Guideline Value for Maaran nagar

Maaran nagar guideline value

The current guideline value of Maaran nagar, located in Poonthamallee village under the Poonamallee SRO, is Rs 2,200 per sq.ft as per the 2024 revision effective from 1 July 2024. This area is classified as Residential Class II Type - I.

How the guideline value of Maaran nagar has changed

Over the years, the guideline value of Maaran nagar has seen significant changes. The 2007 revision recorded a value of Rs 400 per sq.ft, which increased to Rs 2,000 per sq.ft in 2012, marking a substantial rise of 400%. However, from 2012 to 2017, the value decreased to Rs 1,340 per sq.ft, representing a decline of 33%. The 2017 revision then saw a dramatic increase to Rs 2,000 per sq.ft in 2023, reflecting a rise of 49%. The latest revision in 2024 set the guideline value at Rs 2,200 per sq.ft, which is a 10% increase from the previous year.

The register has no figures for the years 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 450%.

Guideline values in Poonthamallee

In Poonthamallee village, there are 257 streets under the Poonamallee SRO that carry a 2024 guideline value ranging from Rs 1,980 to Rs 4,950 per sq.ft. The median value for these streets is Rs 2,200 per sq.ft, which is equal to the current guideline value of Maaran nagar.

• Magamadan quarters: Rs 2,200 per sq.ft (2024)
• Mahalakshmi nagar: Rs 2,200 per sq.ft (2024)
• Lakshmipuram: Rs 3,250 per sq.ft (2024)
• Lakshmi nagar 567,566,643,967: Rs 1,980 per sq.ft (2024)
• Lakshmi nagar 447: Rs 1,980 per sq.ft (2024)
• Malliam Narasima nagar: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Maaran nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value amounts to Rs 22,00,000. The stamp duty at 7% would be Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, bringing the total to Rs 1,98,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Maaran nagar?

The Sub Registrar Office that covers Maaran nagar is the Poonamallee Sub Registrar Office, located at No.332 U + 9cc Malma Nagar Poonamallee Chennai - 600056. You can find your SRO for more information.

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

The guideline value is a crucial factor during property transactions in Poonthamallee. It is used to determine the stamp duty and registration fees that buyers must pay when registering a property. The guideline value ensures that the transaction is recorded at a fair value, reflecting the current market conditions.

When buying or selling property, the guideline value serves as a benchmark for both parties. It is essential for buyers to be aware of the guideline value to understand the associated costs and for sellers to price their properties accordingly.

Frequently asked questions

What is the current guideline value of Maaran nagar?

The current guideline value of Maaran nagar is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 400 per sq.ft in 2007 to Rs 2,200 per sq.ft in 2024, reflecting an overall increase of 450% over the years.

What is the land classification of Maaran nagar?

Maaran nagar is classified as Residential Class II Type - I.

Where is the Sub Registrar Office for Maaran nagar located?

The Poonamallee Sub Registrar Office is located at No.332 U + 9cc Malma Nagar Poonamallee Chennai - 600056.

How is the stamp duty calculated for properties in Maaran nagar?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at the current rate, the stamp duty would be Rs 1,54,000.