Guideline Value for MARAGATHAM NAGAR VALLANCHERI (WARD -1)

Maragatham Nagar Vallancheri (Ward -1) guideline value

The current guideline value of Maragatham Nagar Vallancheri (Ward -1) is Rs 770 per sq.ft, effective from 1 July 2024. This area is located in Potheri village and falls under the Chengleput Joint II SRO, classified as Residential Class I Type - III.

How the guideline value of Maragatham Nagar Vallancheri (Ward -1) has changed

The guideline value has undergone several revisions over the years. In 2012, the value was Rs 700 per sq.ft, which then decreased to Rs 469 per sq.ft in 2017. Following this, the value significantly increased to Rs 700 per sq.ft in 2023, and further rose to Rs 770 per sq.ft in the 2024 revision, marking a 10% increase from the previous year. The register has no figures for the years 2002, 2003, and 2007.

From 2017 to 2023, the guideline value increased by 49%. Overall, when considering the period from 2012 to 2024, there has been a 10% increase in the guideline value. The fluctuations indicate a dynamic adjustment in property values in this locality.

Guideline values in Potheri

Potheri has a total of 129 streets under the Chengleput Joint II SRO, with guideline values ranging from Rs 440 to Rs 2,970 per sq.ft. The median value is Rs 770 per sq.ft, which aligns with the current guideline value of Maragatham Nagar Vallancheri (Ward -1).

• Malar Avenue (Ward -1): Rs 880 per sq.ft (2024)
• Malaipuram Extention (Ward -1): Rs 770 per sq.ft (2024)
• Malai Mettu Street (Ward -1): Rs 770 per sq.ft (2024)
• Malaiadivaaram (Ward -1): Rs 770 per sq.ft (2024)
• Mgr Street (Ward-21): Rs 660 per sq.ft (2024)
• Moogambigai Nagar (Ward-21): Rs 660 per sq.ft (2024)

Stamp duty and registration fee for property in Maragatham Nagar Vallancheri (Ward -1)

For a 1,000 sq.ft plot at the current guideline value of Rs 770 per sq.ft, the total guideline value amounts to Rs 7,70,000. The stamp duty at 7% would be Rs 53,900, and the registration fee at 2% would be Rs 15,400, bringing the total to Rs 69,300. 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 more details.

Which Sub Registrar Office covers Maragatham Nagar Vallancheri (Ward -1)?

The Sub Registrar Office that covers Maragatham Nagar Vallancheri (Ward -1) is the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002, in the Chengalpattu registration zone. To find your SRO, you can visit find your SRO.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Potheri. It serves as a benchmark for determining the stamp duty and registration fees, ensuring that both buyers and sellers are aware of the official valuation of the property.

This value is used to calculate the financial obligations associated with property transactions, thus playing a vital role in the legal transfer of property ownership. Understanding the guideline value helps in making informed decisions during real estate transactions.

Frequently asked questions

What is the current guideline value of Maragatham Nagar Vallancheri (Ward -1)?

The current guideline value of Maragatham Nagar Vallancheri (Ward -1) is Rs 770 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 700 per sq.ft in 2012 to Rs 469 per sq.ft in 2017, then increased to Rs 700 per sq.ft in 2023, and finally to Rs 770 per sq.ft in 2024.

What is the classification of land in Maragatham Nagar Vallancheri?

The land in Maragatham Nagar Vallancheri is classified as Residential Class I Type - III.

What are the stamp duty and registration fees for property in this area?

For a property valued at Rs 7,70,000, the stamp duty would be Rs 53,900, and the registration fee would be Rs 15,400, totaling Rs 69,300.

Where is the Sub Registrar Office for Maragatham Nagar Vallancheri located?

The Sub Registrar Office for Maragatham Nagar Vallancheri is the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002.