Guideline Value for MARKAZHI NAGAR

Markazhi Nagar guideline value

The current guideline value of Markazhi Nagar is Rs 268 per sq.ft, effective from 1 July 2024. This area is located in Acharapakkam village under the Acchirapakkam SRO, classified as Mixed Type - II.

How the guideline value of Markazhi Nagar has changed

In the 2024 revision, the guideline value for Markazhi Nagar is Rs 268 per sq.ft, which is the same as the 2023 revision. There are no figures available for the revisions in 2017, 2012, 2007, 2003, and 2002 for this street.

From 2023 to 2024, there has been no change in the guideline value, remaining at Rs 268 per sq.ft. This consistency indicates stability in the valuation for this street over the recent revisions.

Guideline values in Acharapakkam

Acharapakkam has 61 streets under the Acchirapakkam SRO carrying a 2024 guideline value, ranging from Rs 250 to Rs 600 per sq.ft, with a median value of Rs 400 per sq.ft. The guideline value for Markazhi Nagar is below this median.

• Malai Nagar: Rs 400 per sq.ft (2024)
• M G R Nagar Ward 8: Rs 350 per sq.ft (2024)
• M.K. Nagar: Rs 400 per sq.ft (2024)
• Mada Koil Street Ward 9: Rs 250 per sq.ft (2024)
• Loop Road (Bazaar Street): Rs 400 per sq.ft (2024)
• Loop Road: Rs 400 per sq.ft (2024)

Stamp duty and registration fee for property in Markazhi Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 268 per sq.ft, the total guideline value amounts to Rs 2,68,000. The stamp duty at 7% would be Rs 18,760, and the registration fee at 2% would be Rs 5,360, totaling Rs 24,120. Duty is charged on the guideline value or the sale price, whichever is higher. You can calculate your fees using the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Markazhi Nagar?

The Sub Registrar Office that covers Markazhi Nagar is the Acchirapakkam Sub Registrar Office, located at No.70, Bazzar Street, Acchirapakkam-603301, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in property transactions in Acharapakkam. It is used to calculate the stamp duty and registration fees that buyers must pay when purchasing property. This ensures that the fees are based on a standardized valuation rather than individual sale prices.

When selling property, the guideline value helps establish a baseline for the transaction. It is important for both buyers and sellers to understand this value to ensure compliance with local regulations and to accurately assess the costs associated with property transfer.

Frequently asked questions

What is the current guideline value of Markazhi Nagar?

The current guideline value of Markazhi Nagar is Rs 268 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

There has been no change in the guideline value for Markazhi Nagar from 2023 to 2024, remaining at Rs 268 per sq.ft. The register has no figures for the revisions in 2017, 2012, 2007, 2003, and 2002 for this street.

What is the median guideline value in Acharapakkam?

The median guideline value in Acharapakkam is Rs 400 per sq.ft. Markazhi Nagar's guideline value is below this median, at Rs 268 per sq.ft.

What fees are associated with buying property in Markazhi Nagar?

When buying property in Markazhi Nagar, buyers must pay stamp duty at 7% and a registration fee at 2% of the guideline value or sale price, whichever is higher. For example, on a plot of 1,000 sq.ft, the total fees would amount to Rs 24,120.

Where can I find the Sub Registrar Office for Markazhi Nagar?

The Sub Registrar Office for Markazhi Nagar is located at No.70, Bazzar Street, Acchirapakkam-603301, Chengalpattu registration zone. This office handles the registration of property transactions in the area.