Guideline Value for Hospital Nagar

Hospital Nagar guideline value

The current guideline value of Hospital Nagar is Rs 660 per sq.ft, effective from 1 July 2024. This area is located in Mathuranthagam village under the Madurandakam SRO and is classified as Residential Special Type - III.

How the guideline value of Hospital Nagar has changed

The guideline value for Hospital Nagar has undergone several revisions over the years. The earliest recorded figure is from 2007, set at Rs 80 per sq.ft. This value increased significantly to Rs 600 per sq.ft in 2012, marking a substantial rise of 650%. However, it then decreased to Rs 402 per sq.ft in 2017, representing a decline of 33%. The value saw a notable increase to Rs 600 per sq.ft in 2023, followed by another rise to Rs 660 per sq.ft in 2024, which is a 10% increase from the previous year. The register has no figures for the years 2002 and 2003.

Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 725%. The 2024 figure of Rs 660 per sq.ft is below the median guideline value of Rs 1,100 per sq.ft for the 109 streets in Mathuranthagam under the Madurandakam SRO.

Guideline values in Mathuranthagam

In Mathuranthagam, the guideline values for various streets vary significantly, with figures ranging from Rs 440 to Rs 1,480 per sq.ft in 2024. Hospital Nagar's value is lower than the median of Rs 1,100 per sq.ft. Below are the guideline values for other streets in Mathuranthagam:

• Hospital Road: Rs 1,110 per sq.ft (2024)
• Indhira Nagar: Rs 1,110 per sq.ft (2024)
• Gst Road Bazaar Street: Rs 1,110 per sq.ft (2024)
• Jayam Nagar: Rs 1,110 per sq.ft (2024)
• Gokulam Nagar: Rs 555 per sq.ft (2024)
• Gandhinagar Periya Colony: Rs 660 per sq.ft (2024)

Stamp duty and registration fee for property in Hospital Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 660 per sq.ft, the total guideline value would be Rs 6,60,000. The stamp duty at 7% would amount to Rs 46,200, and the registration fee at 2% would be Rs 13,200, bringing the total cost for these fees to Rs 59,400. It is important to note that the 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 Hospital Nagar?

The Sub Registrar Office that covers Hospital Nagar 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 Mathuranthagam

The guideline value is a crucial factor when registering property transactions in Mathuranthagam. It serves as a benchmark for calculating stamp duty and registration fees, ensuring that these costs are based on the official value set by the government.

When buying or selling property, the guideline value helps both parties understand the minimum value at which the property can be registered. This ensures transparency and compliance with legal requirements during the transaction process.

Frequently asked questions

What is the current guideline value of Hospital Nagar?

The current guideline value of Hospital Nagar is Rs 660 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 80 per sq.ft in 2007 to Rs 660 per sq.ft in 2024, marking an overall increase of 725% over the years.

What is the land classification for Hospital Nagar?

Hospital Nagar is classified as Residential Special Type - III, indicating its designated use for residential purposes.

What are the stamp duty and registration fees for a property in Hospital Nagar?

For a property valued at Rs 6,60,000, the stamp duty would be Rs 46,200 and the registration fee would be Rs 13,200, totaling Rs 59,400.

Which office handles property registrations for Hospital Nagar?

The Madurandakam Sub Registrar Office handles property registrations for Hospital Nagar, located at No.53, Old Taluk Office Road, Maduranthakam-603306, Chengalpattu registration zone.