Guideline Value for M.R.Rajamani Nagar

M.R.Rajamani Nagar guideline value

The current guideline value of M.R.Rajamani Nagar is Rs 200 per sq.ft, effective from 1 July 2024. This street is located in Umaiyal Parancheri village, under the Sunguvarchattram SRO. The land classification for this area is Residential Class II Type - I.

How the guideline value of M.R.Rajamani Nagar has changed

Over the years, the guideline value of M.R.Rajamani Nagar has undergone several revisions. The earliest recorded value was Rs 60 per sq.ft in 2007, which increased significantly to Rs 200 per sq.ft in 2012. The value then saw a decrease to Rs 134 per sq.ft in 2017. Following this, the guideline value remained stable at Rs 200 per sq.ft in both the 2023 and 2024 revisions, showing no change between these two years.

From 2017 to 2023, there was a notable increase of 49%. The overall change from the 2007 revision to the current 2024 rate reflects a substantial increase of 233%. It is important to note that the register has no figures for the years 2002 and 2003 for this street.

Guideline values in Umaiyal Parancheri

In Umaiyal Parancheri, there are 18 streets under the Sunguvarchattram SRO that carry a 2024 guideline value ranging from Rs 175 to Rs 500 per sq.ft, with the median being Rs 200 per sq.ft. M.R.Rajamani Nagar's 2024 figure aligns with this median.

• MuthuKumaran Nagar: Rs 250 per sq.ft (2024)
• Mariamman Kovil Street( Kulakkarai Street): Rs 175 per sq.ft (2024)
• L.K.S Garden: Rs 200 per sq.ft (2024)
• Park City: Rs 500 per sq.ft (2024)
• Perumal Kovil Street: Rs 200 per sq.ft (2024)
• Pillayar Kovil Street: Rs 175 per sq.ft (2024)

Stamp duty and registration fee for property in M.R.Rajamani Nagar

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 is important to note that the duty is charged on the higher of the guideline value or the sale price.

For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers M.R.Rajamani Nagar?

The Sub Registrar Office covering M.R.Rajamani Nagar is the Sunguvarchattram Sub Registrar Office, located at Vadivamal Nagar Kandigai Road Caparo Company Opp, Sunguvarchatram, Chengalpattu registration zone.

To find your SRO, you can visit find your SRO.

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

The guideline value plays a crucial role in the registration process of property transactions in Umaiyal Parancheri. When a property is bought or sold, the guideline value is used to determine the applicable stamp duty and registration fees, ensuring compliance with local regulations.

It is essential for buyers and sellers to be aware of the current guideline value, as it directly impacts the financial aspects of property transactions. Accurate knowledge of these values helps in making informed decisions during the buying or selling process.

Frequently asked questions

What is the current guideline value of M.R.Rajamani Nagar?

The current guideline value of M.R.Rajamani Nagar is Rs 200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 60 per sq.ft in 2007 to Rs 200 per sq.ft in 2012, decreased to Rs 134 per sq.ft in 2017, and remained at Rs 200 per sq.ft in 2023 and 2024.

What is the land classification for M.R.Rajamani Nagar?

The land classification for M.R.Rajamani Nagar is Residential Class II Type - I.

Where is the Sub Registrar Office for M.R.Rajamani Nagar located?

The Sub Registrar Office for M.R.Rajamani Nagar is located at Vadivamal Nagar Kandigai Road Caparo Company Opp, Sunguvarchatram, Chengalpattu registration zone.

How is stamp duty calculated for property in M.R.Rajamani Nagar?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a 1,000 sq.ft plot at the current rate, the total guideline value is Rs 2,00,000, leading to a stamp duty of Rs 14,000.