Guideline Value for GOODWILL APPARTMENTS (Mogappir Road)

GOODWILL APPARTMENTS (Mogappir Road) guideline value

The current guideline value for GOODWILL APPARTMENTS (Mogappir Road) is Rs 9,900 per sq.ft, effective from 1 July 2024. This property is located in Padi village, under the Villivakkam SRO, and is classified as Residential Special Type - II.

How the guideline value of GOODWILL APPARTMENTS (Mogappir Road) has changed

The guideline value for GOODWILL APPARTMENTS has undergone several revisions over the years. The 2012 revision set the value at Rs 9,000 per sq.ft, which was then reduced to Rs 6,030 per sq.ft in the 2017 revision. Following this, the value increased significantly to Rs 9,000 per sq.ft in the 2023 revision, and finally rose to Rs 9,900 per sq.ft in the 2024 revision, marking a 10% increase from the previous year.

In terms of percentage changes, there was a 49% increase from the 2017 revision to the 2023 revision. The 2012 to 2017 revision saw a decrease of 33%. Overall, from 2012 to 2024, the guideline value has increased by 10%. The register does not contain figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Padi

In Padi village, there are 354 streets under the Villivakkam SRO that carry a 2024 guideline value ranging from Rs 2,200 to Rs 13,200 per sq.ft, with a median value of Rs 3,800 per sq.ft. The guideline value for GOODWILL APPARTMENTS is above this median.

• Gopal Naidu Nagar (G.N.Nagar): Rs 2,800 per sq.ft (2024)
• GOLDEN JUBLIEE APPARTMENTS (Padikuppam Road): Rs 6,600 per sq.ft (2024)
• Gem Flats (Mogappair Road): Rs 9,900 per sq.ft (2024)
• Geethanjali Flats (7th Avenue): Rs 13,100 per sq.ft (2024)
• I.C.C.Plots: Rs 8,200 per sq.ft (2024)
• Imayam Colony: Rs 8,200 per sq.ft (2024)

Stamp duty and registration fee for property in GOODWILL APPARTMENTS (Mogappir Road)

For a 1,000 sq.ft plot at the current rate of Rs 9,900 per sq.ft, the guideline value amounts to Rs 99,00,000. The stamp duty at 7% would be Rs 6,93,000, and the registration fee at 2% would be Rs 1,98,000, totaling Rs 8,91,000. 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 GOODWILL APPARTMENTS (Mogappir Road)?

The Sub Registrar Office that covers GOODWILL APPARTMENTS (Mogappir Road) is the Villivakkam Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office. You can find your SRO for more information.

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

The guideline value plays a crucial role during the registration of property transactions in Padi. It is used to determine the stamp duty and registration fees applicable at the time of sale or purchase of property. Buyers and sellers must be aware of this value as it directly impacts the costs associated with the transaction.

When a property is sold, 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 registration fees reflect the true value of the property being transferred.

Frequently asked questions

What is the current guideline value for GOODWILL APPARTMENTS?

The current guideline value for GOODWILL APPARTMENTS (Mogappir Road) is Rs 9,900 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 9,000 per sq.ft in 2012 to Rs 6,030 per sq.ft in 2017, then to Rs 9,000 per sq.ft in 2023, and finally to Rs 9,900 per sq.ft in 2024.

What is the land classification for GOODWILL APPARTMENTS?

GOODWILL APPARTMENTS (Mogappir Road) is classified as Residential Special Type - II.

Where can I find the registration office for GOODWILL APPARTMENTS?

The registration office for GOODWILL APPARTMENTS is the Villivakkam Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.

How is stamp duty calculated for properties in Padi?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a plot valued at Rs 99,00,000, the stamp duty would be calculated at 7% of this amount.