Guideline Value for MAHARAJAPURAM

Maharajapuram guideline value

The current guideline value of Maharajapuram, located in Vengaivasal village under the Selaiyur SRO, is Rs 2,700 per sq.ft, effective from 1 July 2024. This area is classified as Mixed Type - II.

How the guideline value of Maharajapuram has changed

Over the years, the guideline value for Maharajapuram has seen several revisions. The 2012 revision set the value at Rs 2,500 per sq.ft, which was later revised to Rs 1,675 per sq.ft in 2017, marking a decrease of 33%. However, from 2017 to 2023, the value increased significantly to Rs 2,500 per sq.ft, reflecting a rise of 49%. The most recent revision in 2024 brought the guideline value to Rs 2,700 per sq.ft, an increase of 8% from the previous year.

It is important to note that there are no figures available for the years 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has increased by 8%.

Guideline values in Vengaivasal

In Vengaivasal, there are 117 streets under the Selaiyur SRO that carry a 2024 guideline value ranging from Rs 850 to Rs 4,800 per sq.ft, with the median value being Rs 2,700 per sq.ft. The guideline value for Maharajapuram is equal to this median.

• Maharaj Nagar: 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 Maharajapuram

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, bringing the total to Rs 2,43,000. It is essential to note that the duty is charged on the higher of the guideline value or the sale price.

For more information on calculating fees, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Maharajapuram?

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

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

The guideline value plays a crucial role in the registration process of property transactions in Vengaivasal. When buying or selling property, the guideline value is used to determine the applicable stamp duty and registration fees, ensuring that the transaction is recorded accurately in the official register.

It is important for buyers and sellers to be aware of the current guideline value, as it directly impacts the costs associated with property registration. This ensures compliance with legal requirements and helps in the smooth transfer of property ownership.

Frequently asked questions

What is the current guideline value of Maharajapuram?

The current guideline value of Maharajapuram 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 increased to Rs 2,500 per sq.ft in 2023, and finally to Rs 2,700 per sq.ft in 2024.

What are the registration fees for property in Maharajapuram?

For a property valued at Rs 27,00,000, the stamp duty would be Rs 1,89,000 and the registration fee would be Rs 54,000, totaling Rs 2,43,000.

Which office handles property registrations in Maharajapuram?

The Selaiyur Sub Registrar Office handles property registrations in Maharajapuram, located at No.36, Bharathmatha Salai, East Tambaram, Chennai - 600 073.

What is the land classification for Maharajapuram?

Maharajapuram is classified as Mixed Type - II, indicating the type of land use permitted in the area.