Guideline Value for MAHA NGAR PHASE -1,2,3 (PA)

Maha Ngar Phase -1,2,3 (Pa) guideline value

The current guideline value for Maha Ngar Phase -1,2,3 (Pa) is Rs 660 per sq.ft, effective from 1 July 2024. This area is located in Ninna Karai village and falls under the Chengleput Joint II SRO, classified as Residential Class I Type - III.

How the guideline value of Maha Ngar Phase -1,2,3 (Pa) has changed

The guideline value for Maha Ngar Phase -1,2,3 (Pa) has undergone several revisions over the years. The most recent revision in 2024 set the value at Rs 660 per sq.ft, an increase from Rs 600 per sq.ft in 2023, marking a change of +10%. Prior to that, the 2017 revision recorded a guideline value of Rs 402 per sq.ft, which means there was a significant increase of +49% to reach the 2023 figure. The 2012 revision also had a value of Rs 600 per sq.ft, indicating a decrease of -33% when compared to the 2017 figure. Overall, from 2012 to 2024, the guideline value has increased by +10%.

The register has no figures for the years 2002, 2003, and 2007 for this street. Therefore, the last recorded figures before 2012 were not available. The 2012 revision marked a reset in the guideline value, which has since seen fluctuations leading up to the current figure in 2024.

Guideline values in Ninna Karai

In Ninna Karai, there are 449 streets under the Chengleput Joint II SRO, with the 2024 guideline values ranging from Rs 440 to Rs 3,500 per sq.ft. The median value for these streets is Rs 1,100 per sq.ft, placing the guideline value for Maha Ngar Phase -1,2,3 (Pa) below this median.

• Mahalakshmi Enclave: Rs 990 per sq.ft (2024)
• Main Street (Ward -8): Rs 1,321 per sq.ft (2024)
• Madha Koil Street (Ward -18): Rs 660 per sq.ft (2024)
• Malar Aveunue (N): Rs 660 per sq.ft (2024)
• Mamarathu Gate Union Road (Per): Rs 990 per sq.ft (2024)
• Mangayarkarasi Street (Ward -6): Rs 1,760 per sq.ft (2024)

Stamp duty and registration fee for property in Maha Ngar Phase -1,2,3 (Pa)

For a 1,000 sq.ft plot at the current guideline value of Rs 660 per sq.ft, the total guideline value would be Rs 6,60,000. The stamp duty at 7% would amount to Rs 46,200, while the registration fee at 2% would be Rs 13,200, together totaling Rs 59,400. 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 Maha Ngar Phase -1,2,3 (Pa)?

The Maha Ngar Phase -1,2,3 (Pa) area is covered by the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002, Chengalpattu registration zone.

You can find your SRO for more details.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Ninna Karai. It serves as a benchmark for determining the stamp duty and registration fees, ensuring that these costs are calculated based on a standardized value set by the government.

When a property is sold, the guideline value is used to assess the minimum price at which the property can be registered. This helps in maintaining transparency and fairness in property transactions within the region.

Frequently asked questions

What is the current guideline value for Maha Ngar Phase -1,2,3 (Pa)?

The current guideline value for Maha Ngar Phase -1,2,3 (Pa) is Rs 660 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen several revisions, with the most recent increase of +10% from Rs 600 per sq.ft in 2023 to Rs 660 per sq.ft in 2024. Overall, from 2012 to 2024, the value has increased by +10%.

What are the stamp duty and registration fees for properties in this area?

For a 1,000 sq.ft plot at the current guideline value, the total stamp duty would be Rs 46,200 and the registration fee would be Rs 13,200, totaling Rs 59,400.

Which office handles property registrations for Maha Ngar Phase -1,2,3 (Pa)?

The Chengleput Joint II Sub Registrar Office handles property registrations for Maha Ngar Phase -1,2,3 (Pa), located at 10, Kancheepuram Main Road, Chengalpattu 603 002.

What is the significance of the guideline value in property transactions?

The guideline value is essential for calculating the stamp duty and registration fees during property transactions. It ensures that the property is registered at a standardized value, promoting transparency in the buying and selling process.