Guideline Value for MAHA VISHNU NAGAR

Maha Vishnu Nagar guideline value

The current guideline value of Maha Vishnu Nagar is Rs 770 per sq.ft, effective from 1 July 2024. This area is located in Mathuranthagam village under the Madurandakam SRO, classified as a New House Site Type -III (Approved Lay-Out).

How the guideline value of Maha Vishnu Nagar has changed

The guideline value for Maha Vishnu Nagar has seen several revisions over the years. In 2012, the value was set at Rs 700 per sq.ft, which then dropped to Rs 469 per sq.ft in 2017. Following this, the value increased significantly to Rs 700 per sq.ft in 2023, and most recently to Rs 770 per sq.ft in 2024, marking a 10% increase from the previous year.

From 2017 to 2023, there was a notable increase of 49%. Overall, from 2012 to 2024, the guideline value has increased by 10%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Mathuranthagam

In Mathuranthagam, there are 109 streets under the Madurandakam SRO with a 2024 guideline value ranging from Rs 440 to Rs 1,480 per sq.ft. The median value is Rs 1,100 per sq.ft, placing the 2024 guideline value of Maha Vishnu Nagar below this median.

• Mahaveer Nagar: Rs 1,110 per sq.ft (2024)
• Maharishi Nagar: Rs 1,110 per sq.ft (2024)
• MANDAPAM STREET (a) NEW MANDAPAM STREET (a) POWER STATION ROAD: Rs 1,110 per sq.ft (2024)
• Maruthi Nagar: Rs 1,110 per sq.ft (2024)
• Kutcheri Street: Rs 1,100 per sq.ft (2024)
• Kushee Nagar: Rs 1,480 per sq.ft (2024)

Stamp duty and registration fee for property in Maha Vishnu Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 770 per sq.ft, the total guideline value would be Rs 7,70,000. The stamp duty at 7% would amount to Rs 53,900, while the registration fee at 2% would be Rs 15,400, totaling Rs 69,300. It is important to note that duty is charged on the higher of the guideline value or the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Maha Vishnu Nagar?

The Sub Registrar Office that covers Maha Vishnu Nagar is the Madurandakam Sub Registrar Office, located at No.53, Old Taluk Office Road, Maduranthakam-603306, Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value plays a crucial role during the registration of property transactions in Mathuranthagam. It serves as a benchmark for calculating stamp duty and registration fees, ensuring that these costs are based on a standardized value rather than the sale price alone.

When buying or selling property, it is essential to be aware of the current guideline value, as it directly influences the total expenses involved in the transaction. This ensures transparency and compliance with local regulations during property dealings.

Frequently asked questions

What is the current guideline value of Maha Vishnu Nagar?

The current guideline value of Maha Vishnu Nagar is Rs 770 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 700 per sq.ft in 2012 to Rs 469 per sq.ft in 2017, then increased to Rs 700 per sq.ft in 2023, and finally to Rs 770 per sq.ft in 2024.

What is the land classification for Maha Vishnu Nagar?

Maha Vishnu Nagar is classified as a New House Site Type -III (Approved Lay-Out) under the Madurandakam SRO.

What are the guideline values of other streets in Mathuranthagam?

Other streets in Mathuranthagam have varying guideline values, with rates ranging from Rs 440 to Rs 1,480 per sq.ft. The median value for these streets is Rs 1,100 per sq.ft.

Where is the Madurandakam Sub Registrar Office located?

The Madurandakam Sub Registrar Office is located at No.53, Old Taluk Office Road, Maduranthakam-603306, Chengalpattu registration zone.