Guideline Value for Mugunthan Street

Mugunthan Street guideline value

The current guideline value of Mugunthan Street is Rs 3,600 per sq.ft, effective from 1 July 2024. This street is located in Ambattur village, under the Ambattur SRO, and is classified as Residential Class I Type - I.

How the guideline value of Mugunthan Street has changed

The guideline value for Mugunthan Street has undergone several revisions over the years. The 2012 revision recorded a value of Rs 3,300 per sq.ft, which then decreased to Rs 2,211 per sq.ft in the 2017 revision. Following this, the value increased significantly to Rs 3,300 per sq.ft in the 2023 revision, and then to Rs 3,600 per sq.ft in the 2024 revision.

In terms of percentage changes, the value rose by 49% from 2017 to 2023, and by 9% from 2023 to 2024. Overall, from 2012 to 2024, the guideline value increased by 9%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Ambattur

In Ambattur village, there are 448 streets under the Ambattur SRO, with guideline values ranging from Rs 1,400 to Rs 8,209 per sq.ft. The median guideline value is Rs 3,600 per sq.ft, which is equal to the current value of Mugunthan Street.

• M.T.H.Road(Segment)(Police Station to Indl. Estate): Rs 6,500 per sq.ft (2024)
• M.T.H Road: Rs 6,500 per sq.ft (2024)
• Mounasamy madam Street: Rs 5,100 per sq.ft (2024)
• Murugappa iyer St.: Rs 3,000 per sq.ft (2024)
• Murugappa reddy 1st Street: Rs 3,000 per sq.ft (2024)
• Murugappa reddy 2nd Street: Rs 3,000 per sq.ft (2024)

Stamp duty and registration fee for property in Mugunthan Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,600 per sq.ft, the total guideline value would be Rs 36,00,000. The stamp duty at 7% would amount to Rs 2,52,000, while the registration fee at 2% would be Rs 72,000, bringing the total to Rs 3,24,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Mugunthan Street?

The Sub Registrar Office that covers Mugunthan Street is the Ambattur Sub Registrar Office, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone.

You can find your SRO for more information.

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

The guideline value is a crucial factor when buying or selling property in Ambattur, as it determines the minimum value at which a property can be registered. Buyers must consider this value when negotiating the sale price to ensure compliance with local regulations.

At the time of registration, the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Mugunthan Street?

The current guideline value of Mugunthan Street is Rs 3,600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 3,300 per sq.ft in 2012 to Rs 2,211 per sq.ft in 2017, then increased to Rs 3,300 per sq.ft in 2023, and finally to Rs 3,600 per sq.ft in 2024.

What are the stamp duty and registration fees for properties in Mugunthan Street?

For a property valued at Rs 36,00,000, the stamp duty would be Rs 2,52,000 and the registration fee would be Rs 72,000, totaling Rs 3,24,000.

Which Sub Registrar Office covers Mugunthan Street?

The Ambattur Sub Registrar Office covers Mugunthan Street, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone.

What is the land classification of Mugunthan Street?

Mugunthan Street is classified as Residential Class I Type - I, indicating its suitability for residential development.