Guideline Value for Himatchal Nagar Phase II

Himatchal Nagar Phase II guideline value

The current guideline value for Himatchal Nagar Phase II is Rs 3,190 per sq.ft, effective from 1 July 2024. This area is located in Madanandapuram village under the Kunrathur SRO, classified as Residential Special Type - III.

How the guideline value of Himatchal Nagar Phase II has changed

The guideline value for Himatchal Nagar Phase II has seen several revisions over the years. The 2012 revision set the value at Rs 2,900 per sq.ft, which was then reduced by 33% to Rs 1,943 per sq.ft in the 2017 revision. Following this, the 2023 revision increased the value significantly to Rs 2,900 per sq.ft, and the most recent 2024 revision has set it at Rs 3,190 per sq.ft, reflecting a 10% increase from the previous year.

Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 10%. There are no figures available for the revisions in 2002, 2003, and 2007 for this street.

Guideline values in Madanandapuram

Madanandapuram has 94 streets under the Kunrathur SRO, with guideline values ranging from Rs 2,530 to Rs 5,830 per sq.ft as of 2024. The median value for these streets is Rs 3,520 per sq.ft, placing the guideline value for Himatchal Nagar Phase II below this median.

• Himachal Nagar Annex: Rs 3,190 per sq.ft (2024)
• Himachal Nagar: Rs 3,190 per sq.ft (2024)
• Gurusamy Nagar: Rs 3,960 per sq.ft (2024)
• G.K. Nagar: Rs 3,190 per sq.ft (2024)
• Jayalakshmi Nagar: Rs 3,190 per sq.ft (2024)
• E,.V.P. Santhosh Nagar Extension II: Rs 3,960 per sq.ft (2024)

Stamp duty and registration fee for property in Himatchal Nagar Phase II

For a 1,000 sq.ft plot at the current guideline value of Rs 3,190 per sq.ft, the total guideline value would be Rs 31,90,000. The stamp duty at 7% would amount to Rs 2,23,300, and the registration fee at 2% would be Rs 63,800, bringing the total to Rs 2,87,100. It is important to note that 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 Himatchal Nagar Phase II?

The Sub Registrar Office that covers Himatchal Nagar Phase II is the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069. You can find your SRO for more information.

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

The guideline value is a crucial factor when registering property transactions in Madanandapuram. It serves as a benchmark for calculating stamp duty and registration fees, ensuring that both buyers and sellers are aware of the official valuation of the property.

When a property is bought or sold, the registration office uses the guideline value to determine the applicable fees. This helps maintain transparency in property transactions and ensures that all parties are adhering to the legal requirements set forth by the Registration Department.

Frequently asked questions

What is the current guideline value of Himatchal Nagar Phase II?

The current guideline value of Himatchal Nagar Phase II is Rs 3,190 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,900 per sq.ft in 2012 to Rs 1,943 per sq.ft in 2017, then increased to Rs 2,900 per sq.ft in 2023, and finally to Rs 3,190 per sq.ft in 2024.

What is the median guideline value in Madanandapuram?

The median guideline value in Madanandapuram is Rs 3,520 per sq.ft as of 2024, with Himatchal Nagar Phase II's value being below this median.

What are the stamp duty and registration fees for properties in Himatchal Nagar Phase II?

For a property valued at Rs 31,90,000, the stamp duty would be Rs 2,23,300, and the registration fee would be Rs 63,800, totaling Rs 2,87,100.

Where is the Sub Registrar Office for Himatchal Nagar Phase II located?

The Kunrathur Sub Registrar Office is located at No.59, Road Street, Kundrathur, Chennai -600 069, and it covers the registration for Himatchal Nagar Phase II.