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Guideline Value

Corporate

Guideline Value for Sri Uma Mageshwari Nagar

₹1006/sq.ft.

The guideline value for Sri Uma Mageshwari Nagar in Chettimedu village (Redhills SRO, Chennai zone) is Rs 1006 per sq.ft, effective 1 July 2024. It was Rs 300 per sq.ft from 1 April 2023, a 235% change. The land classification is Residential Class Iii Type - I. Source: TNReginet guideline value register.

Last updated:

Chennai

Zone

Chettimedu

Village

Redhills

SRO

Residential Class III Type - I
History
Period Guideline Value
From 1-7-2024 ₹1006 /sq.ft.
From 1-4-2023 ₹300 /sq.ft.
From 9-6-2017 To 31-3-2023 ₹201 /sq.ft.
From 1-4-2012 To 8-6-2017 ₹300 /sq.ft.
From 1-8-2007 To 31-3-2012 ₹100 /sq.ft.
From 1-4-2003 To 31-7-2007 N/A
From 1-4-2002 To 31-3-2003 N/A
Guideline Value Timeline
Guideline Value Comparison

SRO (Sub Registrar Office)

Sub Registrar Office, Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.
044-29570109
[email protected]

DRO (District Registrar Office)

District Registrar Office Jvc Complex Near Icmr Vedingallur Thiruvallur -631203
044-27661230
[email protected], [email protected]

DIG (Deputy Inspector General)

Integrated Building For Offices Of The Commercial Taxes And Registration, Department Fanepet, Nandanam, Chennai - 600 035.
044-29510527
[email protected]
Records for a plot on Sri Uma Mageshwari Nagar

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Sri Uma Mageshwari Nagar guideline value

The current guideline value of Sri Uma Mageshwari Nagar, located in Chettimedu village under the Redhills SRO, is Rs 1,006 per sq.ft, effective from 1 July 2024. This area falls under the Residential Class III Type - I land classification.

How the guideline value of Sri Uma Mageshwari Nagar has changed

Over the years, the guideline value of Sri Uma Mageshwari Nagar has seen significant changes. In 2007, the guideline value was Rs 100 per sq.ft, which increased to Rs 300 per sq.ft in 2012, marking a 200% rise. However, it then decreased to Rs 201 per sq.ft in 2017, reflecting a decline of 33%. The value further increased to Rs 300 per sq.ft in 2023, and most recently, it surged to Rs 1,006 per sq.ft in 2024, which is a remarkable increase of 235% from the previous year.

Overall, from 2007 to 2024, the guideline value has increased by 906%. It is important to note that the register has no figure for this street for the years 2002 and 2003.

Guideline values in Chettimedu

In Chettimedu, there are 26 streets under the Redhills SRO that carry a 2024 guideline value ranging from Rs 1,000 to Rs 1,008 per sq.ft, with a median value of Rs 1,002 per sq.ft. Sri Uma Mageshwari Nagar's 2024 guideline value is above this median.

Stamp duty and registration fee for property in Sri Uma Mageshwari Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,006 per sq.ft, the total guideline value would be Rs 10,06,000. The stamp duty at 7% would amount to Rs 70,420, and the registration fee at 2% would be Rs 20,120, bringing the total cost to Rs 90,540. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can also use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Sri Uma Mageshwari Nagar?

The Sub Registrar Office that covers Sri Uma Mageshwari Nagar is the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052. You can find your SRO for more information.

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

The guideline value plays a crucial role during the registration process when buying or selling property in Chettimedu. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid. Buyers and sellers must consider the guideline value to ensure compliance with local regulations and to avoid any legal complications.

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 duties. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Sri Uma Mageshwari Nagar?

The current guideline value of Sri Uma Mageshwari Nagar is Rs 1,006 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

Since 2007, the guideline value has increased from Rs 100 per sq.ft to Rs 1,006 per sq.ft in 2024, marking an overall increase of 906% over this period.

What are the stamp duty and registration fees for property in Sri Uma Mageshwari Nagar?

For a 1,000 sq.ft property at the current guideline value, the total stamp duty and registration fees amount to Rs 90,540, based on the guideline value of Rs 10,06,000.

Which office handles property registration in Sri Uma Mageshwari Nagar?

The Redhills Sub Registrar Office handles property registration for Sri Uma Mageshwari Nagar, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.

What is the significance of the guideline value in property transactions?

The guideline value is significant as it determines the stamp duty and registration fees payable during property transactions. It ensures that the correct amount is paid based on either the guideline value or the sale price, whichever is higher.