Guideline Value for Max Worth Nagar (ward 9)

Max Worth Nagar (ward 9) guideline value

The current guideline value of Max Worth Nagar (ward 9) is Rs 3,290 per sq.ft, effective from 1 July 2024. This area is located in Kolapakkam village and falls under the Pammal Sub Registrar Office (SRO). The land classification for this street is Commercial Class I Type - I.

How the guideline value of Max Worth Nagar (ward 9) has changed

The guideline value for Max Worth Nagar has undergone several revisions over the years. The 2017 revision set the value at Rs 2,010 per sq.ft. This was followed by a significant increase in the 2023 revision, which raised the value to Rs 3,000 per sq.ft, marking a 49% increase from the previous revision. The latest revision in 2024 further increased the value by 10% to Rs 3,290 per sq.ft.

Overall, from the 2017 revision to the current 2024 revision, the guideline value has increased by 64%. It is important to note that the register has no figures for the years 2002, 2003, 2007, and 2012 for this street.

Guideline values in Kolapakkam

In Kolapakkam, there are 111 streets under the Pammal SRO that carry a 2024 guideline value, ranging from Rs 1,650 to Rs 6,850 per sq.ft, with a median value of Rs 2,200 per sq.ft. The guideline value for Max Worth Nagar (ward 9) is above this median.

• Maxworth Nagar Phase III: Rs 3,290 per sq.ft (2024)
• Maxworth Nagar Phase II: Rs 3,290 per sq.ft (2024)
• Maxworth Nagar Phase I: Rs 3,290 per sq.ft (2024)
• Mayor Radha Krishnan Nagar: Rs 2,750 per sq.ft (2024)
• Maruthi Nagar: Rs 2,750 per sq.ft (2024)
• M.G.R Nagar (ward 1): Rs 1,650 per sq.ft (2024)

Stamp duty and registration fee for property in Max Worth Nagar (ward 9)

For a 1,000 sq.ft plot at the current guideline value of Rs 3,290 per sq.ft, the total guideline value would be Rs 32,90,000. The stamp duty at 7% would amount to Rs 2,30,300, and the registration fee at 2% would be Rs 65,800, bringing the total fees together to Rs 2,96,100. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can also use the stamp duty and registration fee calculator for further calculations.

Which Sub Registrar Office covers Max Worth Nagar (ward 9)?

The Sub Registrar Office that covers Max Worth Nagar (ward 9) is the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Kolapakkam. It is used to determine the stamp duty and registration fees that need to be paid during the transaction. Buyers should be aware that the guideline value may differ from the actual sale price.

When registering a property, the authorities will assess the guideline value to ensure that the appropriate fees are collected. This helps maintain transparency and standardization in property transactions within the region.

Frequently asked questions

What is the current guideline value of Max Worth Nagar (ward 9)?

The current guideline value of Max Worth Nagar (ward 9) is Rs 3,290 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

Since the 2017 revision, the guideline value has increased by 64%, from Rs 2,010 per sq.ft in 2017 to Rs 3,290 per sq.ft in 2024.

What are the other streets in Kolapakkam with similar guideline values?

Other streets in Kolapakkam with similar guideline values include Maxworth Nagar Phase I, II, and III, all at Rs 3,290 per sq.ft for 2024.

Where can I find the registration office for Max Worth Nagar?

The registration office for Max Worth Nagar (ward 9) is the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075.

How is the stamp duty calculated for properties in Max Worth Nagar?

The stamp duty for properties in Max Worth Nagar is calculated at 7% of the guideline value or sale price, whichever is higher, along with a registration fee of 2%.