Guideline Value for SREE MAHARISH ENCLAVE PHASE II

Sree Maharish Enclave Phase II guideline value

The current guideline value of Sree Maharish Enclave Phase II is Rs 500 per sq.ft, effective from 1 July 2024. This property is located in Nayapakkam village under the Manavalanagar SRO, classified as Residential Class II Type - I.

How the guideline value of Sree Maharish Enclave Phase II has changed

The guideline value for Sree Maharish Enclave Phase II has undergone several revisions over the years. The most recent revision in 2024 set the value at Rs 500 per sq.ft, which is the same as the 2023 revision. The 2017 revision was Rs 335 per sq.ft, showing an increase of 49% from 2017 to 2023. In contrast, the 2012 revision was also Rs 500 per sq.ft, indicating a decrease of 33% from 2012 to 2017. Overall, from 2012 to 2024, the guideline value has remained unchanged at Rs 500 per sq.ft.

It is important to note that there are no figures available for the revisions in 2002, 2003, and 2007 for this street. The guideline value history reflects the changes and stability in property valuation over the years.

Guideline values in Nayapakkam

Nayapakkam village has 16 streets under the Manavalanagar SRO that carry a 2024 guideline value ranging from Rs 400 to Rs 900 per sq.ft, with the median value being Rs 500 per sq.ft. Sree Maharish Enclave Phase II's 2024 figure matches this median value.

• Sree Maharish Enclave Phase I: Rs 500 per sq.ft (2024)
• Spanish City: Rs 600 per sq.ft (2024)
• Info Tech City Extension: Rs 500 per sq.ft (2024)
• Infotech City: Rs 500 per sq.ft (2024)
• Golden Avenue Part II: Rs 500 per sq.ft (2024)
• Golden Avenue Part I: Rs 500 per sq.ft (2024)

Stamp duty and registration fee for property in Sree Maharish Enclave Phase II

For a 1,000 sq.ft plot at the current guideline value of Rs 500 per sq.ft, the total guideline value amounts to Rs 5,00,000. The stamp duty at 7% would be Rs 35,000, and the registration fee at 2% would be Rs 10,000, bringing the total fees to Rs 45,000. It is important to note that 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 Sree Maharish Enclave Phase II?

The Sub Registrar Office that covers Sree Maharish Enclave Phase II is the Manavalanagar Sub Registrar Office. The address is Sub Registrar Office, Thandalam Main Road, Nungambakkam Village, Manavalanagar-602002, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions in Nayapakkam. It serves as a benchmark for determining the stamp duty and registration fees applicable during the sale or purchase of property. When registering a property, the guideline value is used to calculate the fees, ensuring compliance with local regulations.

Buyers and sellers should be aware that the guideline value may differ from the market price of the property. However, the registration process will rely on the guideline value to assess the applicable duties and fees, making it essential for all parties involved in the transaction.

Frequently asked questions

What is the current guideline value of Sree Maharish Enclave Phase II?

The current guideline value of Sree Maharish Enclave Phase II is Rs 500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 500 per sq.ft in 2012 to Rs 335 per sq.ft in 2017, then back to Rs 500 per sq.ft in 2024, with an overall change of +0% from 2012 to 2024.

What are the stamp duty and registration fees for property in Sree Maharish Enclave Phase II?

For a 1,000 sq.ft plot at the current guideline value, the total stamp duty would be Rs 35,000 and the registration fee would be Rs 10,000, totaling Rs 45,000.

Which office handles registrations for properties in Nayapakkam?

The Manavalanagar Sub Registrar Office handles registrations for properties in Nayapakkam, located at Thandalam Main Road, Nungambakkam Village, Manavalanagar-602002, Chennai registration zone.

How is the guideline value determined for properties in Nayapakkam?

The guideline value for properties in Nayapakkam is determined by the Registration Department's guideline value register, which is updated periodically to reflect changes in property valuations.