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 661 per sq.ft, effective from 1 July 2024. This area is located in Peramanoor village under the Chengleput Joint II SRO, and it is 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 seen several revisions over the years. The 2012 revision set the value at Rs 600 per sq.ft, which remained unchanged until the 2017 revision, where it dropped to Rs 402 per sq.ft, marking a decrease of 33%. In 2023, the value rose to Rs 600 per sq.ft, and the most recent revision in 2024 increased it further to Rs 661 per sq.ft, reflecting a 10% increase.

From 2017 to 2023, the guideline value increased significantly by 49%. Overall, from 2012 to 2024, there has been a 10% increase in the guideline value. It is important to note that the register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Peramanoor

In Peramanoor, there are 430 streets under the Chengleput Joint II SRO, with guideline values ranging from Rs 550 to Rs 2,200 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.

• Main Street (Ward -8): Rs 1,320 per sq.ft (2024)
• Madha Koil Street (Ward -18): Rs 661 per sq.ft (2024)
• Malar Aveunue (N): Rs 661 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 661 per sq.ft, the total guideline value would be Rs 6,61,000. The stamp duty at 7% would amount to Rs 46,270, while the registration fee at 2% would be Rs 13,220, bringing the total to Rs 59,490. It is important to note that the duty is charged on the higher of the guideline value or 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 Peramanoor

The guideline value is a crucial factor when buying or selling property in Peramanoor, as it determines the stamp duty and registration fees applicable during the transaction. Buyers and sellers must refer to the latest guideline value to ensure compliance with local regulations.

When registering a property, the guideline value serves as a benchmark for assessing the value of the property, ensuring that the transaction is recorded accurately in the official records. This helps maintain transparency in property dealings 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 661 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 increased to Rs 600 per sq.ft in 2023, and finally to Rs 661 per sq.ft in 2024.

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

For a property valued at Rs 6,61,000, the stamp duty would be Rs 46,270 and the registration fee would be Rs 13,220, totaling Rs 59,490. This is based on the current guideline value of Rs 661 per sq.ft.

Which office handles property registrations in 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 used to determine the stamp duty and registration fees during property transactions. It serves as a benchmark for assessing property value and ensures that transactions are recorded accurately in official records.