Guideline Value for CHINNAKADA MAGIMAIDOSS FIRST STREET

Chinnakada Magimaidoss First Street guideline value

The current guideline value of Chinnakada Magimaidoss First Street is Rs 750 per sq.ft, effective from 1 July 2024. This street is located in Walajabad village, under the Walajabad SRO, and falls under the Residential Class IV Type - I land classification.

How the guideline value of Chinnakada Magimaidoss First Street has changed

The guideline value for Chinnakada Magimaidoss First Street has undergone several revisions over the years. In the 2007 revision, the value was Rs 60 per sq.ft, which saw a significant increase of 1150% to Rs 750 per sq.ft in the 2012 revision. However, from 2012 to 2017, the value decreased by 33% to Rs 502 per sq.ft. The subsequent revisions in 2023 and 2024 maintained the guideline value at Rs 750 per sq.ft, reflecting no change between these two years.

Overall, from the 2007 revision to the current 2024 revision, the guideline value has increased by 1150%. It is important to note that there are no figures available for this street in the 2002 and 2003 revisions.

Guideline values in Walajabad

In Walajabad, there are 196 streets under the Walajabad SRO that carry a 2024 guideline value, ranging from Rs 400 to Rs 2,000 per sq.ft. The median guideline value for these streets is Rs 750 per sq.ft, which is equal to the current value for Chinnakada Magimaidoss First Street.

• Chinnakadai Third Pallavaram Arumuga Srteet: Rs 750 per sq.ft (2024)
• Chinnakada Ponnamaammal Street: Rs 750 per sq.ft (2024)
• Chinnakadai Second Bungalow Srteet: Rs 750 per sq.ft (2024)
• Chinnakadai Sakkiliar Nattham Nagara Suthi: Rs 750 per sq.ft (2024)
• Chinnakadai Magimaidhas Forth Street: Rs 750 per sq.ft (2024)
• Chinnakadai Arulnathan Street: Rs 750 per sq.ft (2024)

Stamp duty and registration fee for property in Chinnakada Magimaidoss First Street

For a 1,000 sq.ft plot at the current guideline value of Rs 750 per sq.ft, the total guideline value would be Rs 7,50,000. The stamp duty at 7% would amount to Rs 52,500, and the registration fee at 2% would be Rs 15,000, bringing the total cost to Rs 67,500. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Chinnakada Magimaidoss First Street?

The Sub Registrar Office that covers Chinnakada Magimaidoss First Street is the Walajabad Sub Registrar Office, located at Sriperumbudur Road, Walajabad-631 605, Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Walajabad. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring transparency in transactions.

When a property is sold, the buyer must pay stamp duty and registration fees based on the guideline value or the sale price, whichever is higher. This ensures that the government receives appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Chinnakada Magimaidoss First Street?

The current guideline value of Chinnakada Magimaidoss First Street is Rs 750 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 60 per sq.ft in 2007 to Rs 750 per sq.ft in 2012, then decreased to Rs 502 per sq.ft in 2017, and has remained at Rs 750 per sq.ft in the 2023 and 2024 revisions.

What is the land classification for Chinnakada Magimaidoss First Street?

Chinnakada Magimaidoss First Street falls under the Residential Class IV Type - I land classification.

Where is the Walajabad Sub Registrar Office located?

The Walajabad Sub Registrar Office is located at Sriperumbudur Road, Walajabad-631 605, Chengalpattu registration zone.

How is stamp duty calculated for properties in Chinnakada Magimaidoss First Street?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at Rs 750 per sq.ft would incur a stamp duty of Rs 52,500.