Guideline Value for Narasamangalam Colony

Narasamangalam Colony guideline value

The current guideline value of Narasamangalam Colony, located in Mudhukoor village under the Sunguvarchattram SRO, is Rs 200 per sq.ft, effective from 1 July 2024. This area falls under the Residential Class II Type - I land classification.

How the guideline value of Narasamangalam Colony has changed

The guideline value for Narasamangalam Colony has seen significant changes over the years. The register does not have figures for the years 2002, 2003, 2007, 2012, and 2017. In the 2023 revision, the guideline value was Rs 100 per sq.ft, which increased by 100% to Rs 200 per sq.ft in the 2024 revision.

Prior to 2023, the register does not provide any figures for this street. The 2024 revision marks a notable increase from the previous year's value, reflecting the current guideline value that aligns with the median of Rs 200 per sq.ft for the 29 streets in Mudhukoor under the Sunguvarchattram SRO.

Guideline values in Mudhukoor

In Mudhukoor, the guideline values for the 2024 revision range from Rs 200 to Rs 448 per sq.ft, with the median being Rs 200 per sq.ft. Narasamangalam Colony's 2024 figure is equal to this median. Below are the guideline values for other streets in Mudhukoor:

• Mudukoor Colony Part: Rs 200 per sq.ft (2024)
• M.S.R. Garden: Rs 448 per sq.ft (2024)
• OmSakthi Kovil Street: Rs 200 per sq.ft (2024)
• Mettu Street: Rs 200 per sq.ft (2024)
• Melandai Vedhi: Rs 200 per sq.ft (2024)
• Mariamman Kovil Street: Rs 200 per sq.ft (2024)

Stamp duty and registration fee for property in Narasamangalam Colony

For a 1,000 sq.ft plot at the current guideline value of Rs 200 per sq.ft, the total guideline value would be Rs 2,00,000. The stamp duty at 7% would amount to Rs 14,000, and the registration fee at 2% would be Rs 4,000, making the total Rs 18,000. It is important to note that 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 more details.

Which Sub Registrar Office covers Narasamangalam Colony?

The Sub Registrar Office that covers Narasamangalam Colony 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 information.

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

The guideline value is a crucial factor when registering property in Mudhukoor. It serves as a reference point for calculating stamp duty and registration fees, ensuring that these costs are based on the official value set by the Registration Department.

When buying or selling property, the guideline value helps both parties understand the minimum value at which the property can be registered. This ensures transparency in transactions and helps avoid disputes regarding property valuation.

Frequently asked questions

What is the current guideline value of Narasamangalam Colony?

The current guideline value of Narasamangalam Colony is Rs 200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed in recent years?

The guideline value increased from Rs 100 per sq.ft in 2023 to Rs 200 per sq.ft in 2024, marking a 100% increase. There are no figures available for the years 2002, 2003, 2007, 2012, and 2017.

What are the guideline values of other streets in Mudhukoor?

Other streets in Mudhukoor have varying guideline values, ranging from Rs 200 to Rs 448 per sq.ft. The median value for the area is Rs 200 per sq.ft, which is the same as the guideline value for Narasamangalam Colony.

How is stamp duty calculated for properties in Narasamangalam Colony?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For a property valued at Rs 2,00,000, the stamp duty would be Rs 14,000 at a rate of 7%.

Where is the Sub Registrar Office for Narasamangalam Colony located?

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