Guideline Value for Domnic Nagar

Domnic Nagar guideline value

The current guideline value of Domnic Nagar, located in Molachoor village under the Sunguvarchattram SRO, is Rs 605 per sq.ft, effective from 1 July 2024. This area is classified as Residential Class III Type - I.

How the guideline value of Domnic Nagar has changed

Over the years, the guideline value of Domnic Nagar has seen several revisions. The 2012 revision set the value at Rs 400 per sq.ft, which increased slightly to Rs 402 per sq.ft in 2017. The subsequent revision in 2023 raised the guideline value to Rs 600 per sq.ft, and the most recent revision in 2024 has brought it to Rs 605 per sq.ft. The register has no figure for this street for the years 2002, 2003, and 2007.

From 2012 to 2017, the increase was minimal at 1%. However, from 2017 to 2023, there was a significant rise of 49%. The overall change from the 2012 revision to the 2024 revision is an increase of 51%.

Guideline values in Molachoor

In Molachoor, there are 112 streets under the Sunguvarchattram SRO that carry a 2024 guideline value ranging from Rs 300 to Rs 2,000 per sq.ft, with a median value of Rs 600 per sq.ft. Domnic Nagar's 2024 figure of Rs 605 per sq.ft is above this median.

• Doctor Ambethkar Street: Rs 700 per sq.ft (2024)
• Dream Land Nagar: Rs 605 per sq.ft (2024)
• Elango Street: Rs 600 per sq.ft (2024)
• Darga Street: Rs 600 per sq.ft (2024)
• Eswar Avenue: Rs 605 per sq.ft (2024)
• ETR Avenue: Rs 1,200 per sq.ft (2024)

Stamp duty and registration fee for property in Domnic Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 605 per sq.ft, the total guideline value would be Rs 6,05,000. The stamp duty at 7% would amount to Rs 42,350, and the registration fee at 2% would be Rs 12,100, making the total cost for these fees Rs 54,450. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Domnic Nagar?

The Sub Registrar Office that covers Domnic Nagar 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 Molachoor

The guideline value is a crucial factor in the registration process when buying or selling property in Molachoor. It serves as the baseline for calculating stamp duty and registration fees, ensuring that these costs reflect the official valuation of the property.

When a property is sold, the guideline value helps determine the minimum price at which the property can be registered. This ensures transparency and compliance with local regulations, as all transactions must adhere to the established guideline values.

Frequently asked questions

What is the current guideline value of Domnic Nagar?

The current guideline value of Domnic Nagar is Rs 605 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Since 2012, the guideline value has increased from Rs 400 per sq.ft to Rs 605 per sq.ft in 2024, marking an overall increase of 51% over this period.

What are the stamp duty and registration fees for properties in Domnic Nagar?

The stamp duty is charged at 7%, while the registration fee is 2% of the guideline value. For a 1,000 sq.ft plot, the total fees would amount to Rs 54,450 based on the current guideline value.

Which office handles property registrations in Domnic Nagar?

The Sunguvarchattram Sub Registrar Office is responsible for property registrations in Domnic Nagar, located on Vadivamal Nagar Kandigai Road.

What is the land classification for Domnic Nagar?

Domnic Nagar is classified as Residential Class III Type - I, indicating its designation for residential use.