Guideline Value for M.P. CITY(22/2.22/3)

M.P. City(22/2.22/3) guideline value

The current guideline value for M.P. City(22/2.22/3) is Rs 626 per sq.ft. This property is located in Kakkalur village under the Tiruvallur Joint 1 SRO, classified as Residential Class II Type - III.

How the guideline value of M.P. City(22/2.22/3) has changed

The guideline value for M.P. City(22/2.22/3) has seen several revisions over the years. In 2012, the value was Rs 625 per sq.ft, which decreased to Rs 419 per sq.ft in 2017. This was a decline of 33%. However, from 2017 to 2023, the value increased significantly by 49%, bringing it to Rs 626 per sq.ft. The 2024 revision maintains this value at Rs 626 per sq.ft, showing no change from the previous year.

There are no figures available in the register for the years 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has remained unchanged at Rs 626 per sq.ft.

Guideline values in Kakkalur

Kakkalur village has a total of 133 streets under the Tiruvallur Joint 1 SRO, with the 2024 guideline values ranging from Rs 400 to Rs 3,000 per sq.ft. The median value is Rs 626 per sq.ft, which is equal to the current guideline value for M.P. City(22/2.22/3).

• Mps Nagar: Rs 800 per sq.ft (2024)
• Mullai Street: Rs 626 per sq.ft (2024)
• M.D.M. Nagar: Rs 800 per sq.ft (2024)
• Nanthavanam Street: Rs 626 per sq.ft (2024)
• Narasimhapuram & Extn: Rs 626 per sq.ft (2024)
• Mariannai Street: Rs 626 per sq.ft (2024)

Stamp duty and registration fee for property in M.P. City(22/2.22/3)

For a 1,000 sq.ft plot at the current guideline value of Rs 626 per sq.ft, the total guideline value amounts to Rs 6,26,000. The stamp duty at 7% would be Rs 43,820, and the registration fee at 2% would be Rs 12,520, totaling Rs 56,340. It is important to note that 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 M.P. City(22/2.22/3)?

The Sub Registrar Office covering M.P. City(22/2.22/3) is the Tiruvallur Joint 1 Sub Registrar Office, located at No.201, J.n.road, Taluk Office Compound, Thiruvallur-602001. You can find your SRO for further assistance.

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

The guideline value is a crucial factor when registering property in Kakkalur. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction. Buyers and sellers should be aware that the guideline value will influence the overall cost of the property transaction.

When a property is sold, the guideline value helps ensure that the transaction is recorded accurately and transparently. It is essential for both parties to understand the implications of the guideline value in their negotiations and final agreements.

Frequently asked questions

What is the current guideline value for M.P. City(22/2.22/3)?

The current guideline value for M.P. City(22/2.22/3) is Rs 626 per sq.ft, effective from the 2024 revision.

How has the guideline value changed over the years?

The guideline value has changed from Rs 625 per sq.ft in 2012 to Rs 419 per sq.ft in 2017, then increased to Rs 626 per sq.ft in 2023 and remained the same in 2024.

What is the median guideline value for streets in Kakkalur?

The median guideline value for streets in Kakkalur is Rs 626 per sq.ft, which is the same as the guideline value for M.P. City(22/2.22/3).

What fees are associated with buying property in M.P. City(22/2.22/3)?

When buying property, the fees include stamp duty at 7% of the guideline value and a registration fee at 2%. For a 1,000 sq.ft plot, these fees total Rs 56,340.

Where can I find the Sub Registrar Office for M.P. City(22/2.22/3)?

The Sub Registrar Office for M.P. City(22/2.22/3) is located at No.201, J.n.road, Taluk Office Compound, Thiruvallur-602001.