Guideline Value for Multi Industrial Nagar

Multi Industrial Nagar guideline value

The current guideline value of Multi Industrial Nagar is Rs 2,750 per sq.ft, effective from 1 July 2024. This area is located in Kerugambakkam village under the Pammal Sub Registrar Office (SRO) and is classified as Residential Class I Type - I.

How the guideline value of Multi Industrial Nagar has changed

The guideline value for Multi Industrial Nagar has seen several revisions over the years. The 2017 revision set the value at Rs 1,675 per sq.ft. This figure was then increased to Rs 2,500 per sq.ft in the 2023 revision, marking a significant rise of 49%. The most recent 2024 revision has further increased the value to Rs 2,750 per sq.ft, reflecting a 10% increase from the previous year.

Overall, from the 2017 revision to the 2024 revision, the guideline value has increased by 64%. It is important to note that the register has no figure for the years 2002, 2003, 2007, and 2012 for this street.

Guideline values in Kerugambakkam

In Kerugambakkam, there are 144 streets under the Pammal SRO that carry a 2024 guideline value ranging from Rs 1,100 to Rs 4,800 per sq.ft. The median guideline value in the village is Rs 2,200 per sq.ft, placing Multi Industrial Nagar's 2024 figure above this median.

• Moorthy Nagar: Rs 1,760 per sq.ft (2024)
• Muthu Mariamman Koil Street: Rs 1,980 per sq.ft (2024)
• Muthu Ramalinga Devar Street: Rs 1,980 per sq.ft (2024)
• M.K.Nagar: Rs 1,980 per sq.ft (2024)
• M.G.R.Street (ward 9): Rs 1,980 per sq.ft (2024)
• M.G.R.Street (ward 1): Rs 1,980 per sq.ft (2024)

Stamp duty and registration fee for property in Multi Industrial Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 2,750 per sq.ft, the total guideline value amounts to Rs 27,50,000. The stamp duty at 7% would be Rs 1,92,500, and the registration fee at 2% would be Rs 55,000, bringing the total fees together to Rs 2,47,500. 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 Multi Industrial Nagar?

The Sub Registrar Office that covers Multi Industrial Nagar is the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, in the Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value is a crucial factor in property transactions in Kerugambakkam. It serves as a benchmark for determining the minimum price at which a property can be registered. Buyers and sellers must consider this value to ensure compliance with registration regulations.

When purchasing property, the guideline value is used to calculate the stamp duty and registration fees. These costs are based on the guideline value or the sale price, whichever is higher, ensuring that the transaction adheres to legal requirements.

Frequently asked questions

What is the current guideline value of Multi Industrial Nagar?

The current guideline value of Multi Industrial Nagar is Rs 2,750 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 1,675 per sq.ft in 2017 to Rs 2,750 per sq.ft in 2024, reflecting a total increase of 64% over this period.

What are the stamp duty and registration fees for property in Multi Industrial Nagar?

For a 1,000 sq.ft plot, the total guideline value is Rs 27,50,000. The stamp duty would be Rs 1,92,500, and the registration fee would be Rs 55,000, totaling Rs 2,47,500.

Which office handles property registrations in Multi Industrial Nagar?

The Pammal Sub Registrar Office handles property registrations in Multi Industrial Nagar, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075.

What is the significance of the guideline value in property transactions?

The guideline value is used to determine the minimum price for property registration and is essential for calculating stamp duty and registration fees. It ensures that property transactions comply with legal standards.