Guideline Value for Loordu Nagar

Loordu Nagar guideline value

The current guideline value of Loordu Nagar is Rs 605 per sq.ft, effective from 1 July 2024. This area is located in Molachoor village, under the Sunguvarchattram SRO, and is classified as Residential Class III Type - I.

How the guideline value of Loordu Nagar has changed

The guideline value for Loordu Nagar has seen several revisions over the years. In 2012, the value was set at Rs 400 per sq.ft, which increased to Rs 402 per sq.ft in 2017. Following this, the value rose significantly to Rs 600 per sq.ft in 2023, and currently stands at Rs 605 per sq.ft as of the 2024 revision. It is important to note that there are no figures available for the years 2002, 2003, and 2007 for this street.

From 2012 to 2017, the increase was minimal at just 1%. However, from 2017 to 2023, there was a substantial increase of 49%. Overall, from 2012 to 2024, the guideline value has risen by 51%.

Guideline values in Molachoor

In Molachoor, there are 112 streets under the Sunguvarchattram SRO that carry a 2024 guideline value ranging from Rs 300 to Rs 2,000 per sq.ft. The median value for these streets is Rs 600 per sq.ft, placing Loordu Nagar's 2024 figure above this median.

• Lucky Land: Rs 605 per sq.ft (2024)
• Kuzhanthai Easu Nagar: Rs 600 per sq.ft (2024)
• Kuzhanthai Easu Kovil Street: Rs 300 per sq.ft (2024)
• Mariamman Kovil Street: Rs 300 per sq.ft (2024)
• Mariya Puram: Rs 600 per sq.ft (2024)
• Matthamman Kovil Street: Rs 700 per sq.ft (2024)

Stamp duty and registration fee for property in Loordu Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 605 per sq.ft, the total guideline value would be Rs 6,05,000. The stamp duty at 7% would be Rs 42,350, and the registration fee at 2% would be Rs 12,100, bringing the total fees to Rs 54,450. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Loordu Nagar?

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

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

The guideline value is a crucial factor in the registration process when buying or selling property in Molachoor. It serves as a reference point for determining the stamp duty and registration fees that must be paid during the transaction.

When a property is sold, the guideline value is compared to the sale price. The higher of the two values is used to calculate the stamp duty and registration fees, ensuring that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Loordu Nagar?

The current guideline value of Loordu Nagar is Rs 605 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 400 per sq.ft in 2012 to Rs 605 per sq.ft in 2024, marking an overall increase of 51% over this period.

What is the land classification for Loordu Nagar?

Loordu Nagar is classified as Residential Class III Type - I, indicating its designation for residential use within the area.

Which Sub Registrar Office should I visit for transactions in Loordu Nagar?

The Sunguvarchattram Sub Registrar Office is the designated office for transactions in Loordu Nagar, located at Vadivamal Nagar Kandigai Road, opposite Caparo Company, Sunguvarchatram, Chengalpattu registration zone.

How is stamp duty calculated in Loordu Nagar?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, on a plot valued at Rs 6,05,000, the stamp duty would be Rs 42,350 at 7%.