Guideline Value for High Quality City

High Quality City guideline value

The current guideline value of High Quality City in Morapakkam village is Rs 100 per sq.ft, effective from 1 July 2024. This area falls under the Madurandakam Sub Registrar Office and is classified as Residential Class I Type - I.

How the guideline value of High Quality City has changed

The guideline value for High Quality City has undergone several revisions over the years. In 2007, the value was Rs 50 per sq.ft, which increased to Rs 70 per sq.ft in 2012. However, there was a decrease to Rs 47 per sq.ft in 2017. The most recent revisions in 2023 and 2024 have stabilized the value at Rs 100 per sq.ft, showing no change between these two years. The register has no figures for the years 2002 and 2003 for this street.

From 2017 to 2023, there was a significant increase of 113%, while the change from 2012 to 2017 saw a decrease of 33%. The increase from 2007 to 2012 was 40%. Overall, from 2007 to 2024, the guideline value has increased by 100%.

Guideline values in Morapakkam

In Morapakkam village, there are 12 streets under the Madurandakam SRO that carry a 2024 guideline value ranging from Rs 100 to Rs 400 per sq.ft, with a median of Rs 200 per sq.ft. The guideline value for High Quality City is below this median.

• J K Avenue: Rs 200 per sq.ft (2024)
• Krishna Avenue Extension-I: Rs 200 per sq.ft (2024)
• Krishna Avenue Ext - I: Rs 200 per sq.ft (2024)
• Krishna Nagar: Rs 200 per sq.ft (2024)
• Anandam Garden: Rs 200 per sq.ft (2024)
• Roja Nagar Part -I: Rs 100 per sq.ft (2024)

Stamp duty and registration fee for property in High Quality City

For a 1,000 sq.ft plot at the current guideline value of Rs 100 per sq.ft, the total guideline value would be Rs 1,00,000. The stamp duty at 7% would be Rs 7,000, and the registration fee at 2% would be Rs 2,000, making the total cost Rs 9,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers High Quality City?

The Sub Registrar Office that covers High Quality City is the Madurandakam Sub Registrar Office, located at No.53, Old Taluk Office Road, Maduranthakam-603306, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a critical factor during the registration of property transactions in Morapakkam. It serves as the baseline for calculating stamp duty and registration fees, ensuring that the government receives the appropriate revenue from property sales.

When buying or selling property, it is essential to understand that the guideline value may influence the price negotiations between buyers and sellers. However, the final transaction must be registered at the Sub Registrar Office based on this value or the actual sale price, whichever is higher.

Frequently asked questions

What is the current guideline value of High Quality City?

The current guideline value of High Quality City in Morapakkam village is Rs 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 50 per sq.ft in 2007 to Rs 100 per sq.ft in 2024, showing an overall increase of 100% over this period.

What are the stamp duty and registration fees for property transactions?

For a property valued at Rs 1,00,000, the stamp duty would be Rs 7,000 and the registration fee would be Rs 2,000, totaling Rs 9,000.

Where is the Sub Registrar Office for High Quality City located?

The Madurandakam Sub Registrar Office is located at No.53, Old Taluk Office Road, Maduranthakam-603306, Chengalpattu registration zone.

What is the significance of the guideline value in property transactions?

The guideline value is used to determine the stamp duty and registration fees during property transactions. It serves as a reference point for both buyers and sellers in the registration process.