Guideline Value for Maharaja Nagar

Maharaja Nagar guideline value

The current guideline value of Maharaja Nagar is Rs 1,500 per sq.ft, effective from 1 July 2024. This area is located in Gooduvancheri village, under the Gooduvancheri SRO, and is classified as Residential Special Type - I.

How the guideline value of Maharaja Nagar has changed

The guideline value for Maharaja Nagar has seen several revisions over the years. In 2017, the guideline value was set at Rs 1,005 per sq.ft. This figure remained unchanged until the 2023 revision, which also recorded Rs 1,500 per sq.ft. The most recent 2024 revision, effective from 1 July 2024, also retains the value at Rs 1,500 per sq.ft, indicating no change from the previous year.

From 2017 to 2023, the guideline value increased by 49%. Overall, from 2017 to 2024, the increase remains at 49%. The register does not provide figures for the years 2002, 2003, 2007, and 2012 for this street.

Guideline values in Gooduvancheri

In Gooduvancheri, there are 129 streets under the Gooduvancheri SRO that carry a 2024 guideline value ranging from Rs 1,000 to Rs 3,500 per sq.ft. The median value is Rs 1,500 per sq.ft, which is equal to the guideline value of Maharaja Nagar.

• Mahalakshmi Street: Rs 2,001 per sq.ft (2024)
• Mangal Nagar: Rs 2,001 per sq.ft (2024)
• Lal Bagadur Sastri Street: Rs 2,001 per sq.ft (2024)
• Manimegalai Street: Rs 2,001 per sq.ft (2024)
• Kupuswamy Pillai Street: Rs 1,200 per sq.ft (2024)
• Kupuswamy Nayakar Street: Rs 2,001 per sq.ft (2024)

Stamp duty and registration fee for property in Maharaja Nagar

For a 1,000 sq.ft plot at the current rate, the guideline value is Rs 15,00,000. The stamp duty at 7% would be Rs 1,05,000, and the registration fee at 2% would be Rs 30,000, totaling Rs 1,35,000. It is important to note that 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 information.

Which Sub Registrar Office covers Maharaja Nagar?

The Sub Registrar Office that covers Maharaja Nagar is the Gooduvancheri Sub Registrar Office, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvancheri-603202, Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Gooduvancheri. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is registered, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties. This ensures that the registration process is aligned with the official valuation of properties in the area.

Frequently asked questions

What is the current guideline value of Maharaja Nagar?

The current guideline value of Maharaja Nagar is Rs 1,500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has remained at Rs 1,500 per sq.ft from 2023 to 2024, showing no change. From 2017 to 2023, it increased by 49% from Rs 1,005 per sq.ft to Rs 1,500 per sq.ft.

What is the land classification of Maharaja Nagar?

Maharaja Nagar is classified as Residential Special Type - I, indicating its suitability for residential development.

Where is the Gooduvancheri Sub Registrar Office located?

The Gooduvancheri Sub Registrar Office is located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvancheri-603202, Chengalpattu registration zone.

How is the stamp duty calculated for properties in Maharaja Nagar?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, on a property valued at Rs 15,00,000, the stamp duty would be Rs 1,05,000 at 7%.