Guideline Value for Maxworth Nagar Phase III

Maxworth Nagar Phase III guideline value

The current guideline value of Maxworth Nagar Phase III is Rs 3,290 per sq.ft. This area is located in Kolapakkam village, under the Pammal SRO, and is classified as Commercial Class I Type - I.

How the guideline value of Maxworth Nagar Phase III has changed

Over the years, the guideline value for Maxworth Nagar Phase III has seen significant changes. The 2017 revision set the value at Rs 2,010 per sq.ft, which increased to Rs 3,000 per sq.ft in the 2023 revision, marking a 49% increase. The most recent revision in 2024 has further raised the guideline value to Rs 3,290 per sq.ft, reflecting a 10% increase from the previous year.

Overall, from the 2017 revision to the 2024 revision, the guideline value has increased by 64%. It is important to note that there are no figures available for the revisions in 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 of Maxworth Nagar Phase III is above this median.

• Maxworth Nagar Phase II: Rs 3,290 per sq.ft (2024)
• Max Worth Nagar (ward 9): 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 Maxworth Nagar Phase III

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 is charged at 7%, amounting to Rs 2,30,300, and the registration fee at 2% amounts to Rs 65,800. Together, the total cost would be 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 our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Maxworth Nagar Phase III?

The Sub Registrar Office that covers Maxworth Nagar Phase III 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 is an essential factor in property transactions in Kolapakkam. When you buy or sell property, the guideline value is used to calculate the stamp duty and registration fees, which are mandatory for the registration process.

It is crucial to be aware that the guideline value may differ from the actual sale price. The stamp duty is levied on the higher amount between the guideline value and the sale price, ensuring that the government receives appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Maxworth Nagar Phase III?

The current guideline value of Maxworth Nagar Phase III 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 from Rs 2,010 per sq.ft to Rs 3,290 per sq.ft in 2024, marking an overall increase of 64%.

What is the land classification of Maxworth Nagar Phase III?

Maxworth Nagar Phase III is classified as Commercial Class I Type - I, indicating its suitability for commercial activities.

Where can I find the Sub Registrar Office for Maxworth Nagar Phase III?

The Sub Registrar Office for Maxworth Nagar Phase III is located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, in the Chengalpattu registration zone.

How is stamp duty calculated for properties in Maxworth Nagar Phase III?

Stamp duty for properties in Maxworth Nagar Phase III is calculated based on the higher of the guideline value or the sale price. For example, for a 1,000 sq.ft plot at the current guideline value, the stamp duty would be Rs 2,30,300 at 7% of Rs 32,90,000.