Guideline Value for Thirumullaivayal Colony (Ambedkar Street)

Thirumullaivayal Colony (Ambedkar Street) guideline value

The current guideline value for Thirumullaivayal Colony (Ambedkar Street) is Rs 1,300 per sq.ft, effective from 1 July 2024. This street is located in Thirumullaivoyal village under the Ambattur SRO, and it falls under Residential Class IV Type - I land classification.

How the guideline value of Thirumullaivayal Colony (Ambedkar Street) has changed

The guideline value for Thirumullaivayal Colony (Ambedkar Street) has seen several revisions over the years. The 2012 revision set the value at Rs 1,200 per sq.ft, which remained unchanged until the 2023 revision. In 2023, the guideline value increased to Rs 1,200 per sq.ft, and then further rose to Rs 1,300 per sq.ft in the 2024 revision, marking an 8% increase from the previous year. Overall, from 2012 to 2024, the guideline value has increased by 8%.

It is important to note that there are no figures available for the revisions in 2002, 2003, 2007, and 2017 for this street. Therefore, the only relevant revisions are from 2012, 2023, and 2024.

Guideline values in Thirumullaivoyal

In Thirumullaivoyal, there are 975 streets under the Ambattur SRO that carry a 2024 guideline value, ranging from Rs 880 to Rs 5,500 per sq.ft. The median guideline value for these streets is Rs 2,400 per sq.ft, placing Thirumullaivayal Colony (Ambedkar Street) below this median.

• Thirumullaivayal Colony: Rs 1,300 per sq.ft (2024)
• Thirumullaivayal Colony Colony (Thiruvallar Street): Rs 1,300 per sq.ft (2024)
• Thirumullaivayal Colony (Iyyanar Street): Rs 1,300 per sq.ft (2024)
• Thirumullaivayal Colony (Perumalkoil Street): Rs 1,300 per sq.ft (2024)
• Thirumullaivoil Salai: Rs 1,500 per sq.ft (2024)
• Thirumanjakulam Nehru Street: Rs 1,600 per sq.ft (2024)

Stamp duty and registration fee for property in Thirumullaivayal Colony (Ambedkar Street)

For a 1,000 sq.ft plot at the current guideline value of Rs 1,300 per sq.ft, the total guideline value would be Rs 13,00,000. The stamp duty at 7% would amount to Rs 91,000, while the registration fee at 2% would be Rs 26,000. Together, the total cost for these fees would be Rs 1,17,000. 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 Thirumullaivayal Colony (Ambedkar Street)?

The Sub Registrar Office that covers Thirumullaivayal Colony (Ambedkar Street) is the Ambattur Sub Registrar Office. The address is 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 Thirumullaivoyal

The guideline value plays a crucial role in the registration process when buying or selling property. It is used to determine the stamp duty and registration fees payable at the time of registration, ensuring compliance with the legal requirements set by the state government.

When a property is sold, the guideline value is considered to assess the minimum value for which the property can be registered. This ensures that the government receives the appropriate revenue from property transactions, maintaining transparency in real estate dealings.

Frequently asked questions

What is the current guideline value for Thirumullaivayal Colony (Ambedkar Street)?

The current guideline value for Thirumullaivayal Colony (Ambedkar Street) is Rs 1,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,200 per sq.ft in 2012 to Rs 1,200 per sq.ft in 2023, and then to Rs 1,300 per sq.ft in 2024. Overall, there has been an 8% increase in the guideline value from 2012 to 2024.

What is the land classification for Thirumullaivayal Colony (Ambedkar Street)?

Thirumullaivayal Colony (Ambedkar Street) falls under Residential Class IV Type - I land classification.

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

For a property valued at Rs 13,00,000, the stamp duty would be Rs 91,000 and the registration fee would be Rs 26,000, totaling Rs 1,17,000. These fees are based on the guideline value or the sale price, whichever is higher.

Where is the Sub Registrar Office located for this street?

The Sub Registrar Office for Thirumullaivayal Colony (Ambedkar Street) is located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone.