Guideline Value for Sasikumar Nagar

Sasikumar Nagar guideline value

The current guideline value of Sasikumar Nagar is Rs 1,210 per sq.ft, effective from 1 July 2024. This area is located in Mudichur village and falls under the Padappai SRO, classified as Residential Class II Type - I.

How the guideline value of Sasikumar Nagar has changed

The guideline value for Sasikumar Nagar has seen several revisions over the years. The 2007 revision set the value at Rs 200 per sq.ft, which increased significantly to Rs 1,100 per sq.ft in 2012, marking a rise of 450%. However, from 2012 to 2017, the value dropped to Rs 737 per sq.ft, a decrease of 33%. The 2017 revision brought the value up to Rs 1,100 per sq.ft in 2023, reflecting a 49% increase. The most recent revision in 2024 has set the value at Rs 1,210 per sq.ft, which is a 10% increase from the previous year.

It is important to note that the register has no figures for the years 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 505%.

Guideline values in Mudichur

In Mudichur, there are 135 streets under the Padappai SRO with a 2024 guideline value ranging from Rs 880 to Rs 4,000 per sq.ft, with a median value of Rs 2,200 per sq.ft. The guideline value of Sasikumar Nagar is below this median.

• Saravanabhava Nagar: Rs 3,630 per sq.ft (2024)
• Sathyavani Muthu Street: Rs 1,210 per sq.ft (2024)
• Sarang Avenue 4th Street: Rs 3,630 per sq.ft (2024)
• Saranga Avenue: Rs 3,630 per sq.ft (2024)
• Sakthi Nagar: Rs 1,760 per sq.ft (2024)
• Senthil Nagar: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Sasikumar Nagar

For a 1,000 sq.ft plot at the current rate of Rs 1,210 per sq.ft, the guideline value amounts to Rs 12,10,000. The stamp duty at 7% would be Rs 84,700, and the registration fee at 2% would be Rs 24,200, totaling Rs 1,08,900. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Sasikumar Nagar?

The Sub Registrar Office that covers Sasikumar Nagar is the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions in Mudichur, as it determines the minimum value at which a property can be registered. When buying or selling property, the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher.

This ensures that the government receives the appropriate revenue from property transactions. Buyers and sellers should be aware of the current guideline value to ensure compliance with registration requirements.

Frequently asked questions

What is the current guideline value of Sasikumar Nagar?

The current guideline value of Sasikumar Nagar is Rs 1,210 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 200 per sq.ft in 2007 to Rs 1,210 per sq.ft in 2024, reflecting an overall increase of 505% over the years.

What is the stamp duty rate for property in Sasikumar Nagar?

The stamp duty rate for property in Sasikumar Nagar is 7% of the guideline value or sale price, whichever is higher.

Where can I find the Sub Registrar Office for Sasikumar Nagar?

The Sub Registrar Office for Sasikumar Nagar is the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone.

What is the median guideline value in Mudichur?

The median guideline value in Mudichur is Rs 2,200 per sq.ft, while Sasikumar Nagar's guideline value is below this median at Rs 1,210 per sq.ft.