Guideline Value for Mahasakthi Raja Nagar

Mahasakthi Raja Nagar guideline value

The current guideline value of Mahasakthi Raja Nagar is Rs 300 per sq.ft, effective from 1 July 2024. This area is located in Vellerithangal village and falls under the Gooduvancheri SRO, classified as Residential Special Type - I.

How the guideline value of Mahasakthi Raja Nagar has changed

The guideline value for Mahasakthi Raja Nagar has seen several revisions over the years. In 2007, the guideline value was Rs 65 per sq.ft, which increased significantly to Rs 300 per sq.ft in 2012. However, this value saw a decrease of 33% to Rs 201 per sq.ft in 2017. The subsequent revision in 2023 maintained the value at Rs 300 per sq.ft, which remained unchanged in the 2024 revision.

There are no figures available for the years 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 362% from Rs 65 per sq.ft to Rs 300 per sq.ft.

Guideline values in Vellerithangal

In Vellerithangal, there are 21 streets under the Gooduvancheri SRO that have a 2024 guideline value ranging from Rs 250 to Rs 1,400 per sq.ft, with a median value of Rs 400 per sq.ft. The guideline value of Mahasakthi Raja Nagar is below this median.

• Mahasakthi Raja Nagar Extn-I & II: Rs 300 per sq.ft (2024)
• Mangala Nagar: Rs 250 per sq.ft (2024)
• Mangala Nagar Extn: Rs 250 per sq.ft (2024)
• Mangala Nagar Stage-II: Rs 250 per sq.ft (2024)
• Mangala Nagar Stage-V: Rs 250 per sq.ft (2024)
• Krishnamohana Nagar: Rs 400 per sq.ft (2024)

Stamp duty and registration fee for property in Mahasakthi Raja Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 300 per sq.ft, the total guideline value would be Rs 3,00,000. The stamp duty at 7% would amount to Rs 21,000, and the registration fee at 2% would be Rs 6,000, bringing the total fees to Rs 27,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

You can use our stamp duty and registration fee calculator for more accurate calculations.

Which Sub Registrar Office covers Mahasakthi Raja Nagar?

The Mahasakthi Raja Nagar area is covered by 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 information.

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

The guideline value is a critical factor when registering property in Vellerithangal. It serves as a benchmark for determining the minimum value at which a property can be sold or purchased, ensuring that the transaction is recorded accurately in the official register.

When you buy or sell property, the guideline value helps in calculating the applicable stamp duty and registration fees. This ensures that both parties are aware of the financial implications of their transaction, based on the established guideline value.

Frequently asked questions

What is the current guideline value of Mahasakthi Raja Nagar?

The current guideline value of Mahasakthi Raja Nagar is Rs 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 65 per sq.ft in 2007 to Rs 300 per sq.ft in 2012, then decreased to Rs 201 per sq.ft in 2017, and returned to Rs 300 per sq.ft in 2023 and 2024.

What are the guideline values for other streets in Vellerithangal?

Other streets in Vellerithangal have guideline values ranging from Rs 250 to Rs 1,400 per sq.ft, with Mahasakthi Raja Nagar being below the median value of Rs 400 per sq.ft.

What fees are associated with buying property in Mahasakthi Raja Nagar?

When buying property, the fees include stamp duty at 7% and a registration fee at 2% of the guideline value or sale price, whichever is higher.

Where can I find the Gooduvancheri SRO?

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