Guideline Value for MAGAZINEPURAM ALL STREETS

Magazinepuram All Streets guideline value

The current guideline value for Magazinepuram All Streets is Rs 1,600 per sq.ft, effective from 1 July 2024. This area is located in Perambur village under the Purasaivakkam SRO, and is classified as Residential Class V Type - I.

How the guideline value of Magazinepuram All Streets has changed

The guideline value for Magazinepuram All Streets has undergone several revisions over the years. In 2007, the value was set at Rs 500 per sq.ft, which increased significantly to Rs 1,500 per sq.ft in 2012, marking a 200% rise. The value remained unchanged at Rs 1,500 per sq.ft until the next revision in 2023.

In 2023, the guideline value was revised to Rs 1,600 per sq.ft, reflecting a 7% increase from the previous year. Overall, from 2007 to 2024, the guideline value has increased by 220%. There are no figures available for the years 2002, 2003, and 2017 for this street.

Guideline values in Perambur

In Perambur, there are a total of 1,114 streets under the Purasaivakkam SRO, with guideline values ranging from Rs 1,600 to Rs 7,100 per sq.ft as of 2024. The median guideline value in this area is Rs 2,700 per sq.ft, placing the 2024 figure for Magazinepuram All Streets below this median.

• Magazinepuram 6th Street: Rs 1,600 per sq.ft (2024)
• Magazinepuram 5th Street: Rs 1,600 per sq.ft (2024)
• Magazinepuram 4th Street: Rs 1,600 per sq.ft (2024)
• Magazinepuram 3rd Street: Rs 1,600 per sq.ft (2024)
• Magazinepuram 2nd Street: Rs 1,600 per sq.ft (2024)
• Magazinepuram 1st Street: Rs 1,600 per sq.ft (2024)

Stamp duty and registration fee for property in Magazinepuram All Streets

For a 1,000 sq.ft plot at the current guideline value of Rs 1,600 per sq.ft, the total guideline value would be Rs 16,00,000. The stamp duty at 7% would amount to Rs 1,12,000, while the registration fee at 2% would be Rs 32,000. Together, the total cost for these charges would be Rs 1,44,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Magazinepuram All Streets?

The Sub Registrar Office that covers Magazinepuram All Streets is the Purasaivakkam Sub Registrar Office, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012. You can find your SRO for more details.

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

The guideline value is a critical factor in the registration process when buying or selling property in Perambur. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction.

When a property is registered, the guideline value is compared to the sale price, and the higher of the two amounts is used to calculate the applicable duties and fees. This ensures that the registration reflects the true value of the property being transferred.

Frequently asked questions

What is the current guideline value of Magazinepuram All Streets?

The current guideline value of Magazinepuram All Streets is Rs 1,600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 500 per sq.ft in 2007 to Rs 1,600 per sq.ft in 2024, representing an overall increase of 220% over the years.

What is the registration office for Magazinepuram All Streets?

The registration office for Magazinepuram All Streets is the Purasaivakkam Sub Registrar Office, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012.

How is stamp duty calculated for properties in Magazinepuram?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 16,00,000, the stamp duty would be Rs 1,12,000 at a rate of 7%.

What are the other streets in Perambur with the same guideline value?

Other streets in Perambur that share the same guideline value of Rs 1,600 per sq.ft include Magazinepuram 1st Street, 2nd Street, 3rd Street, 4th Street, 5th Street, and 6th Street.