Guideline Value for Sri Mukthi Vinayagar Nagar

Sri Mukthi Vinayagar Nagar guideline value

The current guideline value for Sri Mukthi Vinayagar Nagar is Rs 500 per sq.ft, effective from 1 July 2024. This area is located in Orathur village and falls under the Gooduvancheri SRO. The land classification for this street is Residential Special Type - II.

How the guideline value of Sri Mukthi Vinayagar Nagar has changed

Over the years, the guideline value for Sri Mukthi Vinayagar Nagar has seen several revisions. The 2007 revision set the value at Rs 150 per sq.ft, which increased significantly to Rs 500 per sq.ft in the 2012 revision. However, in the 2017 revision, the value was adjusted down to Rs 335 per sq.ft. The value remained the same at Rs 500 per sq.ft in the 2023 revision and continues at this rate in the 2024 revision, showing no change from the previous year.

From 2007 to 2024, the overall increase in the guideline value is 233%. Specifically, the change from 2017 to 2023 saw a 49% increase, while the transition from 2012 to 2017 experienced a decrease of 33%. The register does not provide figures for the years 2002 and 2003 for this street.

Guideline values in Orathur

In Orathur, there are 80 streets under the Gooduvancheri SRO that have a guideline value for 2024, ranging from Rs 335 to Rs 1,700 per sq.ft. The median guideline value for these streets is Rs 500 per sq.ft, making Sri Mukthi Vinayagar Nagar's 2024 figure equal to that median.

• SRI Maruthi Nagar Phase I: Rs 500 per sq.ft (2024)
• Sri Maruthi Nagar: Rs 500 per sq.ft (2024)
• Sri Lakshmi Nagar: Rs 500 per sq.ft (2024)
• Sri Parvathi Amman Nagar: Rs 500 per sq.ft (2024)
• Sri Ganesh Nagar: Rs 500 per sq.ft (2024)
• Sri Devi Karumariyamman Nagar: Rs 500 per sq.ft (2024)

Stamp duty and registration fee for property in Sri Mukthi Vinayagar Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 500 per sq.ft, the total guideline value would be Rs 5,00,000. The stamp duty at 7% would amount to Rs 35,000, and the registration fee at 2% would be Rs 10,000, bringing the total charges to Rs 45,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Sri Mukthi Vinayagar Nagar?

The Sub Registrar Office that covers Sri Mukthi Vinayagar Nagar is the Gooduvancheri Sub Registrar Office, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvancheri-603202, Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value is an essential factor in property transactions in Orathur, as it determines the minimum value on which stamp duty and registration fees are calculated. When buying or selling a property, the guideline value serves as a reference point for both the buyer and seller, ensuring that the transaction is recorded accurately with the authorities.

Additionally, the guideline value helps in maintaining transparency in property transactions, as it reflects the official valuation set by the government. Buyers should be aware of the guideline value to ensure they are paying the correct amount in duties and fees during the registration process.

Frequently asked questions

What is the current guideline value for Sri Mukthi Vinayagar Nagar?

The current guideline value for Sri Mukthi Vinayagar Nagar is Rs 500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed several times, with the most recent revisions showing no change from 2023 to 2024. The overall increase from 2007 to 2024 is 233%.

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

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

What are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 5,00,000, the stamp duty would be Rs 35,000 and the registration fee would be Rs 10,000, totaling Rs 45,000. These fees are based on the guideline value or the sale price, whichever is higher.

How does the guideline value affect property transactions?

The guideline value is used to calculate the stamp duty and registration fees during property transactions. It serves as a reference for both buyers and sellers to ensure accurate recording of the transaction with the authorities.