Guideline Value for Jemi Sirumangadu New Town

Jemi Sirumangadu New Town guideline value

The current guideline value of Jemi Sirumangadu New Town is Rs 200 per sq.ft, effective from 1 July 2024. This area is located in Siru Mangadu village and falls under the Sunguvarchattram SRO. The land classification is Residential Class I Type - I.

How the guideline value of Jemi Sirumangadu New Town has changed

Over the years, the guideline value of Jemi Sirumangadu New Town has seen several revisions. The 2012 revision set the value at Rs 200 per sq.ft, which remained unchanged until the 2023 revision, also at Rs 200 per sq.ft. The 2017 revision recorded a lower value of Rs 134 per sq.ft, marking a decrease of 33% from the 2012 figure. The revisions for the years 2002, 2003, and 2007 do not have any figures listed for this street.

From 2017 to 2023, there was a significant increase of 49%, bringing the value back to Rs 200 per sq.ft. Overall, from the 2012 revision to the 2024 revision, the guideline value has remained the same at Rs 200 per sq.ft.

Guideline values in Siru Mangadu

In Siru Mangadu, there are nine streets under the Sunguvarchattram SRO that have a 2024 guideline value ranging from Rs 100 to Rs 528 per sq.ft. The median value for these streets is Rs 200 per sq.ft, which is equal to the current guideline value of Jemi Sirumangadu New Town. Below are the guideline values for other streets in Siru Mangadu:

• Iswaryam Nagar: Rs 200 per sq.ft (2024)
• Kanniamman Kovil Street: Rs 200 per sq.ft (2024)
• Kumaran Nagar: Rs 300 per sq.ft (2024)
• Mettu Street: Rs 150 per sq.ft (2024)
• Nadu Street: Rs 150 per sq.ft (2024)
• Periya Street: Rs 150 per sq.ft (2024)

Stamp duty and registration fee for property in Jemi Sirumangadu New Town

For a 1,000 sq.ft plot at the current guideline value of Rs 200 per sq.ft, the total guideline value amounts to Rs 2,00,000. The stamp duty at 7% would be Rs 14,000, and the registration fee at 2% would be Rs 4,000, bringing the total fees to Rs 18,000. It's important to note that the 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 Jemi Sirumangadu New Town?

The Sub Registrar Office that covers Jemi Sirumangadu New Town is the Sunguvarchattram Sub Registrar Office, located at Vadivamal Nagar Kandigai Road Caparo Company Opp, Sunguvarchatram, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is an essential factor when registering a property in Siru Mangadu. It serves as a benchmark for calculating the stamp duty and registration fees that are payable at the time of property transfer.

When buying or selling property, the guideline value helps determine the official value of the property for registration purposes. This ensures that the transaction is recorded accurately and that the appropriate taxes are collected based on the guideline value or the sale price, whichever is higher.

Frequently asked questions

What is the current guideline value of Jemi Sirumangadu New Town?

The current guideline value of Jemi Sirumangadu New Town is Rs 200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has remained at Rs 200 per sq.ft since 2012, with a decrease to Rs 134 per sq.ft in 2017, and then returning to Rs 200 per sq.ft in 2023 and 2024.

What is the registration office for Jemi Sirumangadu New Town?

The registration office for Jemi Sirumangadu New Town 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 Jemi Sirumangadu New Town?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 2,00,000, the stamp duty at 7% would be Rs 14,000.

What other streets have guideline values in Siru Mangadu?

Other streets in Siru Mangadu include Iswaryam Nagar, Kanniamman Kovil Street, Kumaran Nagar, Mettu Street, Nadu Street, and Periya Street, with values ranging from Rs 150 to Rs 300 per sq.ft in 2024.