,08,100 at 7%.