Guideline Value for NEW MAMBAKKAM SUNAMBEDU ROAD

New Mambakkam Sunambedu Road guideline value

The current guideline value of New Mambakkam Sunambedu Road is Rs 385 per sq.ft, effective from 1 July 2024. This road is located in Mambakkam village under the Madurandakam SRO, classified as Residential Special Type - I.

How the guideline value of New Mambakkam Sunambedu Road has changed

The guideline value for New Mambakkam Sunambedu Road has undergone several revisions over the years. In 2007, the value was Rs 100 per sq.ft, which saw a significant increase to Rs 700 per sq.ft in 2012. However, this value decreased to Rs 469 per sq.ft in 2017, marking a decline of 33%. The next revision in 2023 set the value at Rs 350 per sq.ft, a further decrease of 25%. The most recent revision in 2024 has raised the guideline value to Rs 385 per sq.ft, reflecting an increase of 10% from the previous year.

It is important to note that the register has no figures for the years 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 285%.

Guideline values in Mambakkam

Mambakkam village has 26 streets under the Madurandakam SRO that carry a 2024 guideline value ranging from Rs 330 to Rs 770 per sq.ft, with a median value of Rs 330 per sq.ft. The guideline value of New Mambakkam Sunambedu Road is above this median.

• New Mambakkam Brammanar Street: Rs 330 per sq.ft (2024)
• New Mambakkam Bajanai Koil Street: Rs 330 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 Sunambedu Road

For a 1,000 sq.ft plot at the current rate, the guideline value would be Rs 3,85,000. The stamp duty at 7% would amount to Rs 26,950, while the registration fee at 2% would be Rs 7,700, totaling Rs 34,650. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers New Mambakkam Sunambedu Road?

The Sub Registrar Office that covers New Mambakkam Sunambedu Road 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 a critical factor in the registration process when buying or selling property in Mambakkam. It serves as a benchmark for determining the stamp duty and registration fees applicable to a property transaction.

When a property is registered, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of New Mambakkam Sunambedu Road?

The current guideline value of New Mambakkam Sunambedu Road is Rs 385 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 100 per sq.ft in 2007 to Rs 385 per sq.ft in 2024, reflecting an overall increase of 285% over the years.

What are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 3,85,000, the stamp duty would be Rs 26,950 and the registration fee would be Rs 7,700, totaling Rs 34,650.

Which office handles property registrations in Mambakkam?

The Madurandakam Sub Registrar Office handles property registrations in Mambakkam, located at No.53, Old Taluk Office Road, Maduranthakam-603306.

What is the land classification for New Mambakkam Sunambedu Road?

The land classification for New Mambakkam Sunambedu Road is Residential Special Type - I.