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

T.M.P. Nagar Sundarar Street guideline value

The current guideline value of T.M.P. Nagar Sundarar 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 is classified as Residential Class II Type - I.

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

The guideline value for T.M.P. Nagar Sundarar Street has seen several revisions over the years. The earliest record is from 2002, with a guideline value of Rs 322 per sq.ft. This increased to Rs 354 per sq.ft in 2003, marking a 10% rise. The value then rose significantly to Rs 800 per sq.ft in 2007, reflecting a 126% increase. In 2012, the guideline value was Rs 3,500 per sq.ft, which represented a 338% increase from the previous revision. However, this value dropped to Rs 2,345 per sq.ft in 2017, indicating a decrease of 33%.

In 2023, the guideline value was revised to Rs 3,500 per sq.ft, which was a 49% increase from the 2017 figure. The most recent revision in 2024 set the guideline value at Rs 3,800 per sq.ft, showing a 9% increase from the previous year. There are no figures available for other revisions for this street.

Guideline values in Mugappair

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

• T.M.P. Nagar Seeralam Street: Rs 3,800 per sq.ft (2024)
• T.M.P. Nagar Thiruvalluvar 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 Thiru-Vi-Ka Street: Rs 3,800 per sq.ft (2024)
• T.M.P. Nagar Periyar Street: Rs 3,800 per sq.ft (2024)
• T.M.P. Nagar Periyar 3rd Cross Street: Rs 3,800 per sq.ft (2024)

Stamp duty and registration fee for property in T.M.P. Nagar Sundarar 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 amount to Rs 2,66,000, and the registration fee at 2% would be Rs 76,000, bringing the total fees to 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. For more details, you can use the stamp duty and registration fee calculator.

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

The Sub Registrar Office that covers T.M.P. Nagar Sundarar Street is the Konnur Sub Registrar Office, located at Sub Register Office, 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 critical factor in the registration process when buying or selling property in Mugappair. It serves as a benchmark for determining the minimum value of the property, which is used to calculate stamp duty and registration fees. This ensures that the transaction is recorded at a fair value as per the government regulations.

When a property is sold, the guideline value helps in establishing the official value for the transaction. Buyers and sellers must be aware of the guideline value to ensure compliance with legal requirements and to avoid any disputes during the registration process.

Frequently asked questions

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

The current guideline value of T.M.P. Nagar Sundarar 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 from Rs 322 per sq.ft in 2002 to Rs 3,800 per sq.ft in 2024, representing an overall increase of 1080% over the years.

What are the stamp duty rates for property in T.M.P. Nagar Sundarar Street?

The stamp duty for property in T.M.P. Nagar Sundarar Street is 7% of the guideline value or sale price, whichever is higher.

Where can I find the Sub Registrar Office for T.M.P. Nagar Sundarar Street?

The Sub Registrar Office for T.M.P. Nagar Sundarar Street is the Konnur Sub Registrar Office, located at Sub Register Office, Villivakkam Panchayat, Union Office Complex, Dunlop Bus Stop, Ambattur, Chennai.

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

T.M.P. Nagar Sundarar Street is classified as Residential Class II Type - I.