Guideline Value for T.M.P. Nagar Periyar Street

T.M.P. Nagar Periyar Street guideline value

The current guideline value of T.M.P. Nagar Periyar Street is Rs 3,800 per sq.ft, effective from 1 July 2024. This street is located in Mugappair village under the Konnur SRO, and it falls under the Residential Class II Type - I land classification.

How the guideline value of T.M.P. Nagar Periyar Street has changed

The guideline value for T.M.P. Nagar Periyar Street has undergone several revisions over the years. In 2002, the value was Rs 322 per sq.ft, which increased to Rs 354 per sq.ft in 2003. The value saw a significant rise to Rs 800 per sq.ft in 2007. It then increased to Rs 3,500 per sq.ft in 2012, followed by a drop to Rs 2,345 per sq.ft in 2017. The value rose again to Rs 3,500 per sq.ft in 2023, and finally, it is now Rs 3,800 per sq.ft in 2024.

The changes between these revisions show a varied trend. From 2002 to 2003, the increase was +10%. The value jumped by +126% from 2003 to 2007. However, there was a decrease of -33% from 2012 to 2017. The value increased by +49% from 2017 to 2023, and the most recent change from 2023 to 2024 reflects a rise of +9%. Overall, from 2002 to 2024, the guideline value has increased by +1080%.

Guideline values in Mugappair

Mugappair village has 224 streets under the Konnur SRO, with guideline values for 2024 ranging from Rs 3,300 to Rs 8,800 per sq.ft. The median value for these streets is Rs 7,100 per sq.ft, making the guideline value of T.M.P. Nagar Periyar Street below this median.

• T.M.P. Nagar Periyar 3rd Cross Street: Rs 3,800 per sq.ft (2024)
• T.M.P. Nagar Quiathemillath Street: Rs 5,500 per sq.ft (2024)
• T.M.P. Nagar Nethaji Street: Rs 3,800 per sq.ft (2024)
• T.M.P. Nagar Seeralam Street: Rs 3,800 per sq.ft (2024)
• T.M.P. Nagar Nehruji Street: Rs 3,800 per sq.ft (2024)
• T.M.P. Nagar Sundarar Street: Rs 3,800 per sq.ft (2024)

Stamp duty and registration fee for property in T.M.P. Nagar Periyar Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,800 per sq.ft, the total guideline value would be Rs 38,00,000. The stamp duty at 7% would be Rs 2,66,000, and the registration fee at 2% would be Rs 76,000, making the total amount Rs 3,42,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers T.M.P. Nagar Periyar Street?

The Sub Registrar Office that covers T.M.P. Nagar Periyar Street is the Konnur Sub Registrar Office. The address is Villivakkam Panchayat, Union Office Complex, Dunlop Bus Stop, Ambattur, Chennai. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Mugappair. It determines the amount of stamp duty and registration fees that need to be paid, which are calculated based on the guideline value or the sale price, whichever is higher.

When a property is sold, the guideline value ensures that the transaction is recorded at a fair price, reflecting the current market conditions. This helps in maintaining transparency in property transactions and ensures that the government receives the appropriate revenue from property registrations.

Frequently asked questions

What is the current guideline value of T.M.P. Nagar Periyar Street?

The current guideline value of T.M.P. Nagar Periyar Street is Rs 3,800 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 322 per sq.ft in 2002 to Rs 3,800 per sq.ft in 2024, reflecting an overall increase of +1080% over this period.

What are the stamp duty and registration fees for property in T.M.P. Nagar Periyar Street?

The stamp duty is charged at 7% and the registration fee at 2% of the guideline value or sale price, whichever is higher. For a 1,000 sq.ft plot, the total fees would amount to Rs 3,42,000.

Which office handles property registrations in Mugappair?

The Konnur Sub Registrar Office handles property registrations in Mugappair. The office is located at Villivakkam Panchayat, Union Office Complex, Dunlop Bus Stop, Ambattur, Chennai.

What is the land classification for T.M.P. Nagar Periyar Street?

T.M.P. Nagar Periyar Street is classified as Residential Class II Type - I, indicating its suitability for residential purposes.