Guideline Value for Goodwill Apartment

Goodwill Apartment guideline value

The current guideline value for Goodwill Apartment in Mugappair village, under the Konnur SRO, is Rs 7,100 per sq.ft, effective from 1 July 2024. This property falls under the Residential Special Type - I land classification.

How the guideline value of Goodwill Apartment has changed

The guideline value of Goodwill Apartment has seen significant changes over the years. In 2002, the guideline value was Rs 543 per sq.ft, which increased to Rs 635 per sq.ft in 2003, marking a 17% rise. The value then continued to rise to Rs 2,000 per sq.ft in 2007, reflecting a 215% increase. In 2012, it reached Rs 6,500 per sq.ft, a 225% increase from the previous revision. However, it dropped to Rs 4,355 per sq.ft in 2017, a decrease of 33% from 2012. The value then increased to Rs 6,500 per sq.ft in 2023, which was a 49% increase from 2017, before reaching the current value of Rs 7,100 per sq.ft in 2024, a 9% increase from the previous year.

There are no figures available for the revisions in years other than those listed. Overall, from 2002 to 2024, the guideline value has increased by 1208%.

Guideline values in Mugappair

In Mugappair, there are 224 streets under the Konnur SRO that carry a 2024 guideline value ranging from Rs 3,300 to Rs 8,800 per sq.ft, with the median being Rs 7,100 per sq.ft. Goodwill Apartment's guideline value aligns with this median.

• Gopal Nayakkar Nagar: Rs 3,800 per sq.ft (2024)
• Golden George Rathinam Salai: Rs 7,100 per sq.ft (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)

Stamp duty and registration fee for property in Goodwill Apartment

For a 1,000 sq.ft plot at the current guideline value of Rs 7,100 per sq.ft, the total guideline value amounts to Rs 71,00,000. The stamp duty at 7% would be Rs 4,97,000, and the registration fee at 2% would be Rs 1,42,000, making the total charges Rs 6,39,000. It is important to note that duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Goodwill Apartment?

The Goodwill Apartment is covered by the Konnur Sub Registrar Office, located at Sub Register Office, Villivakkam Panchayat, Union Office Complex, Dunlop Bus Stop, Ambattur, Chennai. To find your SRO, visit find your SRO.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Mugappair. It serves as a benchmark for determining the stamp duty and registration fees, ensuring that these costs are calculated based on the official valuation rather than the sale price alone.

When a property is registered, the guideline value is assessed to ensure compliance with local regulations. Buyers and sellers must be aware of these values to avoid any discrepancies during the transaction process.

Frequently asked questions

What is the current guideline value for Goodwill Apartment?

The current guideline value for Goodwill Apartment 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 changed significantly, increasing from Rs 543 per sq.ft in 2002 to Rs 7,100 per sq.ft in 2024, representing an overall increase of 1208%.

What is the stamp duty for property in Goodwill Apartment?

The stamp duty for property in Goodwill Apartment is calculated at 7% of the guideline value or sale price, whichever is higher.

Where is the Konnur Sub Registrar Office located?

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

What are the other streets in Mugappair with guideline values?

Other streets in Mugappair include Gopal Nayakkar Nagar, Golden George Rathinam Salai, Golden George Nagar Vasantha Sreet, Golden George Nagar Thirumathi Checheli Pushpam Street, Golden George Nagar & Street, and Golden George Nagar Srinivasan Street, with various guideline values.