Guideline Value for Mugathuvara kuppam

Mugathuvara kuppam guideline value

The current guideline value of Mugathuvara kuppam is Rs 1,000 per sq.ft, effective from 1 July 2024. This area is located in Kathivakkam village, under the Thiruvottiyur SRO, and is classified as Residential Class I Type - II.

How the guideline value of Mugathuvara kuppam has changed

The guideline value for Mugathuvara kuppam has seen several revisions over the years. The oldest revision available is from 2007, where the value was Rs 200 per sq.ft. This increased to Rs 600 per sq.ft in 2012, marking a 200% rise. However, from 2012 to 2017, the value decreased by 33% to Rs 402 per sq.ft. The next revision in 2023 brought the value back up to Rs 1,000 per sq.ft, which remained unchanged in the 2024 revision.

Overall, from 2007 to 2024, the guideline value has increased by 400%. The values for the years 2002 and 2003 are not available for this street in the register.

Guideline values in Kathivakkam

In Kathivakkam, there are 47 streets under the Thiruvottiyur SRO that carry a 2024 guideline value ranging from Rs 1,000 to Rs 1,600 per sq.ft, with a median value of Rs 1,001 per sq.ft. The guideline value for Mugathuvara kuppam is below this median.

• Nehru Nagar: Rs 1,100 per sq.ft (2024)
• Nettukkuppam: Rs 1,000 per sq.ft (2024)
• Periyakuppam: Rs 1,001 per sq.ft (2024)
• Pillai Thottam: Rs 1,001 per sq.ft (2024)
• Ponga Nagar(Nehru Nagar): Rs 1,100 per sq.ft (2024)
• Porkaliyamman Koil Street: Rs 1,001 per sq.ft (2024)

Stamp duty and registration fee for property in Mugathuvara kuppam

For a 1,000 sq.ft plot at the current guideline value of Rs 1,000 per sq.ft, the total guideline value amounts to Rs 10,00,000. The stamp duty at 7% would be Rs 70,000, and the registration fee at 2% would be Rs 20,000, making the total charges Rs 90,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Mugathuvara kuppam?

The Sub Registrar Office that covers Mugathuvara kuppam is the Thiruvottiyur Sub Registrar Office, located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Kathivakkam. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction. Buyers and sellers must consider this value to ensure compliance with legal requirements during the registration process.

When a property is sold, the guideline value is used to calculate the stamp duty, which is a mandatory fee that must be paid to the government. This ensures that the transaction is officially recorded and recognized under the law.

Frequently asked questions

What is the current guideline value of Mugathuvara kuppam?

The current guideline value of Mugathuvara kuppam is Rs 1,000 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 200 per sq.ft in 2007 to Rs 1,000 per sq.ft in 2024, which is a total increase of 400% over the years.

What are the stamp duty and registration fees for a property in Mugathuvara kuppam?

For a property valued at Rs 10,00,000, the stamp duty would be Rs 70,000 and the registration fee would be Rs 20,000, totaling Rs 90,000.

Which Sub Registrar Office should I visit for transactions in Mugathuvara kuppam?

The Thiruvottiyur Sub Registrar Office is the designated office for transactions in Mugathuvara kuppam, located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019.

What is the significance of the guideline value when buying property?

The guideline value is significant as it determines the stamp duty and registration fees that must be paid during property transactions. It serves as a legal benchmark for property valuation in the registration process.