Guideline Value for Sri Mookambigai Nagar

Sri Mookambigai Nagar guideline value

The current guideline value of Sri Mookambigai Nagar is Rs 900 per sq.ft as per the 2023 revision. This area falls under Nalambakkam village and is registered with the Gooduvancheri SRO. The land classification for this locality is Residential Special Type - III.

How the guideline value of Sri Mookambigai Nagar has changed

The guideline value for Sri Mookambigai Nagar has seen several revisions over the years. In the 2007 revision, the guideline value was Rs 120 per sq.ft, which increased significantly to Rs 900 per sq.ft in the 2012 revision, marking a remarkable increase of 650%. However, in the 2017 revision, the value dropped to Rs 603 per sq.ft, a decrease of 33% from the previous revision. As of the 2023 revision, the guideline value is back to Rs 900 per sq.ft, reflecting a 49% increase from the 2017 figure.

Overall, from the 2007 revision to the 2023 revision, the guideline value has increased by 650%. It is important to note that there are no figures available for the revisions in 2002, 2003, and 2024 for this street.

Guideline values in Nalambakkam

Currently, there are no specific village figures provided for Nalambakkam. Sri Mookambigai Nagar is part of this locality, which is under the jurisdiction of the Gooduvancheri SRO.

Stamp duty and registration fee for property in Sri Mookambigai Nagar

For a 1,000 sq.ft plot at the current rate of Rs 900 per sq.ft, the guideline value amounts to Rs 9,00,000. The stamp duty at 7% would be Rs 63,000, and the registration fee at 2% would be Rs 18,000, bringing the total to Rs 81,000. It is essential 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 detailed calculations.

Which Sub Registrar Office covers Sri Mookambigai Nagar?

The Sub Registrar Office that covers Sri Mookambigai Nagar is the Gooduvancheri Sub Registrar Office, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvancheri-603202, Chengalpattu registration zone.

To find your SRO, you can visit find your SRO.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Nalambakkam. It serves as a benchmark for determining the stamp duty and registration fees that must be paid during the transaction.

When a property is sold, the guideline value is compared to the sale price, and the higher amount is used to calculate the applicable duties. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Sri Mookambigai Nagar?

The current guideline value of Sri Mookambigai Nagar is Rs 900 per sq.ft as per the 2023 revision.

How has the guideline value changed over the years?

The guideline value has changed from Rs 120 per sq.ft in 2007 to Rs 900 per sq.ft in 2012, then decreased to Rs 603 per sq.ft in 2017, and is now back to Rs 900 per sq.ft in 2023.

What is the stamp duty rate for properties in Sri Mookambigai Nagar?

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

Where is the Gooduvancheri Sub Registrar Office located?

The Gooduvancheri Sub Registrar Office is located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvancheri-603202, Chengalpattu registration zone.

How is the guideline value determined?

The guideline value is determined by the Registration Department and is periodically revised based on various factors. It serves as a reference point for property transactions in the area.