Guideline Value for MAHA NAGAR

Maha Nagar guideline value

The current guideline value of Maha Nagar, located in Koppur village under the Manavalanagar SRO, is Rs 350 per sq.ft, effective from 1 July 2024. This area falls under the Residential Class II Type - I land classification.

How the guideline value of Maha Nagar has changed

According to the guideline value register, there are no figures available for Maha Nagar for the years 2002, 2003, 2007, 2012, and 2017. The 2023 revision set the guideline value at Rs 350 per sq.ft, which remained unchanged in the 2024 revision.

Thus, from the 2023 to the 2024 revision, the guideline value experienced no percentage change, remaining at Rs 350 per sq.ft.

Guideline values in Koppur

Koppur village has a total of 14 streets under the Manavalanagar SRO that carry a 2024 guideline value, ranging from Rs 202 to Rs 1,800 per sq.ft, with a median value of Rs 400 per sq.ft. The guideline value for Maha Nagar is below this median.

• Mahidara Sarovar: Rs 250 per sq.ft (2024)
• Happy Home Colony: Rs 450 per sq.ft (2024)
• Senthoor Nagar: Rs 450 per sq.ft (2024)
• Aura Residences Phase -3: Rs 1,800 per sq.ft (2024)
• Green Homes: Rs 450 per sq.ft (2024)
• Green Homes Part 3: Rs 450 per sq.ft (2024)

Stamp duty and registration fee for property in Maha Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 350 per sq.ft, the total guideline value amounts to Rs 3,50,000. The stamp duty is calculated at 7%, which equals Rs 24,500, while the registration fee is 2%, totaling Rs 7,000. Therefore, the total cost for duty and registration comes to Rs 31,500. Note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Maha Nagar?

The Maha Nagar area is covered by the Manavalanagar Sub Registrar Office, located at Sub Registrar Office, Thandalam Main Road, Nungambakkam Village, Manavalanagar-602002, Chennai. To find your specific SRO, you can visit find your SRO.

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

The guideline value plays a crucial role in the registration process for property transactions in Koppur. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the state receives appropriate revenue from stamp duty and registration fees.

When buying or selling property, the guideline value is used to calculate the applicable stamp duty and registration fees. Buyers should be aware that these costs are based on the guideline value or the sale price, whichever is higher, ensuring compliance with local regulations.

Frequently asked questions

What is the current guideline value of Maha Nagar?

The current guideline value of Maha Nagar is Rs 350 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value for Maha Nagar has remained at Rs 350 per sq.ft from 2023 to 2024. There are no figures available for the years 2002, 2003, 2007, 2012, and 2017.

What are the stamp duty and registration fees for a property in Maha Nagar?

The stamp duty for a property valued at Rs 3,50,000 is Rs 24,500, and the registration fee is Rs 7,000, totaling Rs 31,500 for a 1,000 sq.ft plot.

Which Sub Registrar Office covers Maha Nagar?

The Manavalanagar Sub Registrar Office covers Maha Nagar, located at Thandalam Main Road, Nungambakkam Village, Manavalanagar-602002, Chennai.

How is the guideline value used in property transactions?

The guideline value is used to determine the minimum registration value for properties in Koppur. It is essential for calculating the stamp duty and registration fees based on the higher of the guideline value or the sale price.