Guideline Value for OLD MAMBAKKAM ORA VEEDHI STREET

Old Mambakkam Ora Veedhi Street guideline value

The current guideline value of Old Mambakkam Ora Veedhi Street is Rs 330 per sq.ft, effective from 1 July 2024. This street is located in Mambakkam village and falls under the Madurandakam SRO. The land classification for this area is Residential Class I Type - I.

How the guideline value of Old Mambakkam Ora Veedhi Street has changed

The guideline value for Old Mambakkam Ora Veedhi Street has seen several revisions over the years. In the 2007 revision, the value was set at Rs 60 per sq.ft, which increased significantly to Rs 300 per sq.ft in the 2012 revision, marking a 400% rise. However, the value dropped to Rs 201 per sq.ft in the 2017 revision, reflecting a decrease of 33%. The subsequent 2023 revision raised the value to Rs 300 per sq.ft, and the latest revision in 2024 has increased it further to Rs 330 per sq.ft, representing a 10% increase from the previous year.

Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 450%. Notably, the register has no figures for the years 2002 and 2003 for this street.

Guideline values in Mambakkam

In Mambakkam, there are 26 streets under the Madurandakam SRO that have a guideline value for 2024, which ranges from Rs 330 to Rs 770 per sq.ft, with a median value of Rs 330 per sq.ft. The guideline value for Old Mambakkam Ora Veedhi Street aligns with this median.

• Old Mambakkam Old Brammanar Street, Jayanagar: Rs 330 per sq.ft (2024)
• Old Mambakkam Sunambedu Road: Rs 330 per sq.ft (2024)
• Old Mambakkam Gandhi Street: Rs 385 per sq.ft (2024)
• Old Mambakkam Brammanar Street, New Colony: Rs 330 per sq.ft (2024)
• Om Sakthi Avenue: Rs 770 per sq.ft (2024)
• New Mambakkam Sunambedu Road: Rs 385 per sq.ft (2024)

Stamp duty and registration fee for property in Old Mambakkam Ora Veedhi Street

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

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

Which Sub Registrar Office covers Old Mambakkam Ora Veedhi Street?

The Sub Registrar Office that covers Old Mambakkam Ora Veedhi 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 further assistance.

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

The guideline value is a crucial factor during property transactions in Mambakkam, as it determines the base for calculating stamp duty and registration fees. When a property is sold or purchased, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties and fees.

Understanding the guideline value is essential for both buyers and sellers, as it impacts the overall cost of property transactions. It is advisable to check the latest guideline values before engaging in any property dealings.

Frequently asked questions

What is the current guideline value of Old Mambakkam Ora Veedhi Street?

The current guideline value of Old Mambakkam Ora Veedhi 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 significantly, increasing from Rs 60 per sq.ft in 2007 to Rs 330 per sq.ft in 2024, which is a 450% overall increase.

What is the land classification for Old Mambakkam Ora Veedhi Street?

The land classification for Old Mambakkam Ora Veedhi Street is Residential Class I Type - I.

Where can I find the Sub Registrar Office for this street?

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

How is the stamp duty calculated for properties in Mambakkam?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, for a property valued at Rs 3,30,000, the stamp duty would be Rs 23,100 at a rate of 7%.