Guideline Value for MAHARAJ NAGAR

Maharaj Nagar guideline value

The current guideline value for Maharaj Nagar in Vengaivasal village, under the Selaiyur SRO, is Rs 2,700 per sq.ft, effective from 1 July 2024. The land classification for this area is Mixed Type - II.

How the guideline value of Maharaj Nagar has changed

The guideline value for Maharaj Nagar has seen several revisions over the years. The 2012 revision set the value at Rs 2,500 per sq.ft, which was then reduced to Rs 1,675 per sq.ft in the 2017 revision. Following this, the value increased to Rs 2,500 per sq.ft in 2023, and finally, the current value is Rs 2,700 per sq.ft as of the 2024 revision. Notably, there are no figures available for the revisions in 2002, 2003, and 2007 for this street.

In terms of percentage changes, from 2017 to 2023, there was a significant increase of 49%. The value then rose by 8% from 2023 to 2024. Overall, comparing the 2012 and 2024 revisions, the guideline value has increased by 8%.

Guideline values in Vengaivasal

In Vengaivasal, there are a total of 117 streets under the Selaiyur SRO, with the 2024 guideline values ranging from Rs 850 to Rs 4,800 per sq.ft. The median value is Rs 2,700 per sq.ft, which matches the guideline value for Maharaj Nagar.

• Maharajapuram: Rs 2,700 per sq.ft (2024)
• Mambakkam Main Road: Rs 3,300 per sq.ft (2024)
• Lakshmi Sarathy Nagar: Rs 3,700 per sq.ft (2024)
• Kumaran Nagar: Rs 3,300 per sq.ft (2024)
• Megala Nagar: Rs 1,900 per sq.ft (2024)
• Kulakarai street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Maharaj Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 2,700 per sq.ft, the total guideline value amounts to Rs 27,00,000. The stamp duty at 7% would be Rs 1,89,000, and the registration fee at 2% would be Rs 54,000, resulting in a total of Rs 2,43,000. It is important to note that the 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 further calculations.

Which Sub Registrar Office covers Maharaj Nagar?

The Sub Registrar Office that covers Maharaj Nagar is the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opposite to Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role during the registration of property transactions in Vengaivasal. It is used to determine the stamp duty and registration fees that need to be paid when buying or selling property in the area.

When a property is registered, the guideline value is assessed to calculate the applicable fees. Buyers should be aware that these fees are based on the guideline value or the sale price, whichever is higher, ensuring that the transaction is fairly taxed according to the established rates.

Frequently asked questions

What is the current guideline value for Maharaj Nagar?

The current guideline value for Maharaj Nagar is Rs 2,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,500 per sq.ft in 2012, to Rs 1,675 per sq.ft in 2017, then to Rs 2,500 per sq.ft in 2023, and finally to Rs 2,700 per sq.ft in 2024.

What is the land classification for Maharaj Nagar?

The land classification for Maharaj Nagar is Mixed Type - II.

Where can I find the Selaiyur Sub Registrar Office?

The Selaiyur Sub Registrar Office is located at No.36, Bharathmatha Salai, Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073.

How is the stamp duty calculated for properties in Maharaj Nagar?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, a property valued at Rs 27,00,000 would incur a stamp duty of Rs 1,89,000 at a rate of 7%.