Guideline Value for Golden George Rathinam Salai

Golden George Rathinam Salai guideline value

The current guideline value of Golden George Rathinam Salai is Rs 7,100 per sq.ft, effective from 1 July 2024. This street is located in Mugappair village and falls under the Konnur Sub Registrar Office (SRO). The land classification for this area is Residential Special Type - I.

How the guideline value of Golden George Rathinam Salai has changed

The guideline value for Golden George Rathinam Salai has seen several revisions over the years. The earliest recorded value in 2002 was Rs 371 per sq.ft, which increased to Rs 715 per sq.ft in 2003. Following this, the value rose significantly to Rs 2,000 per sq.ft in 2007, and then to Rs 6,500 per sq.ft in 2012. However, it decreased to Rs 4,355 per sq.ft in 2017. The value then increased to Rs 6,500 per sq.ft in 2023 before reaching the current figure of Rs 7,100 per sq.ft in 2024.

Between the revisions, the most notable changes occurred from 2007 to 2012, where there was a 225% increase, and from 2012 to 2017, where there was a decrease of 33%. The guideline value increased by 49% from 2017 to 2023, and most recently, it rose by 9% from 2023 to 2024. Overall, from 2002 to 2024, the guideline value has increased by 1814%.

Guideline values in Mugappair

In Mugappair, there are 224 streets under the Konnur SRO with a 2024 guideline value ranging from Rs 3,300 to Rs 8,800 per sq.ft. The median value for these streets is Rs 7,100 per sq.ft, placing Golden George Rathinam Salai at the median value for 2024.

• Golden George Nagar Vasantha Sreet: Rs 7,100 per sq.ft (2024)
• Golden George Nagar Thirumathi Checheli Pushpam Street: Rs 7,100 per sq.ft (2024)
• Golden George Nagar & Street: Rs 7,100 per sq.ft (2024)
• Golden George Nagar Srinivasan Street: Rs 7,100 per sq.ft (2024)
• Golden George Nagar S. Ettiappan Street: Rs 7,100 per sq.ft (2024)
• Golden George Nagar Samson Saroja Street: Rs 7,100 per sq.ft (2024)

Stamp duty and registration fee for property in Golden George Rathinam Salai

For a property measuring 1,000 sq.ft at the current guideline value of Rs 7,100 per sq.ft, the total guideline value would be Rs 71,00,000. The stamp duty at 7% would amount to Rs 4,97,000, while the registration fee at 2% would be Rs 1,42,000. Together, the total cost would be Rs 6,39,000. 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 Golden George Rathinam Salai?

The Sub Registrar Office that covers Golden George Rathinam Salai is the Konnur Sub Registrar Office, located at Villivakkam Panchayat, Union Office Complex, Dunlop Bus Stop, Ambattur, Chennai. You can find your SRO for more information.

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

The guideline value is a crucial factor during the registration of property transactions in Mugappair. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid. Buyers and sellers must be aware of this value to ensure compliance with the legal requirements during property transactions.

When a property is sold, the guideline value is used to calculate the applicable charges, ensuring that both parties are aware of the financial implications. It is essential for buyers to check the guideline value before proceeding with any transaction to avoid unexpected costs.

Frequently asked questions

What is the current guideline value for Golden George Rathinam Salai?

The current guideline value for Golden George Rathinam Salai is Rs 7,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has experienced several revisions, starting from Rs 371 per sq.ft in 2002 to the current value of Rs 7,100 per sq.ft in 2024, marking an overall increase of 1814%.

What is the median guideline value for streets in Mugappair?

The median guideline value for streets in Mugappair is Rs 7,100 per sq.ft, which is the same as the current value for Golden George Rathinam Salai.

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

For a property valued at Rs 71,00,000, the stamp duty would be Rs 4,97,000 and the registration fee would be Rs 1,42,000, totaling Rs 6,39,000.

Where is the Konnur Sub Registrar Office located?

The Konnur Sub Registrar Office is located at Villivakkam Panchayat, Union Office Complex, Dunlop Bus Stop, Ambattur, Chennai.