Guideline Value for Ma.Po.Si. Nagar

Ma.Po.Si. Nagar guideline value

The current guideline value of Ma.Po.Si. Nagar is Rs 3,300 per sq.ft, effective from 1 July 2024. This area is located in Kolathur village and falls under the Sembiam SRO. The land classification for this street is Residential Class I Type - I.

How the guideline value of Ma.Po.Si. Nagar has changed

The guideline value of Ma.Po.Si. Nagar has seen several revisions over the years. In 2003, the guideline value was Rs 285 per sq.ft, which increased significantly to Rs 700 per sq.ft in 2007. Following that, the value rose dramatically to Rs 3,000 per sq.ft in 2012, before dropping to Rs 2,010 per sq.ft in 2017. The 2023 revision set the value at Rs 3,000 per sq.ft, and the most recent 2024 revision has increased it to Rs 3,300 per sq.ft.

Examining the changes between these revisions, we see a +146% increase from 2003 to 2007, followed by a +329% increase from 2007 to 2012. However, there was a -33% decrease from 2012 to 2017. The value then increased by +49% from 2017 to 2023, and finally, a +10% rise from 2023 to 2024. It is important to note that the register has no figure for the year 2002 for this street.

Guideline values in Kolathur

In Kolathur, there are 879 streets under the Sembiam SRO with a 2024 guideline value ranging from Rs 2,200 to Rs 6,000 per sq.ft. The median value for these streets is Rs 3,300 per sq.ft, which is equal to the guideline value of Ma.Po.Si. Nagar.

• Manikandan Nagar: Rs 3,300 per sq.ft (2024)
• Mangali Neethiman Nagar 8th Street: Rs 3,300 per sq.ft (2024)
• Mangali Neethiman Nagar 7th Street: Rs 3,300 per sq.ft (2024)
• Mangali Neethiman Nagar 6th Street: Rs 3,300 per sq.ft (2024)
• Mangali Neethiman Nagar 5th Street: Rs 3,300 per sq.ft (2024)
• Mangali Neethiman Nagar 4th Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Ma.Po.Si. Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value amounts to Rs 33,00,000. The stamp duty at 7% would be Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, bringing the total fees to Rs 2,97,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Ma.Po.Si. Nagar?

Ma.Po.Si. Nagar is covered by the Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011. You can find your SRO for more details.

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

The guideline value plays a crucial role during the registration of property transactions in Kolathur. It is used to determine the stamp duty and registration fees that buyers must pay when purchasing property. The guideline value is typically assessed to ensure that the transaction is recorded accurately and fairly.

When buying or selling property, it is essential to be aware of the current guideline value, as it directly affects the costs associated with the transaction. Buyers should ensure that they are informed about the guideline value to avoid any unexpected fees during the registration process.

Frequently asked questions

What is the current guideline value of Ma.Po.Si. Nagar?

The current guideline value of Ma.Po.Si. Nagar is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed numerous times, from Rs 285 per sq.ft in 2003 to Rs 3,300 per sq.ft in 2024, reflecting various increases and decreases in value over the years.

What is the land classification for Ma.Po.Si. Nagar?

Ma.Po.Si. Nagar is classified as Residential Class I Type - I, indicating its suitability for residential development.

What is the role of the Sembiam SRO?

The Sembiam SRO is responsible for the registration of property transactions in the Kolathur area, including Ma.Po.Si. Nagar. It ensures that all transactions are recorded accurately according to the guideline values.

How are stamp duty and registration fees calculated?

Stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. For example, for a plot valued at Rs 33,00,000, the stamp duty at 7% would be Rs 2,31,000, and the registration fee at 2% would be Rs 66,000.