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 Panangottur village 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 this area has undergone several revisions over the years. In 2012, the value was Rs 600 per sq.ft, which decreased to Rs 402 per sq.ft in 2017. Following this, the value increased significantly to Rs 600 per sq.ft in 2023, and then to Rs 660 per sq.ft in 2024, marking a 10% increase from the previous year. The register has no figures for the years 2002, 2003, and 2007 for this street.

Overall, from 2012 to 2024, the guideline value has seen a 10% increase. The jump from 2017 to 2023 was a notable 49%, while the drop from 2012 to 2017 was 33%.

Guideline values in Panangottur

In Panangottur, there are 419 streets under the Chengleput Joint II SRO, with a 2024 guideline value ranging from Rs 440 to Rs 2,200 per sq.ft. The median value for these streets is Rs 990 per sq.ft, placing the guideline value for Maha Ngar Phase -1,2,3 (Pa) below this median.

• Main Street (Ward -8): Rs 1,320 per sq.ft (2024)
• Madha Koil Street (Ward -18): Rs 660 per sq.ft (2024)
• Malar Avenue (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)
• Manickavasagar Street (Ward -6): Rs 1,320 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 amounts to Rs 6,60,000. The stamp duty at 7% would be Rs 46,200, and the registration fee at 2% would be Rs 13,200, bringing the total cost to Rs 59,400. It is important to note that duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more details.

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 information.

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

When buying or selling property in Panangottur, the guideline value plays a crucial role in determining the stamp duty and registration fees. The guideline value is used as a benchmark for calculating these costs, ensuring that both buyers and sellers are aware of the financial implications of their transactions.

It is essential to understand that the guideline value may differ from the actual sale price. The registration office will charge fees based on the higher of the two values, which protects the interests of the government and ensures proper documentation of property transactions.

Frequently asked questions

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

The current guideline value of 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 changed from Rs 600 per sq.ft in 2012 to Rs 402 per sq.ft in 2017, then to Rs 600 per sq.ft in 2023, and finally to Rs 660 per sq.ft in 2024.

What is the stamp duty for property in Maha Ngar Phase -1,2,3 (Pa)?

The stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For a property valued at Rs 6,60,000, the stamp duty would be Rs 46,200.

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

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

What is the median guideline value for streets in Panangottur?

The median guideline value for streets in Panangottur is Rs 990 per sq.ft, with the current value for Maha Ngar Phase -1,2,3 (Pa) being below this median.