Guideline Value for Sri Mugambigai Nagar

Sri Mugambigai Nagar guideline value

The current guideline value of Sri Mugambigai Nagar, located in Malliyankaranai village under the Uthiramerur SRO, is Rs 300 per sq.ft as per the 2024 revision, effective from 1 July 2024. The land classification for this area is Residential Special Type - I.

How the guideline value of Sri Mugambigai Nagar has changed

The guideline value for Sri Mugambigai Nagar has undergone several revisions over the years. The 2012 revision set the value at Rs 300 per sq.ft, which then changed to Rs 201 per sq.ft in the 2017 revision, marking a decrease of 33%. However, from 2017 to the 2023 revision, the value increased significantly by 49%, bringing it back to Rs 300 per sq.ft. The 2023 revision maintained this value, and the 2024 revision also confirmed it at Rs 300 per sq.ft, reflecting no change from the previous year.

There are no figures available for the years 2002, 2003, and 2007 in the register for this street.

Guideline values in Malliyankaranai

In Malliyankaranai, there are 42 streets under the Uthiramerur SRO that carry a 2024 guideline value ranging from Rs 200 to Rs 603 per sq.ft, with the median value being Rs 401 per sq.ft. Sri Mugambigai Nagar's 2024 figure is below this median.

• Sri Lakshmi Nagar Extension: Rs 603 per sq.ft (2024)
• Sri Lakshmi Nagar: Rs 402 per sq.ft (2024)
• Sri Chelliyamman Nagar: Rs 402 per sq.ft (2024)
• Sri Sakthi Vinayaga Nagar: Rs 401 per sq.ft (2024)
• Sulaiman Nagar: Rs 401 per sq.ft (2024)
• Sami Nagar: Rs 250 per sq.ft (2024)

Stamp duty and registration fee for property in Sri Mugambigai Nagar

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, leading to a total cost of Rs 27,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Sri Mugambigai Nagar?

The Sub Registrar Office that covers Sri Mugambigai Nagar is the Uthiramerur Sub Registrar Office, located at No.16, Sundara Vardharaja Perumal Koil Sannathi Street, Uthiramerur- 603406, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in property transactions in Malliyankaranai. It is used to determine the stamp duty and registration fees payable during the sale or purchase of property. Buyers and sellers must be aware of the guideline value as it directly impacts the overall cost of the transaction.

When registering a property, the guideline value is compared with the sale price, and the higher of the two is used to calculate the applicable fees. This ensures that the registration process is aligned with the official valuation of the property.

Frequently asked questions

What is the current guideline value of Sri Mugambigai Nagar?

The current guideline value of Sri Mugambigai Nagar is Rs 300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen changes from Rs 300 per sq.ft in 2012 to Rs 201 per sq.ft in 2017, then back to Rs 300 per sq.ft in 2023 and 2024. The overall change from 2012 to 2024 is 0%.

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

Other streets in Malliyankaranai have varying guideline values, ranging from Rs 200 to Rs 603 per sq.ft. For example, Sri Lakshmi Nagar Extension is Rs 603 per sq.ft, while Sami Nagar is Rs 250 per sq.ft.

How is stamp duty calculated for properties in Sri Mugambigai Nagar?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For a property valued at Rs 3,00,000, the stamp duty would be Rs 21,000 at a rate of 7%.

Where can I find the Sub Registrar Office for Sri Mugambigai Nagar?

The Sub Registrar Office for Sri Mugambigai Nagar is located at No.16, Sundara Vardharaja Perumal Koil Sannathi Street, Uthiramerur- 603406, Chengalpattu registration zone.