Guideline Value for MAGENDIRA NAGAR

Magendira Nagar guideline value

The current guideline value of Magendira Nagar is Rs 401 per sq.ft, effective from 1 July 2024. This area is located in Malliyankaranai village under the Uthiramerur SRO, classified as Residential Special Type - II.

How the guideline value of Magendira Nagar has changed

Over the years, the guideline value for Magendira Nagar has seen several revisions. The 2012 revision set the value at Rs 400 per sq.ft, which was a decrease of 33% from the 2017 revision of Rs 268 per sq.ft. The value remained unchanged at Rs 400 per sq.ft in 2023, and in the 2024 revision, it rose slightly to Rs 401 per sq.ft, reflecting a change of 0% from the previous year.

From 2017 to 2023, the guideline value increased by 49%. Overall, comparing the 2012 value to the current 2024 value, there has been no change, as both stand at Rs 400 and Rs 401 per sq.ft respectively. It is important to note that the register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Malliyankaranai

Malliyankaranai village has 42 streets under the Uthiramerur SRO with a 2024 guideline value ranging from Rs 200 to Rs 603 per sq.ft. The median value is Rs 401 per sq.ft, aligning with the guideline value of Magendira Nagar.

• Mahendra Avenu: Rs 250 per sq.ft (2024)
• Malliyankaranai: Rs 200 per sq.ft (2024)
• Malliyankaranai Madura Manikanatham: Rs 250 per sq.ft (2024)
• Krishna Nagar: Rs 250 per sq.ft (2024)
• Kg Rakesh Nagar: Rs 402 per sq.ft (2024)
• Nallur Kezhandi Sreet: Rs 300 per sq.ft (2024)

Stamp duty and registration fee for property in Magendira Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 401 per sq.ft, the total guideline value amounts to Rs 4,01,000. The stamp duty at 7% would be Rs 28,070, and the registration fee at 2% would be Rs 8,020, totaling Rs 36,090. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Magendira Nagar?

The Sub Registrar Office covering Magendira Nagar is the Uthiramerur Sub Registrar Office, located at No.16, Sundara Vardharaja Perumal Koil Sannathi Street, Uthiramerur- 603406, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in property transactions in Malliyankaranai. It is used to determine the stamp duty and registration fees that are applicable when buying or selling property in the area.

When registering a property, the guideline value ensures that the transaction is recorded at a fair value, which helps in maintaining transparency in property dealings. This value is essential for both buyers and sellers to understand the financial obligations involved in the registration process.

Frequently asked questions

What is the current guideline value of Magendira Nagar?

The current guideline value of Magendira Nagar is Rs 401 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen various changes, with the most recent revision in 2024 showing a slight increase from Rs 400 per sq.ft in 2023. From 2017 to 2023, it increased by 49%, while it decreased by 33% from 2012 to 2017.

What is the land classification of Magendira Nagar?

Magendira Nagar is classified as Residential Special Type - II, indicating its designation for residential purposes within the area.

What are the stamp duty and registration fees for property transactions?

The stamp duty is charged at 7% of the guideline value, while the registration fee is 2%. For example, for a property valued at Rs 4,01,000, the total fees would amount to Rs 36,090.

Which office handles the registration for Magendira Nagar?

The Uthiramerur Sub Registrar Office is responsible for handling registrations for Magendira Nagar, located at No.16, Sundara Vardharaja Perumal Koil Sannathi Street, Uthiramerur- 603406.