Guideline Value for SRI MUGAMBIGAI NAGAR

Sri Mugambigai Nagar guideline value

The current guideline value of Sri Mugambigai Nagar is Rs 485 per sq.ft, effective from 1 July 2024. This area is located in Vichoor_B village, under the Thiruvottiyur SRO, and is classified as Residential Class I Type - I.

How the guideline value of Sri Mugambigai Nagar has changed

The guideline value for Sri Mugambigai Nagar has seen several revisions over the years. The earliest recorded figure is from the 2017 revision, which was Rs 295 per sq.ft. This value increased to Rs 441 per sq.ft in the 2023 revision, marking a significant rise of 49%. The most recent revision in 2024 set the value at Rs 485 per sq.ft, reflecting a 10% increase from the previous year.

There are no recorded figures for the years 2002, 2003, 2007, and 2012 for this street. Overall, from the 2017 revision to the 2024 revision, the guideline value has increased by 64%.

Guideline values in Vichoor_B

In Vichoor_B village, there are 45 streets under the Thiruvottiyur SRO that carry a 2024 guideline value, ranging from Rs 330 to Rs 550 per sq.ft. The median guideline value for these streets is Rs 485 per sq.ft, which is equal to the 2024 figure for Sri Mugambigai Nagar.

• Sri Mahalashmi Nagar: Rs 485 per sq.ft (2024)
• Srinivasa Nagar: Rs 485 per sq.ft (2024)
• Sri Ram Ganapathi Nagar: Rs 485 per sq.ft (2024)
• Sri Ram Nagar: Rs 485 per sq.ft (2024)
• Sri Devi Nagar: Rs 485 per sq.ft (2024)
• Sri Ramnagar Extn: Rs 485 per sq.ft (2024)

Stamp duty and registration fee for property in Sri Mugambigai Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 485 per sq.ft, the total guideline value amounts to Rs 4,85,000. The stamp duty at 7% would be Rs 33,950, while the registration fee at 2% would be Rs 9,700. Together, the total fees would be Rs 43,650. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Sri Mugambigai Nagar?

The Sub Registrar Office that covers Sri Mugambigai Nagar 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 Vichoor_B

The guideline value is a crucial factor in the registration process when buying or selling property in Vichoor_B. This value is used to determine the stamp duty and registration fees that need to be paid during the transaction.

When a property is sold, the guideline value serves as a benchmark to ensure that the transaction is recorded accurately. Buyers and sellers must be aware of the current guideline value to avoid any discrepancies during registration.

Frequently asked questions

What is the current guideline value of Sri Mugambigai Nagar?

The current guideline value of Sri Mugambigai Nagar is Rs 485 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 295 per sq.ft in 2017 to Rs 485 per sq.ft in 2024, representing an overall increase of 64%.

What are the stamp duty and registration fees for property in Sri Mugambigai Nagar?

For a 1,000 sq.ft plot, the total guideline value is Rs 4,85,000. The stamp duty is Rs 33,950, and the registration fee is Rs 9,700, totaling Rs 43,650.

Which Sub Registrar Office covers Sri Mugambigai Nagar?

The Thiruvottiyur Sub Registrar Office covers Sri Mugambigai Nagar, located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019.

How is the guideline value used in property transactions?

The guideline value is used to calculate the stamp duty and registration fees during property transactions. It serves as a benchmark to ensure accurate registration of the sale.