Guideline Value for T.MP. Nagar Thiru-Vi-Ka Street

T.MP. Nagar Thiru-Vi-Ka Street guideline value

The current guideline value for T.MP. Nagar Thiru-Vi-Ka Street is Rs 3,800 per sq.ft, effective from 1 July 2024. This street is located in Mugappair village under the Konnur SRO, classified as Residential Class II Type - I.

How the guideline value of T.MP. Nagar Thiru-Vi-Ka Street has changed

The guideline value for T.MP. Nagar Thiru-Vi-Ka Street has seen several revisions over the years. Starting from the 2003 revision, the guideline value was Rs 451 per sq.ft. This increased to Rs 800 per sq.ft in 2007, marking a significant rise of 77%. The value then surged to Rs 3,500 per sq.ft in 2012, representing a remarkable increase of 338%. However, it dropped to Rs 2,345 per sq.ft in 2017, a decrease of 33%. The next revision in 2023 saw the value rise again to Rs 3,500 per sq.ft, followed by the latest revision in 2024, which set the current value at Rs 3,800 per sq.ft, an increase of 9% from the previous year.

Overall, from 2003 to 2024, the guideline value has increased by 743%. It is important to note that there is no figure available for the year 2002 in the register for this street.

Guideline values in Mugappair

Mugappair village has a total of 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 guideline value in this area is Rs 7,100 per sq.ft, indicating that T.MP. Nagar Thiru-Vi-Ka Street's current value is below this median.

• T.M.P. Nagar Thiruvalluvar Street: Rs 3,800 per sq.ft (2024)
• T.M.P. Nagar Sundarar 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 Quiathemillath Street: Rs 5,500 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.MP. Nagar Thiru-Vi-Ka 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 or the sale price.

You can use the stamp duty and registration fee calculator for more details on your specific property transaction.

Which Sub Registrar Office covers T.MP. Nagar Thiru-Vi-Ka Street?

The Sub Registrar Office that covers T.MP. Nagar Thiru-Vi-Ka Street is the Konnur Sub Registrar Office, located at Villivakkam Panchayat, Union Office Complex, Dunlop Bus Stop, Ambattur, Chennai. For more information, you can find your SRO.

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

The guideline value plays a crucial role in property transactions in Mugappair. It is used to determine the stamp duty and registration fees that are applicable when buying or selling property. Buyers and sellers must consider the guideline value to ensure compliance with local regulations during the registration process.

When a property is sold, the guideline value is compared with the sale price, and the higher amount is used to calculate the applicable duties and fees. This ensures that the government receives the correct revenue from property transactions.

Frequently asked questions

What is the current guideline value of T.MP. Nagar Thiru-Vi-Ka Street?

The current guideline value of T.MP. Nagar Thiru-Vi-Ka 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 451 per sq.ft in 2003 to Rs 3,800 per sq.ft in 2024, showing an overall increase of 743% over the years.

What is the registration office for T.MP. Nagar Thiru-Vi-Ka Street?

The registration office for T.MP. Nagar Thiru-Vi-Ka Street is the Konnur Sub Registrar Office, located at Villivakkam Panchayat, Union Office Complex, Dunlop Bus Stop, Ambattur, Chennai.

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

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher, while the registration fee is 2% of the same. For example, for a property valued at Rs 38,00,000, the total fees would be Rs 3,42,000.

Where can I find more information about stamp duty and registration fees?

For more details regarding stamp duty and registration fees, you can use the stamp duty and registration fee calculator.