Guideline Value for EZHIL MUGA NAGAR

Ezhil Muga Nagar guideline value

The current guideline value of Ezhil Muga Nagar is Rs 1,100 per sq.ft, effective from 1 July 2024. This area is located in Chemmancheri village, under the Neelankarai SRO, and is classified as Residential Class IV Type - II.

How the guideline value of Ezhil Muga Nagar has changed

The guideline value for Ezhil Muga Nagar has seen several revisions over the years. In 2012, the value was set at Rs 1,000 per sq.ft. This figure remained until 2017 when it decreased to Rs 670 per sq.ft. Following this, the value increased significantly to Rs 1,000 per sq.ft in 2023, and then further rose to Rs 1,100 per sq.ft in the 2024 revision. The register has no figures for the years 2002, 2003, and 2007.

In terms of percentage changes, the value increased by 49% from 2017 to 2023, and by 10% from 2023 to 2024. However, there was a decrease of 33% from 2012 to 2017. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Chemmancheri

In Chemmancheri village, there are 195 streets under the Neelankarai SRO that carry a 2024 guideline value ranging from Rs 1,000 to Rs 6,600 per sq.ft, with a median value of Rs 1,700 per sq.ft. Ezhil Muga Nagar's 2024 figure is below this median.

• Fathimabevi Garden: Rs 1,100 per sq.ft (2024)
• Gabirel Estate: Rs 1,000 per sq.ft (2024)
• Ganapathy Garden: Rs 1,000 per sq.ft (2024)
• Ganapathy Nagar: Rs 1,800 per sq.ft (2024)
• Ganapathy Syndicate Colony: Rs 1,700 per sq.ft (2024)
• Ellaiamman Koil Street: Rs 1,700 per sq.ft (2024)

Stamp duty and registration fee for property in Ezhil Muga Nagar

For a 1,000 sq.ft plot at the current rate of Rs 1,100 per sq.ft, the guideline value would be Rs 11,00,000. The stamp duty at 7% would amount to Rs 77,000, and the registration fee at 2% would be Rs 22,000, totaling Rs 99,000. Please note that 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 Ezhil Muga Nagar?

The Sub Registrar Office that covers Ezhil Muga Nagar is the Neelankarai Sub Registrar Office, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor during the registration of property transactions in Chemmancheri. It serves as a benchmark for calculating the stamp duty and registration fees that buyers must pay when acquiring property.

When a property is sold, the guideline value ensures that the transaction is recorded at a fair value, which helps in maintaining transparency in property dealings. It is essential for buyers and sellers to be aware of the current guideline value to ensure compliance with legal requirements during the registration process.

Frequently asked questions

What is the current guideline value of Ezhil Muga Nagar?

The current guideline value of Ezhil Muga Nagar is Rs 1,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,000 per sq.ft in 2012 to Rs 670 per sq.ft in 2017, then increased to Rs 1,000 per sq.ft in 2023, and finally to Rs 1,100 per sq.ft in 2024.

What is the land classification for Ezhil Muga Nagar?

Ezhil Muga Nagar is classified as Residential Class IV Type - II.

Where can I find the Sub Registrar Office for Ezhil Muga Nagar?

The Sub Registrar Office for Ezhil Muga Nagar is the Neelankarai Sub Registrar Office, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.

How is stamp duty calculated for properties in Ezhil Muga Nagar?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at Rs 1,100 per sq.ft, the total guideline value would be Rs 11,00,000, leading to a stamp duty of Rs 77,000.