Guideline Value for Magathma ganthi Nagar

Magathma ganthi Nagar guideline value

The current guideline value of Magathma ganthi Nagar is Rs 1,300 per sq.ft, effective from 1 July 2024. This area is located in Puthagaram village under the Ambattur SRO, classified as Residential Class IV Type - I.

How the guideline value of Magathma ganthi Nagar has changed

The guideline value for Magathma ganthi Nagar has undergone several revisions over the years. In 2012, the value was set at Rs 1,200 per sq.ft, which then decreased to Rs 804 per sq.ft in 2017. Following this, the value increased significantly to Rs 1,200 per sq.ft in 2023, and currently stands at Rs 1,300 per sq.ft as of the 2024 revision.

From 2012 to 2017, there was a decrease of 33%, but from 2017 to 2023, the value increased by 49%. The most recent change from 2023 to 2024 reflects an increase of 8%. Overall, from 2012 to 2024, the guideline value has risen by 8%.

Guideline values in Puthagaram

In Puthagaram, there are 140 streets under the Ambattur SRO that carry a 2024 guideline value ranging from Rs 1,200 to Rs 3,800 per sq.ft, with a median value of Rs 1,900 per sq.ft. The guideline value for Magathma ganthi Nagar is below this median.

• Lakshmi Nagar anex: Rs 2,200 per sq.ft (2024)
• Lakshmi Nagar: Rs 2,200 per sq.ft (2024)
• Lakshmi Amman Kovil Street: Rs 1,300 per sq.ft (2024)
• Lakshmanan Nagar: Rs 1,300 per sq.ft (2024)
• Mathavan Nagar: Rs 2,200 per sq.ft (2024)
• Mathavan Nagar anex: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Magathma ganthi Nagar

For a 1,000 sq.ft plot at the current rate of Rs 1,300 per sq.ft, the guideline value amounts to Rs 13,00,000. The stamp duty at 7% would be Rs 91,000, and the registration fee at 2% would be Rs 26,000, totaling Rs 1,17,000. It is important to note that duty is charged on the guideline value or the sale price, whichever is higher. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Magathma ganthi Nagar?

The Sub Registrar Office covering Magathma ganthi 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 Puthagaram

The guideline value plays a crucial role in the registration of property transactions in Puthagaram. It is used to determine the stamp duty and registration fees that need to be paid during the sale or purchase of a property.

When a property is registered, the guideline value is assessed to ensure that the correct fees are applied. Buyers and sellers must be aware of this value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Magathma ganthi Nagar?

The current guideline value of Magathma ganthi Nagar is Rs 1,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,200 per sq.ft in 2012 to Rs 804 per sq.ft in 2017, then increased to Rs 1,200 per sq.ft in 2023, and is currently Rs 1,300 per sq.ft in 2024.

What is the land classification of Magathma ganthi Nagar?

Magathma ganthi Nagar is classified as Residential Class IV Type - I.

Where can I find information about the registration office?

The registration office for Magathma ganthi Nagar is the Ambattur Sub Registrar Office, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone.

How is stamp duty calculated for properties in Magathma ganthi Nagar?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 13,00,000, the stamp duty would be Rs 91,000 at a rate of 7%.