Guideline Value for Highways Nagar

Highways Nagar guideline value

The current guideline value of Highways Nagar is Rs 300 per sq.ft, effective from 1 July 2024. This area is located in Mannoor village, under the Sriperumpudur SRO, classified as Residential Class I Type - I.

How the guideline value of Highways Nagar has changed

The guideline value for Highways Nagar has seen several revisions over the years. In 2007, the value was Rs 175 per sq.ft, which increased to Rs 300 per sq.ft in 2012. The value remained unchanged at Rs 300 per sq.ft from 2012 to 2023, before the latest revision in 2024, which also set it at Rs 300 per sq.ft. There are no figures available for the years 2002 and 2003 in the register for this street.

From 2012 to 2017, the guideline value decreased by 33%, dropping to Rs 201 per sq.ft. However, it then increased by 49% to return to Rs 300 per sq.ft by 2023. Overall, from 2007 to 2024, the guideline value has increased by 71%.

Guideline values in Mannoor

In Mannoor, there are 56 streets under the Sriperumpudur SRO that carry a 2024 guideline value range from Rs 100 to Rs 1,500 per sq.ft, with a median value of Rs 250 per sq.ft. Highways Nagar's 2024 guideline value of Rs 300 per sq.ft is above this median.

• Indira Nagar: Rs 200 per sq.ft (2024)
• Grand J.V.Nagar: Rs 700 per sq.ft (2024)
• Jasmine Sri Ganesh Nagar: Rs 500 per sq.ft (2024)
• Jeyalaxmi Nagar: Rs 300 per sq.ft (2024)
• Kamatchi Nagar: Rs 250 per sq.ft (2024)
• Karthik Nagar: Rs 250 per sq.ft (2024)

Stamp duty and registration fee for property in Highways Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 300 per sq.ft, the total guideline value would be Rs 3,00,000. The stamp duty at 7% would be Rs 21,000, and the registration fee at 2% would be Rs 6,000, bringing the total fees to Rs 27,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can also use the stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Highways Nagar?

The Sub Registrar Office that covers Highways Nagar is the Sriperumpudur Sub Registrar Office, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value is a critical factor when registering property transactions in Mannoor. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When buying or selling property, the guideline value ensures that the transaction is recorded at a fair value, which helps in maintaining transparency in the real estate market. It is essential for both buyers and sellers to be aware of the current guideline value to understand their financial obligations during registration.

Frequently asked questions

What is the current guideline value of Highways Nagar?

The current guideline value of Highways Nagar is Rs 300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has remained at Rs 300 per sq.ft from 2012 to 2024, with a previous decrease to Rs 201 per sq.ft in 2017. The value was Rs 175 per sq.ft in 2007.

What is the classification of land in Highways Nagar?

Highways Nagar is classified as Residential Class I Type - I, indicating its suitability for residential development.

Where can I find the Sub Registrar Office for Highways Nagar?

The Sub Registrar Office for Highways Nagar is located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone.

How is the stamp duty calculated for properties in Highways Nagar?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a property valued at Rs 3,00,000 would incur a stamp duty of Rs 21,000 at 7%.