Guideline Value for MAJITH NAGAR

Majith Nagar guideline value

The current guideline value of Majith Nagar is Rs 800 per sq.ft, as per the 2023 revision. This area falls under Kelambakkam village and is classified as Residential Class III Type - I, with the Thiruporur SRO overseeing its registration.

How the guideline value of Majith Nagar has changed

The guideline value for Majith Nagar has undergone several revisions over the years. In the 2007 revision, the value was set at Rs 250 per sq.ft. This increased significantly to Rs 800 per sq.ft in the 2012 revision, marking a notable rise of 220%. However, in the 2017 revision, the value decreased to Rs 536 per sq.ft, reflecting a drop of 33%. The most recent revision in 2023 saw the guideline value return to Rs 800 per sq.ft, representing an increase of 49% from the previous figure.

Overall, from the 2007 revision to the 2023 revision, the guideline value has increased by 220%. The register does not have figures for the years 2002, 2003, and 2024 for this street.

Guideline values in Kelambakkam

Currently, no specific figures for other streets in Kelambakkam have been provided. Majith Nagar's guideline value is Rs 800 per sq.ft, established in the 2023 revision.

Stamp duty and registration fee for property in Majith Nagar

For a 1,000 sq.ft plot at the current rate, the guideline value amounts to Rs 8,00,000. The stamp duty at 7% would be Rs 56,000, and the registration fee at 2% would be Rs 16,000, totaling Rs 72,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Majith Nagar?

The Thiruporur Sub Registrar Office covers Majith Nagar, located at No.29, South Mada Street, Thiruporur-603110, Chengalpattu registration zone. To find your specific SRO, you can visit find your SRO.

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

The guideline value is a crucial factor when buying or selling property in Kelambakkam, as it helps determine the stamp duty and registration fees applicable to the transaction. Buyers should be aware that the duty is charged based on the higher of the guideline value or the sale price of the property.

During the registration process, the guideline value ensures that the property is assessed fairly, allowing for transparency in transactions. It is essential for both buyers and sellers to understand these values to avoid any discrepancies during registration.

Frequently asked questions

What is the current guideline value of Majith Nagar?

The current guideline value of Majith Nagar is Rs 800 per sq.ft, as per the 2023 revision.

How has the guideline value changed over the years?

The guideline value has changed from Rs 250 per sq.ft in 2007 to Rs 800 per sq.ft in 2012, then decreased to Rs 536 per sq.ft in 2017, and returned to Rs 800 per sq.ft in 2023.

What is the land classification for Majith Nagar?

Majith Nagar is classified as Residential Class III Type - I, which indicates its designated use for residential purposes.

Where is the Thiruporur Sub Registrar Office located?

The Thiruporur Sub Registrar Office is located at No.29, South Mada Street, Thiruporur-603110, Chengalpattu registration zone.

How is stamp duty calculated for property in Majith Nagar?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at the current rate, the total stamp duty would be Rs 56,000.