Guideline Value for MA.CHANDRAN NAGAR

Ma.Chandran Nagar guideline value

The current guideline value of Ma.Chandran Nagar is Rs 1,300 per sq.ft, effective from 1 July 2024. This area is located in Korattur village, under the jurisdiction of the Villivakkam Sub Registrar Office (SRO). The land classification for this street is Residential Class IV Type - I.

How the guideline value of Ma.Chandran Nagar has changed

The guideline value of Ma.Chandran Nagar has undergone several revisions over the years. The 2012 revision set the value at Rs 1,200 per sq.ft, which was then reduced to Rs 804 per sq.ft in the 2017 revision. Following this, the 2023 revision increased the value to Rs 1,200 per sq.ft, and the latest 2024 revision has raised it further to Rs 1,300 per sq.ft. The register has no figures for the years 2002, 2003, and 2007 for this street.

Between the revisions, there have been notable changes. From 2012 to 2017, the value decreased by 33%, while from 2017 to 2023, it increased by 49%. The overall change from 2012 to 2024 is an increase of 8%.

Guideline values in Korattur

In Korattur, there are 617 streets under the Villivakkam SRO, with the 2024 guideline values ranging from Rs 1,100 to Rs 8,200 per sq.ft. The median value for these streets is Rs 2,500 per sq.ft, which means that the guideline value of Ma.Chandran Nagar is below this median.

• Maada Street: Rs 1,600 per sq.ft (2024)
• Madhanakuppam Road: Rs 2,100 per sq.ft (2024)
• Madhava Nagar: Rs 1,300 per sq.ft (2024)
• Maduravoyal Service Road: Rs 2,900 per sq.ft (2024)
• Mahalakshmi Nagar: Rs 1,600 per sq.ft (2024)
• Malar Nagar Mgr.Street: Rs 2,500 per sq.ft (2024)

Stamp duty and registration fee for property in Ma.Chandran Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,300 per sq.ft, the total guideline value would be Rs 13,00,000. The stamp duty at 7% would amount to Rs 91,000, and the registration fee at 2% would be Rs 26,000, making the total cost Rs 1,17,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use our stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Ma.Chandran Nagar?

Ma.Chandran Nagar is covered by the Villivakkam Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur EB Office. You can find your SRO for more details.

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

The guideline value plays a crucial role during property registration in Korattur. It is used to determine the stamp duty and registration fees that need to be paid when a property is bought or sold. This ensures that the transaction is in line with the government regulations and helps in maintaining transparency in property dealings.

When a buyer or seller approaches the Villivakkam SRO for registration, the guideline value is assessed to calculate the applicable fees. It is essential for both parties to be aware of the current guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Ma.Chandran Nagar?

The current guideline value of Ma.Chandran Nagar is Rs 1,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,200 per sq.ft in 2012 to Rs 804 per sq.ft in 2017, then to Rs 1,200 per sq.ft in 2023, and finally to Rs 1,300 per sq.ft in 2024.

What is the land classification for Ma.Chandran Nagar?

Ma.Chandran Nagar is classified as Residential Class IV Type - I.

Where can I find the Villivakkam Sub Registrar Office?

The Villivakkam Sub Registrar Office is located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur EB Office.

What is the median guideline value for streets in Korattur?

The median guideline value for streets in Korattur is Rs 2,500 per sq.ft, which is higher than the guideline value of Ma.Chandran Nagar.