Guideline Value for Maha Sakthi Colony

Maha Sakthi Colony guideline value

The current guideline value of Maha Sakthi Colony, located in Chembakkam village under the Selaiyur SRO, is Rs 2,400 per sq.ft. This value is effective from 1 July 2024 and falls under the land classification of Residential Special Type - I.

How the guideline value of Maha Sakthi Colony has changed

The guideline value of Maha Sakthi Colony has seen several revisions over the years. In 2007, the value was set at Rs 750 per sq.ft. This increased significantly to Rs 2,200 per sq.ft in 2012, marking a 193% rise. However, it then decreased to Rs 1,474 per sq.ft in 2017, a drop of 33%. The value continued to rise, reaching Rs 2,200 per sq.ft in 2023, and then increased by 9% to Rs 2,400 per sq.ft in 2024.

From 2017 to 2023, there was a substantial increase of 49%. Overall, from 2007 to 2024, the guideline value has increased by 220%. The register does not have figures for the years 2002 and 2003 for this street.

Guideline values in Chembakkam

In Chembakkam, there are 472 streets under the Selaiyur SRO, with guideline values ranging from Rs 850 to Rs 6,700 per sq.ft. The median value is Rs 2,200 per sq.ft, placing the 2024 figure for Maha Sakthi Colony above this median.

• Maha Sakthi Colony 1st Cross Street: Rs 2,400 per sq.ft (2024)
• Maha Sakthi Colony 1st Main Road Extn: Rs 2,400 per sq.ft (2024)
• Maha Sakthi Colony 1st Street: Rs 2,400 per sq.ft (2024)
• Maha Sakthi Colony 2nd Cross Street: Rs 2,400 per sq.ft (2024)
• Maha Sakthi Colony 2nd Main Road Extn: Rs 2,400 per sq.ft (2024)
• Maha Sakthi Colony 2nd Street: Rs 2,400 per sq.ft (2024)

Stamp duty and registration fee for property in Maha Sakthi Colony

For a 1,000 sq.ft plot at the current guideline value of Rs 2,400 per sq.ft, the total guideline value amounts to Rs 24,00,000. The stamp duty at 7% would be Rs 1,68,000, and the registration fee at 2% would be Rs 48,000, resulting in a total of Rs 2,16,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Maha Sakthi Colony?

The Maha Sakthi Colony is covered by the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, in the Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value is a crucial factor when registering property transactions in Chembakkam. It serves as a benchmark for determining the minimum value of a property, ensuring that the registration process is transparent and fair.

When buying or selling property, the guideline value is used to calculate the applicable stamp duty and registration fees, which are mandatory for legal ownership transfer. This ensures that all transactions are in compliance with the regulations set by the Registration Department.

Frequently asked questions

What is the current guideline value of Maha Sakthi Colony?

The current guideline value of Maha Sakthi Colony is Rs 2,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 750 per sq.ft in 2007 to Rs 2,400 per sq.ft in 2024, reflecting an overall increase of 220% over this period.

What is the median guideline value in Chembakkam?

The median guideline value in Chembakkam is Rs 2,200 per sq.ft, with Maha Sakthi Colony's 2024 figure being above this median.

How is stamp duty calculated in Maha Sakthi Colony?

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, the stamp duty would be Rs 1,68,000 based on the current guideline value.

Where is the Selaiyur Sub Registrar Office located?

The Selaiyur Sub Registrar Office is located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073.