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 Thailavaram 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 for Maragatham Nagar Vallancheri has seen several revisions over the years. In 2012, the guideline value was Rs 700 per sq.ft, which decreased to Rs 469 per sq.ft in 2017. This was a decline of 33%. However, from 2017 to 2023, there was a significant increase of 49%, bringing the value up to Rs 700 per sq.ft. The most recent revision in 2024 has raised the guideline value to Rs 770 per sq.ft, marking a 10% increase from the previous year.

It is important to note that the register has no figures for the years 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Thailavaram

In Thailavaram, there are 132 streets under the Chengleput Joint II SRO that carry a 2024 guideline value ranging from Rs 440 to Rs 2,200 per sq.ft. The median value among these streets is Rs 770 per sq.ft, which is equal to the guideline value for Maragatham Nagar Vallancheri.

• Malar Avenue (Ward -1): Rs 881 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 would be Rs 7,70,000. The stamp duty, charged at 7%, would amount to Rs 53,900, while the registration fee at 2% would be Rs 15,400. Together, these fees total Rs 69,300. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

For more details, you can use the stamp duty and registration fee calculator.

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, Chengalpattu registration zone.

You can find your SRO for more information.

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

The guideline value plays a crucial role in property transactions in Thailavaram. It is used to determine the amount of stamp duty and registration fees that need to be paid when a property is bought or sold. The guideline value is set by the government and is updated periodically to reflect changes in the real estate market.

When registering a property, buyers and sellers must refer to the guideline value to ensure compliance with legal requirements. This value serves as a benchmark for calculating the necessary fees, ensuring that all transactions are conducted fairly and transparently.

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 back to Rs 700 per sq.ft in 2023, and finally to Rs 770 per sq.ft in 2024.

What is the land classification of Maragatham Nagar Vallancheri?

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

Where can I find the Chengleput Joint II Sub Registrar Office?

The Chengleput Joint II Sub Registrar Office is located at 10, Kancheepuram Main Road, Chengalpattu 603 002, in the Chengalpattu registration zone.

How is the stamp duty calculated for properties in Maragatham Nagar Vallancheri?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, on a property valued at Rs 7,70,000, the stamp duty would be Rs 53,900 at 7%.