Guideline Value for Maga Kavi Bharathi nagar

Maga Kavi Bharathi nagar guideline value

The current guideline value of Maga Kavi Bharathi nagar is Rs 2,200 per sq.ft, effective from 1 July 2024. This area is located in Ambattur village, under the Ambattur SRO, and is classified as Residential Class IV Type - I.

How the guideline value of Maga Kavi Bharathi nagar has changed

The guideline value for Maga Kavi Bharathi nagar has undergone several revisions over the years. The 2012 revision set the value at Rs 2,000 per sq.ft, which was then reduced to Rs 1,340 per sq.ft in the 2017 revision. Following this, the 2023 revision increased the value to Rs 2,000 per sq.ft, and the most recent 2024 revision raised it further to Rs 2,200 per sq.ft. Notably, there are no figures available for the years 2002, 2003, and 2007 in the register for this street.

From 2017 to 2023, the guideline value increased by 49%. The transition from 2023 to 2024 saw a 10% increase. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Ambattur

In Ambattur, there are 448 streets under the Ambattur SRO that have a 2024 guideline value ranging from Rs 1,400 to Rs 8,209 per sq.ft, with a median value of Rs 3,600 per sq.ft. The guideline value for Maga Kavi Bharathi nagar is below this median.

• Mahaveer Garden: Rs 5,100 per sq.ft (2024)
• Loyer Salai Road (Ramapuram): Rs 3,600 per sq.ft (2024)
• Loganathan Street: Rs 4,600 per sq.ft (2024)
• L.I.C Colony: Rs 4,000 per sq.ft (2024)
• Lal bagadur Street: Rs 3,600 per sq.ft (2024)
• Mangalapuram bajanai Koil Street: Rs 2,500 per sq.ft (2024)

Stamp duty and registration fee for property in Maga Kavi Bharathi nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value would be Rs 22,00,000. The stamp duty at 7% would amount to Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, bringing the total cost for these fees to Rs 1,98,000. It is important to note that the 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 Maga Kavi Bharathi nagar?

The Sub Registrar Office covering Maga Kavi Bharathi nagar is the Ambattur Sub Registrar Office, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a critical factor in the registration process for property transactions in Ambattur. It serves as a benchmark for determining the stamp duty and registration fees applicable during the sale or purchase of property in the region.

When a property is registered, the guideline value is used to calculate the applicable fees, ensuring that both buyers and sellers are aware of the financial implications of their transactions. This helps maintain transparency in property dealings within the Ambattur area.

Frequently asked questions

What is the current guideline value of Maga Kavi Bharathi nagar?

The current guideline value of Maga Kavi Bharathi 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 changed from Rs 2,000 per sq.ft in 2012 to Rs 1,340 per sq.ft in 2017, then to Rs 2,000 per sq.ft in 2023, and finally to Rs 2,200 per sq.ft in 2024.

What is the land classification for Maga Kavi Bharathi nagar?

Maga Kavi Bharathi nagar is classified as Residential Class IV Type - I.

Where can I find the Sub Registrar Office for this area?

The Sub Registrar Office for Maga Kavi Bharathi nagar is located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone.

How are stamp duty and registration fees calculated?

Stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at Rs 2,200 per sq.ft would incur a total guideline value of Rs 22,00,000, resulting in specific fees for registration.