Guideline Value for Spring rains phase - I

Spring rains phase - I guideline value

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

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

The guideline value for Spring rains phase - I has undergone 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 most recent revision in 2024 saw a significant change, bringing the guideline value to Rs 448 per sq.ft, marking a 40% increase from 2023. Overall, from 2017 to 2024, the guideline value has increased by 108%.

There are no figures available for the revisions in 2002, 2003, 2007, and 2012 for this street. The only revisions that provide figures are from 2017, 2023, and 2024.

Guideline values in Mudhukoor

Mudhukoor village has 29 streets under the Sunguvarchattram SRO, with guideline values ranging from Rs 200 to Rs 448 per sq.ft. The median guideline value in this village is Rs 200 per sq.ft, making the current value of Spring rains phase - I above that median.

• Spring Rains: Rs 300 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 phase - I

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, bringing the total charges to Rs 40,320. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Spring rains phase - I?

The Sub Registrar Office that covers Spring rains phase - I is the Sunguvarchattram Sub Registrar Office, located at Vadivamal Nagar Kandigai Road, Caparo Company Opp, Sunguvarchatram, Chengalpattu registration zone. To find your specific SRO, you can visit find your SRO.

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

The guideline value is a crucial factor 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 property transaction process.

When registering a property, the guideline value is used to calculate the applicable duties and fees, ensuring that both buyers and sellers are aware of the financial implications associated with the transaction. This transparency helps in facilitating smoother property dealings.

Frequently asked questions

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

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

How much has the guideline value changed over the years?

From 2017 to 2024, the guideline value increased by 108%. The value rose from Rs 215 per sq.ft in 2017 to Rs 448 per sq.ft in 2024.

What are the other streets in Mudhukoor and their guideline values?

Other streets in Mudhukoor include Spring Rains at Rs 300 per sq.ft, Spring rains phase - II at Rs 448 per sq.ft, Sri Balaji Garden and Thirowpathiamman Kovil Street both at Rs 200 per sq.ft, and Pillaiyar Koil Street and Perumal Kovil Street both at Rs 250 per sq.ft, all for the year 2024.

Where can I find the Sub Registrar Office for this area?

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

How are stamp duty and registration fees calculated?

Stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at the guideline value of Rs 448 per sq.ft, the total charges would amount to Rs 40,320.