Guideline Value for MAKIZCHI NAGAR II

Makizchi Nagar II guideline value

The current guideline value of Makizchi Nagar II is Rs 575 per sq.ft, effective from 1 July 2024. This area is located in Mangalam village and falls under the Thirukazhukundram SRO. The land classification for this street is Residential Special Type - II.

How the guideline value of Makizchi Nagar II has changed

The guideline value register has no figures for the years 2002, 2003, 2007, 2012, and 2017 for Makizchi Nagar II. The 2023 revision also recorded the guideline value at Rs 575 per sq.ft. The most recent revision in 2024 maintained this figure, indicating a change of +0% from 2023 to 2024.

In summary, the guideline value has remained consistent at Rs 575 per sq.ft from the 2023 revision to the 2024 revision. This reflects the stability of the guideline value for Makizchi Nagar II over the past two years.

Guideline values in Mangalam

In Mangalam village, there are 15 streets under the Thirukazhukundram SRO that carry a 2024 guideline value, ranging from Rs 350 to Rs 1,300 per sq.ft. The median value for these streets is Rs 575 per sq.ft, placing Makizchi Nagar II at the median value for the year 2024.

• Makizchi Nagar: Rs 575 per sq.ft (2024)
• Metro Mount City - II: Rs 350 per sq.ft (2024)
• Ram Avenue: Rs 402 per sq.ft (2024)
• Singhvi Emerald: Rs 1,000 per sq.ft (2024)
• Sri Ragavendra Avenue: Rs 402 per sq.ft (2024)
• Sri Sai Ganesh Nagar: Rs 600 per sq.ft (2024)

Stamp duty and registration fee for property in Makizchi Nagar II

For a 1,000 sq.ft plot at the current guideline value of Rs 575 per sq.ft, the total guideline value amounts to Rs 5,75,000. The stamp duty at 7% would be Rs 40,250, and the registration fee at 2% would be Rs 11,500, making the total cost for these fees Rs 51,750. 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 precise calculations based on your property details.

Which Sub Registrar Office covers Makizchi Nagar II?

The Sub Registrar Office that covers Makizchi Nagar II is the Thirukazhukundram Sub Registrar Office, located at Thiruchengode - 637 211, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor during the registration process of property transactions in Mangalam. It serves as a benchmark for determining the stamp duty and registration fees payable when buying or selling property.

When a property is registered, the guideline value is compared with the sale price, and the higher amount is used to calculate the applicable duties and fees. This ensures that the government receives the appropriate revenue based on the property's value.

Frequently asked questions

What is the current guideline value of Makizchi Nagar II?

The current guideline value of Makizchi Nagar II is Rs 575 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value for Makizchi Nagar II has remained at Rs 575 per sq.ft since the 2023 revision and has not changed from previous revisions in 2024.

What are the stamp duty rates for property in Makizchi Nagar II?

The stamp duty rate for property in Makizchi Nagar II is 7% of the guideline value or sale price, whichever is higher.

Where can I find the Sub Registrar Office for Makizchi Nagar II?

The Sub Registrar Office for Makizchi Nagar II is the Thirukazhukundram Sub Registrar Office, located at Thiruchengode - 637 211, Chengalpattu registration zone.

How is the guideline value used in property transactions?

The guideline value is used to determine the stamp duty and registration fees during property transactions. It is compared with the sale price, and the higher amount is used to calculate the applicable fees.