Guideline Value for MAHA SHAKTHI NAGAR

Maha Shakthi Nagar guideline value

The current guideline value of Maha Shakthi Nagar, located in Chembakkam village under the Selaiyur SRO, is Rs 2,400 per sq.ft, effective from 1 July 2024. The land classification for this area is Residential Special Type - I.

How the guideline value of Maha Shakthi Nagar has changed

The guideline value for Maha Shakthi Nagar has seen several revisions over the years. The 2012 revision set the value at Rs 2,200 per sq.ft, which was then reduced to Rs 1,474 per sq.ft in the 2017 revision. Following this, the value increased significantly to Rs 2,200 per sq.ft in the 2023 revision, and currently stands at Rs 2,400 per sq.ft from the 2024 revision.

From 2017 to 2023, the guideline value increased by 49%, and from 2023 to 2024, it rose by 9%. Overall, from 2012 to 2024, the guideline value has increased by 9%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Chembakkam

In Chembakkam, there are 472 streets under the Selaiyur SRO, with the 2024 guideline values ranging from Rs 850 to Rs 6,700 per sq.ft. The median guideline value for these streets is Rs 2,200 per sq.ft, placing Maha Shakthi Nagar's 2024 figure above that median.

• Maha Sakthi Colony (Vivekanandar Steet): Rs 2,400 per sq.ft (2024)
• Maha Sakthi Colony (Thiruvalluvar Street): Rs 2,400 per sq.ft (2024)
• Maha Sakthi Colony Main Road Extn: Rs 2,400 per sq.ft (2024)
• Maha Sakthi Colony (Kakkan Street): Rs 2,400 per sq.ft (2024)
• Maha Sakthi Colony (Gandhi Street): Rs 2,400 per sq.ft (2024)
• MahaSakthi Colony-Eswaran Koil Street: Rs 2,400 per sq.ft (2024)

Stamp duty and registration fee for property in Maha Shakthi Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 2,400 per sq.ft, the total guideline value amounts to Rs 24,00,000. The stamp duty at 7% would be Rs 1,68,000, and the registration fee at 2% would be Rs 48,000, bringing the total to Rs 2,16,000. 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 Maha Shakthi Nagar?

The Sub Registrar Office that covers Maha Shakthi Nagar is the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, in the Chengalpattu registration zone. You can find your SRO for further assistance.

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

The guideline value is a crucial factor during the registration of property transactions in Chembakkam. It serves as the basis for calculating stamp duty and registration fees, ensuring that the government receives the appropriate revenue from property sales.

When buying or selling property, the guideline value is compared to the sale price. The higher of the two values is used to determine the applicable stamp duty and registration fees, ensuring that all transactions are fairly assessed according to the established rates.

Frequently asked questions

What is the current guideline value of Maha Shakthi Nagar?

The current guideline value of Maha Shakthi Nagar is Rs 2,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,200 per sq.ft in 2012 to Rs 1,474 per sq.ft in 2017, then to Rs 2,200 per sq.ft in 2023, and currently stands at Rs 2,400 per sq.ft in 2024.

What is the land classification for Maha Shakthi Nagar?

The land classification for Maha Shakthi Nagar is Residential Special Type - I.

What are the stamp duty and registration fees for properties here?

The stamp duty is charged at 7% and the registration fee at 2% of the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot would incur a total of Rs 2,16,000 in fees based on the current guideline value.

Which office handles registrations for Maha Shakthi Nagar?

The Selaiyur Sub Registrar Office handles registrations for Maha Shakthi Nagar, located at No.36, Bharathmatha Salai, Ruby Mansion, East Tambaram, Chennai - 600 073.