Guideline Value for Maxworth Nagar

Maxworth Nagar guideline value

The current guideline value of Maxworth Nagar is Rs 4,400 per sq.ft, effective from 1 July 2024. This locality is situated in S. Kullathur village, under the Pallavaram SRO, and is classified as Commercial Class I Type - II.

How the guideline value of Maxworth Nagar has changed

Over the years, the guideline value for Maxworth Nagar has seen several revisions. The earliest recorded figure is from 2007, where the guideline value was Rs 1,452 per sq.ft. This figure increased significantly to Rs 4,000 per sq.ft in 2012, marking a 175% increase. However, it then dropped to Rs 2,680 per sq.ft in 2017, representing a decrease of 33%. From 2017 to 2023, the value rose to Rs 4,000 per sq.ft, reflecting a substantial increase of 49%. The most recent revision in 2024 set the guideline value at Rs 4,400 per sq.ft, which is a 10% increase from the previous year.

The register has no figures for the years 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 203%.

Guideline values in S. Kullathur

In S. Kullathur, there are 71 streets under the Pallavaram SRO that have a guideline value as of 2024, ranging from Rs 1,320 to Rs 4,400 per sq.ft. The median value for these streets is Rs 2,750 per sq.ft, placing Maxworth Nagar's 2024 figure above that median.

• Maxworth Nagar 1 To 10 Main Road: Rs 4,400 per sq.ft (2024)
• Maruthupandiyar Avenue: Rs 2,750 per sq.ft (2024)
• Maruthapanidan Avenue 1 To 8 Streets: Rs 2,750 per sq.ft (2024)
• Marudhapandiayar Avenue Etention: Rs 2,750 per sq.ft (2024)
• Mariamman Koil Street: Rs 2,530 per sq.ft (2024)
• M.G.R.Nagar 1 To 7 Streets: Rs 2,530 per sq.ft (2024)

Stamp duty and registration fee for property in Maxworth Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 4,400 per sq.ft, the total guideline value would be Rs 44,00,000. The stamp duty at 7% would amount to Rs 3,08,000, and the registration fee at 2% would be Rs 88,000, bringing the total to Rs 3,96,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Maxworth Nagar?

The Sub Registrar Office that covers Maxworth Nagar is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone. You can find your SRO for more information.

How the guideline value is used when you buy or sell in S. Kullathur

The guideline value is a crucial factor in property transactions in S. Kullathur as it determines the stamp duty and registration fees applicable during the buying or selling process. Buyers and sellers must consider this value to ensure compliance with local regulations and to accurately calculate the financial implications of their transactions.

When registering a property, the guideline value is used to assess the appropriate tax liabilities. This ensures that the government receives the correct amount of revenue from property transactions, based on the established values in the area.

Frequently asked questions

What is the current guideline value of Maxworth Nagar?

The current guideline value of Maxworth Nagar is Rs 4,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly, increasing from Rs 1,452 per sq.ft in 2007 to Rs 4,400 per sq.ft in 2024, which is an overall increase of 203%.

What is the land classification for Maxworth Nagar?

Maxworth Nagar is classified as Commercial Class I Type - II, which indicates its suitability for commercial activities.

Where is the Sub Registrar Office for Maxworth Nagar located?

The Pallavaram Sub Registrar Office is located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone.

How is stamp duty calculated in Maxworth Nagar?

Stamp duty in Maxworth Nagar is calculated based on the guideline value or the sale price, whichever is higher. For example, a property valued at Rs 44,00,000 would incur a stamp duty of Rs 3,08,000 at 7%.