Guideline Value for MAHATMA GANDHI NAGAR

Mahatma Gandhi Nagar guideline value

The current guideline value of Mahatma Gandhi Nagar, located in Venmanamputhur village, is Rs 200 per sq.ft. This value is effective from 1 July 2024 and falls under the Residential Class II Type - II land classification, as per the Tiruvallur Joint 1 SRO.

How the guideline value of Mahatma Gandhi Nagar has changed

The guideline value for Mahatma Gandhi Nagar has undergone several revisions over the years. The earliest available revision is from 2012, which set the value at Rs 200 per sq.ft. In 2017, the value was revised to Rs 134 per sq.ft, marking a decrease of 33%. However, from 2017 to 2023, the value increased by 49%, bringing it back to Rs 200 per sq.ft. The 2024 revision maintains this figure, showing no change from the previous year.

It is important to note that there are no figures available for the years 2002, 2003, and 2007 in the register for Mahatma Gandhi Nagar. Overall, from the 2012 revision to the 2024 revision, the guideline value has remained unchanged at Rs 200 per sq.ft.

Guideline values in Venmanamputhur

In Venmanamputhur, there are 54 streets under the Tiruvallur Joint 1 SRO that carry a 2024 guideline value ranging from Rs 200 to Rs 400 per sq.ft. The median value is Rs 200 per sq.ft, which is equal to the guideline value of Mahatma Gandhi Nagar.

• Manickam Nagar: Rs 200 per sq.ft (2024)
• Masila Mani Nagar: Rs 200 per sq.ft (2024)
• M.E. Nagar (S.No.179/1.2): Rs 200 per sq.ft (2024)
• Lakshi Amman Nagar: Rs 250 per sq.ft (2024)
• K.G.R. Nagar & Annex-(S.No.392.377/2): Rs 200 per sq.ft (2024)
• K.G.R. Aavin Nagar: Rs 200 per sq.ft (2024)

Stamp duty and registration fee for property in Mahatma Gandhi Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 200 per sq.ft, the total guideline value would be Rs 2,00,000. The stamp duty at 7% would amount to Rs 14,000, and the registration fee at 2% would be Rs 4,000, bringing the total fees to Rs 18,000. It is important to note that the 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 Mahatma Gandhi Nagar?

The Mahatma Gandhi Nagar area falls under the Tiruvallur Joint 1 Sub Registrar Office, located at No.201, J.n.road, Taluk Office Compound, Thiruvallur-602001, Chennai registration zone. You can find your SRO for more details.

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

The guideline value is a crucial factor in property transactions as it determines the minimum value at which a property can be registered. When buying or selling property in Venmanamputhur, the guideline value is used to calculate the stamp duty and registration fees that need to be paid at the time of registration.

It is essential for buyers and sellers to be aware of the guideline value, as it ensures transparency in the transaction process and helps in avoiding disputes related to property valuation during registration.

Frequently asked questions

What is the current guideline value of Mahatma Gandhi Nagar?

The current guideline value of Mahatma Gandhi Nagar is Rs 200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 200 per sq.ft in 2012 to Rs 134 per sq.ft in 2017, then back to Rs 200 per sq.ft in 2023 and 2024, with no figures available for 2002, 2003, and 2007.

What is the land classification for Mahatma Gandhi Nagar?

Mahatma Gandhi Nagar falls under the Residential Class II Type - II land classification as per the guidelines of the Tiruvallur Joint 1 SRO.

How is stamp duty calculated for properties in Mahatma Gandhi Nagar?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at Rs 200 per sq.ft would incur a stamp duty of Rs 14,000.

Where can I find the Sub Registrar Office for Mahatma Gandhi Nagar?

The Sub Registrar Office for Mahatma Gandhi Nagar is located at No.201, J.n.road, Taluk Office Compound, Thiruvallur-602001, Chennai registration zone.