Guideline Value for Maragatham Chandrasekar Nagar

Maragatham Chandrasekar Nagar guideline value

The current guideline value of Maragatham Chandrasekar Nagar is Rs 2,970 per sq.ft, effective from 1 July 2024. This area is located in Mogalivakkam village under the Kunrathur SRO, classified as Residential Special Type - I.

How the guideline value of Maragatham Chandrasekar Nagar has changed

The guideline value for Maragatham Chandrasekar Nagar has undergone several revisions over the years. The earliest available figure is from 2007, where it was Rs 600 per sq.ft. This increased significantly to Rs 2,700 per sq.ft in 2012, marking a 350% rise. However, it then decreased to Rs 1,809 per sq.ft in 2017, which was a 33% drop. Following this, the value rose to Rs 2,700 per sq.ft in 2023, a 49% increase, and finally reached Rs 2,970 per sq.ft in the 2024 revision, reflecting a 10% increase.

It is important to note that there are no figures available for the years 2002 and 2003 in the register for this street. Overall, from 2007 to 2024, the guideline value has increased by 395%.

Guideline values in Mogalivakkam

In Mogalivakkam, there are 98 streets under the Kunrathur SRO that have a guideline value for 2024 ranging from Rs 2,530 to Rs 6,600 per sq.ft, with the median value being Rs 2,970 per sq.ft. The guideline value for Maragatham Chandrasekar Nagar is equal to this median.

• Mariamman Koil Street: Rs 2,970 per sq.ft (2024)
• Maris Avenue: Rs 6,600 per sq.ft (2024)
• Manapakkam Road: Rs 3,520 per sq.ft (2024)
• Mettukuppam: Rs 2,970 per sq.ft (2024)
• Mettukuppam Bajanai Koil Street: Rs 2,970 per sq.ft (2024)
• Mahalakshmi Nagar: Rs 3,520 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 rate of Rs 2,970 per sq.ft, the guideline value amounts to Rs 29,70,000. The stamp duty at 7% would be Rs 2,07,900, and the registration fee at 2% would be Rs 59,400, making a total of Rs 2,67,300. It is important to note that the 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 details.

Which Sub Registrar Office covers Maragatham Chandrasekar Nagar?

The Sub Registrar Office that covers Maragatham Chandrasekar Nagar is the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069. You can find your SRO for more information.

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

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

When you register a property, the higher value between the guideline value and the sale price is considered for calculating these fees. This ensures that the fees reflect the true value of the property being transferred.

Frequently asked questions

What is the current guideline value of Maragatham Chandrasekar Nagar?

The current guideline value of Maragatham Chandrasekar Nagar is Rs 2,970 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has changed significantly from Rs 600 per sq.ft in 2007 to Rs 2,970 per sq.ft in 2024, representing an overall increase of 395%.

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

For a property valued at Rs 29,70,000, the stamp duty would be Rs 2,07,900 and the registration fee would be Rs 59,400, totaling Rs 2,67,300.

Which office handles property registrations for Maragatham Chandrasekar Nagar?

The Kunrathur Sub Registrar Office handles property registrations for Maragatham Chandrasekar Nagar, located at No.59, Road Street, Kundrathur, Chennai -600 069.

How is the guideline value determined for properties in Mogalivakkam?

The guideline value is determined by the Registration Department and is based on various factors including land classification and market conditions. It is revised periodically to reflect current values.