Guideline Value for Spring rains phase - II

Spring rains phase - II guideline value

The current guideline value of Spring rains phase - II in Mudhukoor village, under the Sunguvarchattram SRO, is Rs 448 per sq.ft, effective from 1 July 2024. This classification falls under Residential Special Type - II.

How the guideline value of Spring rains phase - II has changed

The guideline value for Spring rains phase - II has seen several revisions over the years. The 2017 revision set the value at Rs 215 per sq.ft, which increased to Rs 321 per sq.ft in 2023. The latest revision in 2024 has raised this figure to Rs 448 per sq.ft, marking a significant increase of 40% from 2023 to 2024 and 49% from 2017 to 2023. Overall, from 2017 to 2024, the guideline value has increased by 108%.

It is important to note that there are no figures available for the years 2002, 2003, 2007, and 2012 for this street. This lack of data means we can only focus on the revisions from 2017, 2023, and 2024.

Guideline values in Mudhukoor

Mudhukoor village has a total of 29 streets under the Sunguvarchattram SRO that carry a 2024 guideline value, ranging from Rs 200 to Rs 448 per sq.ft. The median value for these streets is Rs 200 per sq.ft, making the guideline value for Spring rains phase - II above that median.

• Spring rains phase - I: Rs 448 per sq.ft (2024)
• Spring Rains: Rs 300 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 phase - II

For a 1,000 sq.ft plot at the current guideline value of Rs 448 per sq.ft, the total guideline value amounts to Rs 4,48,000. The stamp duty at 7% would be Rs 31,360, and the registration fee at 2% would be Rs 8,960, leading to a total cost of Rs 40,320. 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 phase - II?

The Sub Registrar Office that covers Spring rains phase - II 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 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 determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is sold, the guideline value is used to assess the applicable charges, ensuring that both parties are aware of the financial obligations involved in the transfer of ownership.

Frequently asked questions

What is the current guideline value for Spring rains phase - II?

The current guideline value for Spring rains phase - II is Rs 448 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed recently?

From the 2023 revision to the 2024 revision, the guideline value increased by 40%. Overall, from 2017 to 2024, it has increased by 108%.

What is the land classification for Spring rains phase - II?

The land classification for Spring rains phase - II is Residential Special Type - II.

Where can I find the registration office for this area?

The registration office for Spring rains phase - II is the Sunguvarchattram Sub Registrar Office, located at Vadivamal Nagar Kandigai Road, opposite Caparo Company, Sunguvarchatram, Chengalpattu registration zone.

How is the stamp duty calculated for properties in this area?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, on a property valued at Rs 4,48,000, the stamp duty would be Rs 31,360 at a rate of 7%.