Guideline Value for Sri Muppathamman Nagar

Sri Muppathamman Nagar guideline value

The current guideline value of Sri Muppathamman Nagar is Rs 600 per sq.ft, effective from 1 July 2024. This area is located in Neelamangalam village, under the Gooduvancheri SRO, and is classified as Residential Class IV Type - II.

How the guideline value of Sri Muppathamman Nagar has changed

Over the years, the guideline value of Sri Muppathamman Nagar has seen several revisions. The 2007 revision set the value at Rs 90 per sq.ft, which increased significantly to Rs 600 per sq.ft in the 2012 revision. However, this figure remained unchanged until the 2017 revision, which raised it to Rs 402 per sq.ft, marking a 49% increase. The 2023 revision maintained the value at Rs 600 per sq.ft, and this will also be the figure in the upcoming 2024 revision, showing no change.

Notably, the register has no figures for the years 2002 and 2003 for this street. Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 567%.

Guideline values in Neelamangalam

In Neelamangalam, there are 41 streets under the Gooduvancheri SRO, with guideline values ranging from Rs 400 to Rs 2,000 per sq.ft. The median value is Rs 600 per sq.ft, which means that the current guideline value of Sri Muppathamman Nagar aligns with this median.

• SRI Mayil vaganam Nagar: Rs 500 per sq.ft (2024)
• Sri Neelagandeswarar Nagar: Rs 1,200 per sq.ft (2024)
• Sri Iyyanar Nagar: Rs 500 per sq.ft (2024)
• Sri Ganapathi Nagar Colony: Rs 500 per sq.ft (2024)
• Sri Balaji Avenue (II & III): Rs 600 per sq.ft (2024)
• Sri Varasakthi Vinayagar Nagar: Rs 600 per sq.ft (2024)

Stamp duty and registration fee for property in Sri Muppathamman Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 600 per sq.ft, the total guideline value amounts to Rs 6,00,000. The stamp duty at 7% would be Rs 42,000, and the registration fee at 2% would be Rs 12,000, making the total cost for these fees Rs 54,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Sri Muppathamman Nagar?

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

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

The guideline value is a crucial factor during the registration of property transactions in Neelamangalam. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid, ensuring transparency in property dealings.

When buying or selling property, the guideline value helps in assessing the minimum value at which the property can be registered. This ensures that both buyers and sellers are aware of the official valuation, which aids in fair transactions.

Frequently asked questions

What is the current guideline value of Sri Muppathamman Nagar?

The current guideline value of Sri Muppathamman Nagar is Rs 600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen several revisions, starting from Rs 90 per sq.ft in 2007 to Rs 600 per sq.ft in 2012, with no change until 2023. The value increased to Rs 402 per sq.ft in 2017 and remained at Rs 600 per sq.ft in 2023 and 2024.

What is the land classification for Sri Muppathamman Nagar?

Sri Muppathamman Nagar is classified as Residential Class IV Type - II, which indicates its designation for residential purposes.

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

For a property valued at Rs 6,00,000, the stamp duty is Rs 42,000 and the registration fee is Rs 12,000, totaling Rs 54,000. These fees are calculated based on the guideline value or the sale price, whichever is higher.

Which office handles the registration for Sri Muppathamman Nagar?

The Gooduvancheri Sub Registrar Office handles the registration for Sri Muppathamman Nagar, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvanchery-603202, Chengalpattu registration zone.