Guideline Value for Spring County

Spring County guideline value

The current guideline value of Spring County, located in Molachoor village under the Sunguvarchattram SRO, is Rs 1,000 per sq.ft as of the 2024 revision, effective from 1 July 2024. The land classification for this area is Mixed Type - II.

How the guideline value of Spring County has changed

The guideline value for Spring County has undergone several revisions over the years. The 2012 revision set the value at Rs 1,000 per sq.ft, which remained unchanged until the 2023 revision, also at Rs 1,000 per sq.ft. The subsequent 2024 revision maintained this value at Rs 1,000 per sq.ft, signifying no change from the previous year.

Looking further back, the 2017 revision recorded a guideline value of Rs 670 per sq.ft, which represented a significant increase of 49% by the 2023 revision. The 2012 to 2017 period saw a decrease of 33% in the guideline value. Overall, from 2012 to 2024, the guideline value has remained the same at Rs 1,000 per sq.ft.

Guideline values in Molachoor

In Molachoor, there are 112 streets under the Sunguvarchattram SRO with a 2024 guideline value ranging from Rs 300 to Rs 2,000 per sq.ft. The median guideline value for these streets is Rs 600 per sq.ft, making Spring County's 2024 figure of Rs 1,000 per sq.ft above the median.

• SelvaGanapathy Street: Rs 600 per sq.ft (2024)
• School Street: Rs 600 per sq.ft (2024)
• Sathya Nagar: Rs 605 per sq.ft (2024)
• SaraCisilia Avenue: Rs 605 per sq.ft (2024)
• Santha Nagar Extension: Rs 1,000 per sq.ft (2024)
• Santha Nagar: Rs 600 per sq.ft (2024)

Stamp duty and registration fee for property in Spring County

For a 1,000 sq.ft plot at the current guideline value of Rs 1,000 per sq.ft, the total guideline value would be Rs 10,00,000. The stamp duty at 7% would amount to Rs 70,000, while the registration fee at 2% would be Rs 20,000, bringing the total cost to Rs 90,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Spring County?

The Sub Registrar Office covering Spring County 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 details.

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

The guideline value plays a crucial role during the registration process of property transactions in Molachoor. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue from stamp duty and registration fees.

When buying or selling property, the guideline value is referenced to ascertain the applicable charges. Buyers should be aware that the stamp duty and registration fees are calculated based on the higher of the guideline value or the sale price, which can impact the overall cost of the transaction.

Frequently asked questions

What is the current guideline value of Spring County?

The current guideline value of Spring County is Rs 1,000 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has remained at Rs 1,000 per sq.ft from 2012 to 2024, with a notable increase from Rs 670 per sq.ft in 2017 to Rs 1,000 per sq.ft in 2023.

What is the median guideline value in Molachoor?

The median guideline value for the 112 streets in Molachoor is Rs 600 per sq.ft, with Spring County's value being above this median.

What are the stamp duty and registration fees for property in Spring County?

For a property valued at Rs 10,00,000, the stamp duty would be Rs 70,000 and the registration fee would be Rs 20,000, totaling Rs 90,000.

Where is the Sub Registrar Office for Spring County located?

The Sunguvarchattram Sub Registrar Office is located at Vadivamal Nagar Kandigai Road, opposite Caparo Company, Sunguvarchatram, Chengalpattu registration zone.