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 Vallancheri 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

Over the years, the guideline value for Maragatham Nagar Vallancheri has seen several revisions. The 2012 revision set the value at Rs 700 per sq.ft, which then decreased to Rs 469 per sq.ft in 2017. Following this, the value increased significantly to Rs 700 per sq.ft in the 2023 revision, and then 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 for this street.

From 2012 to 2024, the overall change in guideline value is an increase of 10%. The most notable increase occurred between 2017 and 2023, where the value rose by 49%. The fluctuations in these revisions reflect the changes in the real estate landscape in the area.

Guideline values in Vallancheri

In Vallancheri, there are 134 streets under the Chengleput Joint II SRO, with guideline values ranging from Rs 440 to Rs 2,200 per sq.ft. The median guideline value in this village is Rs 825 per sq.ft, placing Maragatham Nagar Vallancheri's 2024 figure below this median.

• 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, charged at 7%, would be Rs 53,900, and the registration fee, at 2%, would be Rs 15,400. Together, the total cost for stamp duty and registration fee would be Rs 69,300. It is important to note that duty is charged on the higher of the guideline value or the sale price. For further calculations, 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 Vallancheri

The guideline value plays a crucial role during the registration of property transactions in Vallancheri. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is compliant with government regulations.

When buying or selling property, the guideline value helps in calculating the applicable stamp duty and registration fees. These fees are based on the higher of the guideline value or the sale price, ensuring that both the buyer and seller are aware of the financial obligations involved in the transaction.

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 median guideline value in Vallancheri?

The median guideline value in Vallancheri is Rs 825 per sq.ft, which is above the current value of Maragatham Nagar Vallancheri.

What is the stamp duty rate for properties in this area?

The stamp duty rate for properties in Maragatham Nagar Vallancheri is 7% of the guideline value or the sale price, whichever is higher.

Where can I find the Sub Registrar Office for Maragatham Nagar Vallancheri?

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.