Guideline Value for MAGIMAIDASS ST

Magimaidass St guideline value

The current guideline value of Magimaidass St in Walajabad village is Rs 750 per sq.ft, effective from 1 July 2024. This street falls under the Walajabad Sub Registrar Office (SRO) and is classified as Residential Class IV Type - I.

How the guideline value of Magimaidass St has changed

The guideline value of Magimaidass St has undergone several revisions over the years. In the 2012 revision, the value was set at Rs 750 per sq.ft. This remained unchanged until the 2017 revision, where the value decreased to Rs 502 per sq.ft. Subsequently, the 2023 revision saw an increase to Rs 750 per sq.ft, which was maintained in the 2024 revision, showing no change from the previous year.

Between the 2017 and 2023 revisions, there was a significant increase of 49%. However, from 2012 to 2017, the value dropped by 33%. Overall, from 2012 to 2024, the guideline value has remained the same at Rs 750 per sq.ft.

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, with a median value of Rs 750 per sq.ft. The guideline value of Magimaidass St aligns with this median.

• Kuuanchetti Street & Naidu Street: Rs 750 per sq.ft (2024)
• Manthaveliyamman Kovil St: Rs 750 per sq.ft (2024)
• Kuppuswamy Nayagar Street: Rs 750 per sq.ft (2024)
• Maratiya Kasayakara Street: Rs 750 per sq.ft (2024)
• Mariyamman Kovil St: Rs 750 per sq.ft (2024)
• Marvel Residency: Rs 1,000 per sq.ft (2024)

Stamp duty and registration fee for property in Magimaidass St

For a 1,000 sq.ft plot at the current guideline value of Rs 750 per sq.ft, the total guideline value amounts to Rs 7,50,000. The stamp duty at 7% would be 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 or the sale price.

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

Which Sub Registrar Office covers Magimaidass St?

Magimaidass St is covered by 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 stamp duty and registration fees applicable to the transaction.

When a property is sold, the guideline value is compared with the sale price, and the duty is charged on the higher of the two. This ensures that the government receives appropriate revenue from property transactions based on the established guideline values.

Frequently asked questions

What is the current guideline value of Magimaidass St?

The current guideline value of Magimaidass St 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 750 per sq.ft in 2012 to Rs 502 per sq.ft in 2017, then back to Rs 750 per sq.ft in 2023 and 2024. Overall, from 2012 to 2024, the value has remained at Rs 750 per sq.ft.

What is the land classification for Magimaidass St?

Magimaidass St is classified as Residential Class IV Type - I under the Walajabad SRO.

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

Other streets in Walajabad with a guideline value of Rs 750 per sq.ft include Kuuanchetti Street & Naidu Street, Manthaveliyamman Kovil St, Kuppuswamy Nayagar Street, Maratiya Kasayakara Street, and Mariyamman Kovil St.

Where can I find the registration office for Magimaidass St?

The registration office covering Magimaidass St is the Walajabad Sub Registrar Office, located at Sriperumbudur Road, Walajabad-631 605, Chengalpattu zone.