Guideline Value for N.L Chinnapar Street

N.L Chinnapar Street guideline value

The current guideline value for N.L Chinnapar Street is Rs 600 per sq.ft, effective from 1 July 2024. This street is located in Molachoor village and falls under the Sunguvarchattram SRO, classified as Residential Special Type - III.

How the guideline value of N.L Chinnapar Street has changed

The guideline value for N.L Chinnapar Street has undergone several revisions over the years. The 2012 revision set the value at Rs 600 per sq.ft, which remained unchanged in the 2023 revision. The 2017 revision recorded a lower value of Rs 402 per sq.ft, marking a decrease of 33% from the previous figure. Notably, there are no figures available for the revisions in 2002, 2003, and 2007.

From 2017 to 2023, the guideline value increased by 49%, bringing it back to Rs 600 per sq.ft. The most recent revision in 2024 has maintained this value, resulting in a 0% change from the 2023 revision. Overall, from 2012 to 2024, the guideline value has seen no change.

Guideline values in Molachoor

In Molachoor village, there are 112 streets under the Sunguvarchattram SRO that carry a 2024 guideline value ranging from Rs 300 to Rs 2,000 per sq.ft. The median guideline value is Rs 600 per sq.ft, which aligns with the guideline value of N.L Chinnapar Street.

• Nethaji Street: Rs 600 per sq.ft (2024)
• Nehru Street: Rs 600 per sq.ft (2024)
• Palkarar Street: Rs 500 per sq.ft (2024)
• Palla odai: Rs 450 per sq.ft (2024)
• Periyar Cross Street: Rs 600 per sq.ft (2024)
• Mookambigai Nagar I & II: Rs 300 per sq.ft (2024)

Stamp duty and registration fee for property in N.L Chinnapar Street

For a 1,000 sq.ft plot at the current guideline value of Rs 600 per sq.ft, the total guideline value amounts to Rs 6,00,000. The stamp duty is charged at 7%, which totals Rs 42,000, and the registration fee is 2%, amounting to Rs 12,000. Together, the total cost for stamp duty and registration fee is Rs 54,000. 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 N.L Chinnapar Street?

The Sub Registrar Office that covers N.L Chinnapar Street is the Sunguvarchattram Sub Registrar Office, located at Vadivamal Nagar Kandigai Road, opposite Caparo Company, Sunguvarchatram, Chengalpattu registration zone.

You can find your SRO for more information.

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

The guideline value is a critical reference point for property transactions in Molachoor. It is used to determine the stamp duty and registration fees that buyers must pay when registering a property. The guideline value serves as a baseline for the official valuation of properties in the area.

When buying or selling property, it is essential to be aware of the guideline value, as it affects the overall cost of the transaction. Buyers should ensure that they are informed about the current guideline values to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of N.L Chinnapar Street?

The current guideline value of N.L Chinnapar Street is Rs 600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value for N.L Chinnapar Street has remained at Rs 600 per sq.ft since the 2012 revision, after a decrease to Rs 402 per sq.ft in 2017. There was a significant increase of 49% from 2017 to 2023, but it has not changed since then.

What is the land classification for N.L Chinnapar Street?

N.L Chinnapar Street is classified as Residential Special Type - III, indicating its intended use for residential purposes within the area.

Where can I find the Sub Registrar Office for N.L Chinnapar Street?

The Sub Registrar Office for N.L Chinnapar Street is the Sunguvarchattram Sub Registrar Office, located at Vadivamal Nagar Kandigai Road, opposite Caparo Company, Sunguvarchatram, Chengalpattu registration zone.

How is the stamp duty calculated for properties in Molachoor?

Stamp duty for properties in Molachoor is calculated based on the guideline value or the sale price, whichever is higher. For example, a property valued at Rs 6,00,000 would incur a stamp duty of Rs 42,000 at the rate of 7%.