Guideline Value for NEW MAMBAKKAM BRAMMANAR STREET

New Mambakkam Brammanar Street guideline value

The current guideline value of New Mambakkam Brammanar Street is Rs 330 per sq.ft, effective from 1 July 2024. This street is located in Mambakkam village, under the Madurandakam SRO, and is classified as Residential Class I Type - I.

How the guideline value of New Mambakkam Brammanar Street has changed

The guideline value of New Mambakkam Brammanar Street has seen several revisions over the years. In 2007, the value was Rs 80 per sq.ft, which increased significantly to Rs 300 per sq.ft in 2012, marking a 275% rise. However, this value decreased to Rs 201 per sq.ft in 2017, reflecting a 33% drop. Following this, the guideline value rose to Rs 300 per sq.ft in 2023, and then to the current value of Rs 330 per sq.ft in 2024, which is a 10% increase.

There are no figures available for the revisions in 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 313%.

Guideline values in Mambakkam

In Mambakkam, there are 26 streets under the Madurandakam SRO that carry a 2024 guideline value ranging from Rs 330 to Rs 770 per sq.ft, with the median value being Rs 330 per sq.ft. The guideline value of New Mambakkam Brammanar Street aligns with this median.

• New Mambakkam Bajanai Koil Street: Rs 330 per sq.ft (2024)
• New Mambakkam Sunambedu Road: Rs 385 per sq.ft (2024)
• Old Mambakkam Brammanar Street, New Colony: Rs 330 per sq.ft (2024)
• Old Mambakkam Gandhi Street: Rs 385 per sq.ft (2024)
• Old Mambakkam Old Brammanar Street, Jayanagar: Rs 330 per sq.ft (2024)
• Old Mambakkam Ora Veedhi Street: Rs 330 per sq.ft (2024)

Stamp duty and registration fee for property in New Mambakkam Brammanar Street

For a 1,000 sq.ft plot at the current rate of Rs 330 per sq.ft, the guideline value amounts to Rs 3,30,000. The stamp duty at 7% would be Rs 23,100, and the registration fee at 2% would be Rs 6,600, totaling Rs 29,700. It’s important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers New Mambakkam Brammanar Street?

The Sub Registrar Office that covers New Mambakkam Brammanar Street is the Madurandakam Sub Registrar Office, located at No.53, Old Taluk Office Road, Maduranthakam-603306, Chengalpattu registration zone.

You can find your SRO for more information.

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

The guideline value is an essential factor in property transactions in Mambakkam. It serves as a benchmark for determining the minimum value at which a property can be registered. When a buyer and seller agree on a sale price, the registration process will consider the higher of the guideline value or the agreed sale price for calculating stamp duty and registration fees.

Understanding the guideline value helps both buyers and sellers navigate the property market more effectively. It ensures that the transaction is compliant with local regulations and helps in estimating the financial obligations involved in the registration process.

Frequently asked questions

What is the current guideline value of New Mambakkam Brammanar Street?

The current guideline value of New Mambakkam Brammanar Street is Rs 330 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 80 per sq.ft in 2007 to Rs 330 per sq.ft in 2024, reflecting an overall increase of 313% over the years.

What are the other streets with a similar guideline value in Mambakkam?

Other streets in Mambakkam with a similar guideline value of Rs 330 per sq.ft include New Mambakkam Bajanai Koil Street, Old Mambakkam Brammanar Street, New Colony, Old Mambakkam Old Brammanar Street, and Old Mambakkam Ora Veedhi Street.

What is the stamp duty rate for property in New Mambakkam Brammanar Street?

The stamp duty rate for property in New Mambakkam Brammanar Street is 7% of the guideline value or the sale price, whichever is higher.

Where can I find the Sub Registrar Office for New Mambakkam Brammanar Street?

The Sub Registrar Office for New Mambakkam Brammanar Street is the Madurandakam Sub Registrar Office, located at No.53, Old Taluk Office Road, Maduranthakam-603306, Chengalpattu registration zone.