Guideline Value for VallaKottai Murugan Nagar

VallaKottai Murugan Nagar guideline value

The current guideline value of VallaKottai Murugan Nagar is Rs 605 per sq.ft, effective from 1 July 2024. This area is located in Molachoor village and falls under the Sunguvarchattram SRO. The land classification for this street is Residential Class III Type - I.

How the guideline value of VallaKottai Murugan Nagar has changed

The guideline value for VallaKottai Murugan Nagar has seen significant changes over the years. In 2007, the guideline value was Rs 120 per sq.ft, which increased to Rs 400 per sq.ft in 2012. The value then rose to Rs 402 per sq.ft in 2017, marking a 1% increase from the previous revision. From 2017 to 2023, the value jumped to Rs 600 per sq.ft, reflecting a substantial increase of 49%. The latest revision in 2024 has set the guideline value at Rs 605 per sq.ft, a 1% increase from the 2023 figure.

It is important to note that the register has no figures for the years 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 404%, showcasing a consistent upward trend in the valuation of properties in this area.

Guideline values in Molachoor

In Molachoor, there are 112 streets under the Sunguvarchattram SRO that carry a 2024 guideline value ranging from Rs 300 to Rs 2,000 per sq.ft. The median value for these streets is Rs 600 per sq.ft, placing VallaKottai Murugan Nagar's 2024 figure above this median.

• Vallalar Street: Rs 600 per sq.ft (2024)
• Vadivambal Nagar: Rs 600 per sq.ft (2024)
• Thornas Street: Rs 500 per sq.ft (2024)
• Thiruvalluvar Street: Rs 600 per sq.ft (2024)
• Thiruvalluvar Nagar: Rs 300 per sq.ft (2024)
• Thiruvallur Road (Up to Anthaiya Naidu Nagar): Rs 1,800 per sq.ft (2024)

Stamp duty and registration fee for property in VallaKottai Murugan Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 605 per sq.ft, the total guideline value would be Rs 6,05,000. The stamp duty at 7% would amount to Rs 42,350, while the registration fee at 2% would be Rs 12,100. Together, the total cost for stamp duty and registration fee would be Rs 54,450. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers VallaKottai Murugan Nagar?

The Sub Registrar Office that covers VallaKottai Murugan Nagar is the Sunguvarchattram Sub Registrar Office, located at Vadivamal Nagar Kandigai Road, opposite Caparo Company, Sunguvarchatram, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Molachoor. It serves as a benchmark for determining the minimum value at which a property can be registered. Buyers and sellers must consider this value to ensure compliance with legal requirements during the transaction.

When a property is sold, the guideline value is used to calculate the applicable stamp duty and registration fees. This ensures that the transaction is recorded accurately and that the necessary taxes are paid to the government. Understanding the guideline value is essential for both buyers and sellers in the property market.

Frequently asked questions

What is the current guideline value of VallaKottai Murugan Nagar?

The current guideline value of VallaKottai Murugan Nagar is Rs 605 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 120 per sq.ft in 2007 to Rs 605 per sq.ft in 2024, marking an overall increase of 404% over the years.

What is the land classification for VallaKottai Murugan Nagar?

The land classification for VallaKottai Murugan Nagar is Residential Class III Type - I.

Where is the Sub Registrar Office located?

The Sub Registrar Office for VallaKottai Murugan Nagar is located at Vadivamal Nagar Kandigai Road, opposite Caparo Company, Sunguvarchatram, Chengalpattu registration zone.

How is stamp duty calculated for properties in VallaKottai Murugan Nagar?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 6,05,000, the stamp duty would be Rs 42,350 at 7%.