Guideline Value for OLD MAMBALAM ROAD

Old Mambalam Road guideline value

The current guideline value of Old Mambalam Road is Rs 8,800 per sq.ft, effective from 1 July 2024. This street is located in Mambalam village, under the Thiyagaraya nagar SRO, and is classified as Residential Special Type - II.

How the guideline value of Old Mambalam Road has changed

The guideline value for Old Mambalam Road has seen significant changes over the years. In 2003, the value was Rs 747 per sq.ft, which increased to Rs 1,000 per sq.ft in 2007. This marked a substantial rise of 34%. By 2012, the value jumped to Rs 8,000 per sq.ft, reflecting a remarkable increase of 700%. However, in 2017, it decreased to Rs 5,360 per sq.ft, a decline of 33%. The value then rose again to Rs 8,000 per sq.ft in 2023, followed by the current value of Rs 8,800 per sq.ft, which is a 10% increase from the previous year.

Overall, from 2003 to 2024, the guideline value has increased by 1078%. It is important to note that there is no figure available for the year 2002 in the register for this street.

Guideline values in Mambalam

In Mambalam, there are 163 streets under the Thiyagaraya nagar SRO with a 2024 guideline value ranging from Rs 4,400 to Rs 22,000 per sq.ft. The median value for these streets is Rs 6,600 per sq.ft, making the current value of Old Mambalam Road above this median.

• Ottakuthar Street: Rs 5,500 per sq.ft (2024)
• Padavattamman Koil Street: Rs 4,400 per sq.ft (2024)
• Padavattamman Koil Street (West): Rs 4,400 per sq.ft (2024)
• NEW STREET (School): Rs 7,700 per sq.ft (2024)
• Palmore Street: Rs 4,400 per sq.ft (2024)
• Nethaji Street: Rs 5,500 per sq.ft (2024)

Stamp duty and registration fee for property in Old Mambalam Road

For a 1,000 sq.ft plot at the current guideline value of Rs 8,800 per sq.ft, the total guideline value would be Rs 88,00,000. The stamp duty at 7% would amount to Rs 6,16,000, and the registration fee at 2% would be Rs 1,76,000, bringing the total fees to Rs 7,92,000. 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 Old Mambalam Road?

The Sub Registrar Office that covers Old Mambalam Road is the Thiyagaraya nagar Sub Registrar Office, located at 27/14, Vetnari Hospital Road, Panpet Nandhanam, Chennai-35. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Mambalam. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the 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 Old Mambalam Road?

The current guideline value of Old Mambalam Road is Rs 8,800 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 747 per sq.ft in 2003 to Rs 8,800 per sq.ft in 2024, marking an overall increase of 1078% over this period.

What is the registration office for Old Mambalam Road?

The registration office for Old Mambalam Road is the Thiyagaraya nagar Sub Registrar Office, located at 27/14, Vetnari Hospital Road, Panpet Nandhanam, Chennai-35.

How is stamp duty calculated for properties in Old Mambalam Road?

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 88,00,000, the stamp duty at 7% would be Rs 6,16,000.

What are the other streets in Mambalam with their guideline values?

Other streets in Mambalam under the Thiyagaraya nagar SRO have varying guideline values, ranging from Rs 4,400 to Rs 22,000 per sq.ft, with several streets listed above.