Guideline Value for Compact Homes-Megha

Compact Homes-Megha guideline value

The current guideline value of Compact Homes-Megha is Rs 1,000 per sq.ft. This property is located in Karanaithangal village, under the Sunguvarchattram SRO, and falls under the Commercial Class I Type - II land classification.

How the guideline value of Compact Homes-Megha has changed

Looking at the historical revisions, the guideline value for Compact Homes-Megha has seen several changes. The 2012 revision set the value at Rs 1,000 per sq.ft, which remained unchanged in the 2017 revision, where it was reduced to Rs 670 per sq.ft. Following this, the 2023 revision brought it back to Rs 1,000 per sq.ft, maintaining that value into the 2024 revision, which also stands at Rs 1,000 per sq.ft. The register has no figure for the years 2002, 2003, and 2007 for this street.

In terms of percentage changes, from 2012 to 2017, there was a decrease of 33%. However, from 2017 to 2023, the value increased by 49%. Overall, from 2012 to 2024, the guideline value has remained unchanged at Rs 1,000 per sq.ft.

Guideline values in Karanaithangal

In Karanaithangal, there are 17 streets under the Sunguvarchattram SRO that carry a 2024 guideline value, ranging from Rs 471 to Rs 1,000 per sq.ft, with a median value of Rs 500 per sq.ft. The guideline value for Compact Homes-Megha is above this median.

• Compact Homes-Madhulika: Rs 1,000 per sq.ft (2024)
• Compact Homes-Vasanthaa: Rs 1,000 per sq.ft (2024)
• Compact Homs-Atana: Rs 1,000 per sq.ft (2024)
• Amman Koil Street: Rs 500 per sq.ft (2024)
• Ambethkar Street: Rs 500 per sq.ft (2024)
• JanRathinam Nagar: Rs 600 per sq.ft (2024)

Stamp duty and registration fee for property in Compact Homes-Megha

For a 1,000 sq.ft plot at the current guideline value of Rs 1,000 per sq.ft, the total guideline value amounts to Rs 10,00,000. The stamp duty at 7% would be Rs 70,000, and the registration fee at 2% would be Rs 20,000, bringing the total cost for these fees to Rs 90,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Compact Homes-Megha?

The Sub Registrar Office that covers Compact Homes-Megha is the Sunguvarchattram Sub Registrar Office, located at Vadivamal Nagar Kandigai Road, opposite Caparo Company, Sunguvarchatram, Chengalpattu registration zone.

You can find your SRO for more information.

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

When buying or selling property in Karanaithangal, the guideline value plays a crucial role in determining the stamp duty and registration fees. The guideline value serves as a benchmark for the minimum price at which the property can be registered, ensuring that the government receives appropriate revenue from property transactions.

It is essential for buyers and sellers to be aware of the current guideline value, as it affects the overall cost of the transaction, including the fees payable at the time of registration. Understanding these values helps in making informed decisions during property dealings.

Frequently asked questions

What is the current guideline value for Compact Homes-Megha?

The current guideline value for Compact Homes-Megha is Rs 1,000 per sq.ft, effective from the 2024 revision.

How has the guideline value changed over the years?

The guideline value has remained at Rs 1,000 per sq.ft since the 2012 revision, decreased to Rs 670 per sq.ft in 2017, and was raised back to Rs 1,000 per sq.ft in both the 2023 and 2024 revisions.

What is the land classification for Compact Homes-Megha?

Compact Homes-Megha falls under the Commercial Class I Type - II land classification.

What are the stamp duty and registration fees for a property in Compact Homes-Megha?

For a 1,000 sq.ft property at the guideline value of Rs 1,000 per sq.ft, the total guideline value is Rs 10,00,000, leading to a stamp duty of Rs 70,000 and a registration fee of Rs 20,000, totaling Rs 90,000.

Which office handles the registration for Compact Homes-Megha?

The Sunguvarchattram Sub Registrar Office handles the registration for Compact Homes-Megha, located at Vadivamal Nagar Kandigai Road, opposite Caparo Company, Sunguvarchatram, Chengalpattu registration zone.