Guideline Value for Hospital Street

Hospital Street guideline value

The current guideline value of Hospital Street in Thirumangalam village, under the Sunguvarchattram SRO, is Rs 300 per sq.ft, effective from 1 July 2024. The land classification for this street is Residential Class II Type - I.

How the guideline value of Hospital Street has changed

Hospital Street's guideline value has seen several revisions over the years. The 2012 revision set the value at Rs 300 per sq.ft, which remained unchanged in the 2017 revision. However, the 2017 revision marked a decrease from Rs 201 per sq.ft in 2017 to Rs 300 per sq.ft in 2012. The 2023 revision maintained the value at Rs 300 per sq.ft, and the 2024 revision also kept it the same.

Between the revisions, the most notable change occurred from 2017 to 2023, where the value increased by 49%. Despite this, the overall change from 2012 to 2024 shows no increase, remaining consistent at Rs 300 per sq.ft. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Thirumangalam

In Thirumangalam village, there are 42 streets under the Sunguvarchattram SRO that carry a 2024 guideline value, ranging from Rs 250 to Rs 2,000 per sq.ft. The median for these streets is Rs 605 per sq.ft, placing Hospital Street's 2024 figure below that median.

• Iswarya Nagar: Rs 605 per sq.ft (2024)
• Eri Street: Rs 250 per sq.ft (2024)
• Kent Grdern: Rs 2,000 per sq.ft (2024)
• Kulakarai IInd Street: Rs 700 per sq.ft (2024)
• Kulakarai Ist street: Rs 700 per sq.ft (2024)
• Kuravar Street: Rs 605 per sq.ft (2024)

Stamp duty and registration fee for property in Hospital Street

For a 1,000 sq.ft plot at the current guideline value of Rs 300 per sq.ft, the total guideline value would be Rs 3,00,000. The stamp duty at 7% would amount to Rs 21,000, and the registration fee at 2% would be Rs 6,000, making the total Rs 27,000. 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 Street?

The Sub Registrar Office that covers Hospital Street is the Sunguvarchattram Sub Registrar Office, located at Vadivamal Nagar Kandigai Road Caparo Company Opp, Sunguvarchatram, Chengalpattu registration zone. To locate your SRO, visit find your SRO.

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

The guideline value plays a crucial role during property transactions in Thirumangalam. It serves as a benchmark for determining the stamp duty and registration fees applicable when registering a property. Buyers and sellers must consider this value to ensure compliance with local regulations and to avoid any legal issues during the transfer of property ownership.

When a property is sold, the guideline value is used to calculate the applicable duties. It is essential for both buyers and sellers to be aware of these values to facilitate a smooth transaction process and to ensure that all financial obligations are met according to the regulations set by the Registration Department.

Frequently asked questions

What is the current guideline value of Hospital Street?

The current guideline value of Hospital Street is Rs 300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has remained at Rs 300 per sq.ft since 2012, with a notable increase of 49% from Rs 201 per sq.ft in 2017 to Rs 300 per sq.ft in 2023. The value has not changed between 2023 and 2024.

What is the median guideline value for streets in Thirumangalam?

The median guideline value for streets in Thirumangalam is Rs 605 per sq.ft for the year 2024, with Hospital Street's value being below this median.

Where can I find the Sub Registrar Office for Hospital Street?

The Sub Registrar Office for Hospital Street is the Sunguvarchattram Sub Registrar Office, located at Vadivamal Nagar Kandigai Road Caparo Company Opp, Sunguvarchatram, Chengalpattu registration zone.

How is stamp duty calculated for properties in Hospital Street?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property with a guideline value of Rs 3,00,000, the stamp duty at 7% would be Rs 21,000.