Guideline Value for MAHARISHI NAGAR

Maharishi Nagar guideline value

The current guideline value of Maharishi Nagar in Mathuranthagam village is Rs 1,110 per sq.ft, effective from 1 July 2024. This area falls under the Madurandakam Sub Registrar Office and is classified as Residential Special Type - I.

How the guideline value of Maharishi Nagar has changed

The guideline value of Maharishi Nagar has seen several revisions over the years. In 2012, the figure was Rs 1,000 per sq.ft, which then dropped to Rs 670 per sq.ft in 2017. The value increased significantly to Rs 1,000 per sq.ft in 2023, and currently stands at Rs 1,110 per sq.ft as of the 2024 revision. The register has no figure for this street in 2002, 2003, and 2007.

From 2012 to 2017, there was a decrease of 33%. However, from 2017 to 2023, the value increased by 49%. The overall change from 2012 to 2024 reflects an increase of 11%.

Guideline values in Mathuranthagam

In Mathuranthagam, there are 109 streets under the Madurandakam SRO that carry a 2024 guideline value ranging from Rs 440 to Rs 1,480 per sq.ft, with a median value of Rs 1,100 per sq.ft. Maharishi Nagar's 2024 figure is above this median.

• Mahaveer Nagar: Rs 1,110 per sq.ft (2024)
• Maha Vishnu Nagar: Rs 770 per sq.ft (2024)
• MANDAPAM STREET (a) NEW MANDAPAM STREET (a) POWER STATION ROAD: 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)
• Maruthi Nagar: Rs 1,110 per sq.ft (2024)

Stamp duty and registration fee for property in Maharishi Nagar

For a 1,000 sq.ft plot at the current rate of Rs 1,110 per sq.ft, the guideline value amounts to Rs 11,10,000. The stamp duty at 7% would be Rs 77,700, and the registration fee at 2% would be Rs 22,200, totaling Rs 99,900. 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 details.

Which Sub Registrar Office covers Maharishi Nagar?

The Sub Registrar Office that covers Maharishi 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 information.

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

The guideline value is crucial when buying or selling property in Mathuranthagam. It serves as a benchmark for determining the stamp duty and registration fees applicable during the transaction. Buyers and sellers must be aware of this value to ensure compliance with local regulations.

When registering a property, the guideline value is used to calculate the applicable fees, which are based on the higher of the guideline value or the actual sale price. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Maharishi Nagar?

The current guideline value of Maharishi Nagar is Rs 1,110 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,000 per sq.ft in 2012 to Rs 670 per sq.ft in 2017, then increased to Rs 1,000 per sq.ft in 2023, and is currently Rs 1,110 per sq.ft as of 2024.

What is the land classification of Maharishi Nagar?

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

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

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

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

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 11,10,000, the stamp duty would be Rs 77,700 at a rate of 7%.