Guideline Value for Maxworth Nagar Phase I

Maxworth Nagar Phase I guideline value

The current guideline value of Maxworth Nagar Phase I is Rs 3,290 per sq.ft, effective from 1 July 2024. This area is located in Kolapakkam village and falls under the Pammal SRO. The land classification for this street is Commercial Class I Type - I.

How the guideline value of Maxworth Nagar Phase I has changed

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

Overall, from 2017 to 2024, the guideline value has increased by 64%. It is important to note that the register does not have 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 Maxworth Nagar Phase I is above this median.

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

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

Which Sub Registrar Office covers Maxworth Nagar Phase I?

The Sub Registrar Office that covers Maxworth Nagar Phase I is the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, 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 a crucial factor in the registration process when buying or selling property in Kolapakkam. It serves as a benchmark for determining the stamp duty and registration fees applicable to the property transaction.

When a property is sold, the guideline value is used to calculate the stamp duty, which is charged on the higher of the guideline value or the sale price. This ensures that the registration process is transparent and standardized across the region.

Frequently asked questions

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

The current guideline value of Maxworth Nagar Phase I is Rs 3,290 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

Since 2017, 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 for Maxworth Nagar Phase I?

The land classification for Maxworth Nagar Phase I is Commercial Class I Type - I.

Where can I find the Pammal Sub Registrar Office?

The Pammal Sub Registrar Office is located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, Chengalpattu registration zone.

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

Stamp duty 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 guideline value of Rs 3,290 per sq.ft, the stamp duty would be Rs 2,30,300.