Guideline Value for Mother Land

Mother Land guideline value

The current guideline value of Mother Land in Vattampakkam village is Rs 250 per sq.ft, effective from 1 July 2024. This property falls under the Residential Class I Type - I land classification and is registered with the Sunguvarchattram SRO.

How the guideline value of Mother Land has changed

Over the years, the guideline value of Mother Land has seen several revisions. The earliest recorded figure was Rs 60 per sq.ft in 2007. This increased significantly to Rs 250 per sq.ft in 2012, then decreased to Rs 167 per sq.ft in 2017. The 2023 revision maintained the value at Rs 250 per sq.ft, and the upcoming 2024 revision also keeps it at Rs 250 per sq.ft. The register has no figures for the years 2002 and 2003 for this street.

From 2007 to 2024, the overall change in the guideline value is +317%. The change from 2012 to 2017 was a decrease of -33%, while the increase from 2017 to 2023 was +50%. Notably, there has been no change in the guideline value from 2023 to 2024.

Guideline values in Vattampakkam

In Vattampakkam, there are 33 streets under the Sunguvarchattram SRO with the 2024 guideline values ranging from Rs 200 to Rs 1,790 per sq.ft. The median value is Rs 250 per sq.ft, which aligns with the guideline value for Mother Land.

• M.G.R Street (colony): Rs 200 per sq.ft (2024)
• MuthuMariamman Kovil Street (colony): Rs 200 per sq.ft (2024)
• Main Road: Rs 250 per sq.ft (2024)
• OMS green city: Rs 1,790 per sq.ft (2024)
• Lakshmi Nagar: Rs 448 per sq.ft (2024)
• Parivender Nagar: Rs 500 per sq.ft (2024)

Stamp duty and registration fee for property in Mother Land

For a 1,000 sq.ft plot at the current rate of Rs 250 per sq.ft, the guideline value amounts to Rs 2,50,000. The stamp duty at 7% would be Rs 17,500, and the registration fee at 2% would be Rs 5,000, totaling Rs 22,500. It is important to note that the 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 further calculations.

Which Sub Registrar Office covers Mother Land?

The Sub Registrar Office that covers Mother Land 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 details.

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

The guideline value plays a crucial role during property transactions in Vattampakkam. It is used to determine the stamp duty and registration fees that must be paid when a property is bought or sold. The guideline value is set by the government and reflects the minimum value for which properties in that area can be registered.

When buying or selling a property, it is essential to be aware of the current guideline value as it affects the overall cost of the transaction. Buyers should ensure that the sale price is not lower than the guideline value to avoid any legal issues during registration.

Frequently asked questions

What is the current guideline value of Mother Land?

The current guideline value of Mother Land is Rs 250 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 250 per sq.ft in 2012, decreased to Rs 167 per sq.ft in 2017, and has remained at Rs 250 per sq.ft in 2023 and 2024.

What is the land classification for Mother Land?

Mother Land is classified as Residential Class I Type - I under the guideline value register.

Where is the Sub Registrar Office for Mother Land located?

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

How is the stamp duty calculated for properties in Mother Land?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at Rs 250 per sq.ft would incur a stamp duty of Rs 17,500.