Guideline Value for Spring Rains

Spring Rains guideline value

The current guideline value for Spring Rains in Mudhukoor village, under the Sunguvarchattram SRO, is Rs 300 per sq.ft, effective from 1 July 2024. This area is classified as Residential Special Type - I.

How the guideline value of Spring Rains has changed

Over the years, the guideline value for Spring Rains has seen several revisions. The 2012 revision set the value at Rs 300 per sq.ft, which remained unchanged in the 2017 revision. However, the 2017 revision saw a decrease to Rs 201 per sq.ft, which was then increased to Rs 300 per sq.ft in both the 2023 and 2024 revisions, showing no change from 2023 to 2024. Notably, there are no figures available for the years 2002, 2003, and 2007 in the register for this street.

From 2012 to 2017, there was a decrease of 33%, followed by a significant increase of 49% from 2017 to 2023. Overall, the guideline value has remained the same from 2012 to 2024, reflecting a stable valuation in recent years.

Guideline values in Mudhukoor

Mudhukoor village has 29 streets under the Sunguvarchattram SRO that carry a 2024 guideline value, ranging from Rs 200 to Rs 448 per sq.ft. The guideline value for Spring Rains is above the median value of Rs 200 per sq.ft in the village.

• Spring rains phase - I: Rs 448 per sq.ft (2024)
• Spring rains phase - II: Rs 448 per sq.ft (2024)
• Sri Balaji Garden: Rs 200 per sq.ft (2024)
• Thirowpathiamman Kovil Street: Rs 200 per sq.ft (2024)
• Pillaiyar Koil Street: Rs 250 per sq.ft (2024)
• Perumal Kovil Street: Rs 250 per sq.ft (2024)

Stamp duty and registration fee for property in Spring Rains

For a 1,000 sq.ft plot at the current guideline value of Rs 300 per sq.ft, the total guideline value amounts to Rs 3,00,000. The stamp duty at 7% would be Rs 21,000, and the registration fee at 2% would be Rs 6,000, resulting in a total of Rs 27,000. 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 Spring Rains?

The Sub Registrar Office covering Spring Rains 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 plays a crucial role in the registration process when buying or selling property in Mudhukoor. It serves as a benchmark for calculating stamp duty and registration fees, ensuring that the government receives appropriate revenue from property transactions.

When a property is sold, the sale price must be compared to the guideline value. The higher of the two figures is used to determine the applicable stamp duty and registration fees, which are essential for the legal transfer of property ownership.

Frequently asked questions

What is the current guideline value of Spring Rains?

The current guideline value of Spring Rains in Mudhukoor village is Rs 300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has remained at Rs 300 per sq.ft in both the 2023 and 2024 revisions. It decreased from Rs 300 to Rs 201 per sq.ft in 2017, then increased back to Rs 300 in 2023.

What is the classification of land in Spring Rains?

The land in Spring Rains is classified as Residential Special Type - I, indicating its suitability for residential development.

Where is the Sub Registrar Office for Spring Rains located?

The Sub Registrar Office for Spring Rains is located at Vadivamal Nagar Kandigai Road Caparo Company Opp, Sunguvarchatram, Chengalpattu registration zone.

How is stamp duty calculated for property in Spring Rains?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a 1,000 sq.ft plot at the guideline value of Rs 300 per sq.ft, the total guideline value is Rs 3,00,000, leading to a stamp duty of Rs 21,000.