Guideline Value for Mupathamman Nagar

Mupathamman Nagar guideline value

The current guideline value of Mupathamman Nagar is Rs 600 per sq.ft, effective from 1 July 2024. This area is located in Neelamangalam village under the Gooduvancheri SRO, classified as Residential Class IV Type - II.

How the guideline value of Mupathamman Nagar has changed

The guideline value for Mupathamman Nagar has seen several revisions over the years. The 2012 revision set the value at Rs 600 per sq.ft, which remained unchanged in the 2017 revision. However, in 2017, the value was adjusted to Rs 402 per sq.ft, reflecting a decrease of 33%. The 2023 revision returned the value to Rs 600 per sq.ft, maintaining this rate in the subsequent 2024 revision, resulting in a 0% change from 2023 to 2024. Overall, from the 2012 revision to the 2024 revision, the guideline value has remained unchanged at Rs 600 per sq.ft.

It is important to note that there are no figures available for the years 2002, 2003, and 2007 in the register for this street.

Guideline values in Neelamangalam

In Neelamangalam village, there are 41 streets under the Gooduvancheri SRO that carry a 2024 guideline value ranging from Rs 400 to Rs 2,000 per sq.ft, with a median value of Rs 600 per sq.ft. Mupathamman Nagar's 2024 guideline value is equal to this median.

• Namann nagar: Rs 500 per sq.ft (2024)
• Namann nagar Extension: Rs 500 per sq.ft (2024)
• Nayantarra Avenue: Rs 2,000 per sq.ft (2024)
• Metro Square: Rs 600 per sq.ft (2024)
• Malar Avenue: Rs 500 per sq.ft (2024)
• Madhan Square: Rs 500 per sq.ft (2024)

Stamp duty and registration fee for property in Mupathamman Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 600 per sq.ft, the total guideline value would be Rs 6,00,000. The stamp duty at 7% would amount to Rs 42,000, and the registration fee at 2% would be Rs 12,000, bringing the total fees together to Rs 54,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Mupathamman Nagar?

The Sub Registrar Office that covers Mupathamman Nagar is the Gooduvancheri Sub Registrar Office, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvancheri-603202, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor during the registration process when buying or selling property in Neelamangalam. It determines the minimum value on which stamp duty and registration fees are calculated, ensuring that the government receives the appropriate taxes from property transactions.

When a property is sold, the guideline value serves as a benchmark to assess the sale price. If the sale price is lower than the guideline value, the stamp duty is calculated based on the guideline value to avoid undervaluation of the property.

Frequently asked questions

What is the current guideline value of Mupathamman Nagar?

The current guideline value of Mupathamman Nagar is Rs 600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has remained at Rs 600 per sq.ft from 2012 to 2024, with a decrease to Rs 402 per sq.ft in 2017 and a return to Rs 600 per sq.ft in 2023.

What is the land classification for Mupathamman Nagar?

Mupathamman Nagar is classified as Residential Class IV Type - II.

Where can I find the Gooduvancheri Sub Registrar Office?

The Gooduvancheri Sub Registrar Office is located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvancheri-603202, Chengalpattu registration zone.

How are stamp duty and registration fees calculated in Mupathamman Nagar?

Stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at Rs 600 per sq.ft, the total fees would amount to Rs 54,000.