Guideline Value for Maragatham Chandrasekar Nagar

Maragatham Chandrasekar Nagar guideline value

The current guideline value of Maragatham Chandrasekar Nagar is Rs 3,300 per sq.ft, effective from 1 July 2024. This area is located in Hastinapuram village, under the Pallavaram SRO, and is classified as Commercial Class I Type - II.

How the guideline value of Maragatham Chandrasekar Nagar has changed

The guideline value for Maragatham Chandrasekar Nagar has seen several revisions over the years. The earliest recorded revision was in 2007, with a value of Rs 840 per sq.ft. This figure increased significantly to Rs 3,000 per sq.ft in 2012, marking a 257% rise. However, the value decreased to Rs 2,010 per sq.ft in 2017, a drop of 33%. The subsequent revision in 2023 raised the value to Rs 3,000 per sq.ft, followed by the latest revision in 2024, which set the value at Rs 3,300 per sq.ft, representing a 10% increase from the previous year.

From 2017 to 2023, the value increased by 49%. Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 293%. It is important to note that there are no figures available for the years 2002 and 2003 for this street in the register.

Guideline values in Hastinapuram

In Hastinapuram, there are 277 streets under the Pallavaram SRO that carry a 2024 guideline value ranging from Rs 1,650 to Rs 4,400 per sq.ft. The median guideline value in this area is Rs 2,970 per sq.ft, placing Maragatham Chandrasekar Nagar's 2024 figure above this median.

• Maragatham 5th Cross Street: Rs 3,300 per sq.ft (2024)
• Maragatham 4th Cross Street: Rs 3,300 per sq.ft (2024)
• Maragatham 3rd Main Road: Rs 3,300 per sq.ft (2024)
• Maragatham 3rd Cross Street: Rs 2,970 per sq.ft (2024)
• Maragatham 2nd Main Road: Rs 3,300 per sq.ft (2024)
• Maragatham 2nd Cross Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Maragatham Chandrasekar Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value amounts to Rs 33,00,000. The stamp duty, charged at 7%, would be Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, bringing the total to Rs 2,97,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

You can use the stamp duty and registration fee calculator for more precise calculations.

Which Sub Registrar Office covers Maragatham Chandrasekar Nagar?

The Sub Registrar Office covering Maragatham Chandrasekar Nagar is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, 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 Hastinapuram

The guideline value plays a crucial role in property transactions in Hastinapuram. It is used to determine the stamp duty and registration fees that are payable at the time of registration. Buyers and sellers should be aware that the guideline value is the basis for these fees, ensuring that they are calculated accurately based on the property value.

When a property is sold, the guideline value is referenced to ensure compliance with local regulations. It is essential for both parties to understand the guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Maragatham Chandrasekar Nagar?

The current guideline value of Maragatham Chandrasekar Nagar is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 840 per sq.ft in 2007 to Rs 3,300 per sq.ft in 2024, representing an overall increase of 293% over the years.

What are the stamp duty and registration fees for properties in this area?

The stamp duty is charged at 7%, and the registration fee is 2% of the guideline value. For example, for a property valued at Rs 33,00,000, the total fees would amount to Rs 2,97,000.

Which office handles property registrations for Maragatham Chandrasekar Nagar?

The Pallavaram Sub Registrar Office handles property registrations for Maragatham Chandrasekar Nagar, located at 7th Main Road, New Colony, Chromepet, Chennai.

How is the guideline value used in property transactions?

The guideline value is used to calculate the stamp duty and registration fees during property transactions. It ensures that the fees are based on the official valuation of the property, maintaining transparency in the registration process.