Guideline Value for MAHAVEER NAGAR

Mahaveer Nagar guideline value

The current guideline value of Mahaveer Nagar is Rs 550 per sq.ft, effective from 1 July 2024. This street is located in Vallur village under the Thiruvottiyur SRO, classified as Residential Class I Type - I.

How the guideline value of Mahaveer Nagar has changed

The guideline value for Mahaveer Nagar has seen significant changes over the years. In the 2017 revision, the value was Rs 335 per sq.ft. This figure increased to Rs 500 per sq.ft in the 2023 revision, marking a 49% rise. The most recent revision in 2024 set the value at Rs 550 per sq.ft, which is a 10% increase from the previous year.

There are no figures available for Mahaveer Nagar in the revisions from 2002, 2003, 2007, and 2012. Overall, from 2017 to 2024, the guideline value has increased by 64%.

Guideline values in Vallur

In Vallur, there are 75 streets under the Thiruvottiyur SRO that carry a 2024 guideline value, ranging from Rs 220 to Rs 551 per sq.ft. The median guideline value in this village is Rs 220 per sq.ft, and Mahaveer Nagar's 2024 figure of Rs 550 per sq.ft is above this median.

• Maheswari Nagar: Rs 550 per sq.ft (2024)
• Mahalakshmi Nagar: Rs 220 per sq.ft (2024)
• Maruthi Nagar: Rs 330 per sq.ft (2024)
• Maruthi Puram: Rs 220 per sq.ft (2024)
• M.C.Raja Street: Rs 220 per sq.ft (2024)
• Lakshmi Avenue: Rs 550 per sq.ft (2024)

Stamp duty and registration fee for property in Mahaveer Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 550 per sq.ft, the total guideline value would be Rs 5,50,000. The stamp duty at 7% would amount to Rs 38,500, and the registration fee at 2% would be Rs 11,000, making the total fees together Rs 49,500. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

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

Which Sub Registrar Office covers Mahaveer Nagar?

The Mahaveer Nagar area falls under the jurisdiction of the Thiruvottiyur Sub Registrar Office, located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019. You can find your SRO for more information.

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

The guideline value plays a crucial role in property transactions in Vallur. It is used to determine the stamp duty and registration fees that must be paid during the registration of a property. Buyers and sellers must be aware of the current guideline value to ensure compliance with local regulations.

When registering a property, the guideline value is compared with the sale price, and the higher of the two is used to calculate the applicable duties and fees. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Mahaveer Nagar?

The current guideline value of Mahaveer Nagar is Rs 550 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 335 per sq.ft in 2017 to Rs 500 per sq.ft in 2023, and then to Rs 550 per sq.ft in 2024. Overall, this represents a 64% increase from 2017 to 2024.

What is the median guideline value in Vallur?

The median guideline value in Vallur is Rs 220 per sq.ft. Mahaveer Nagar's guideline value is above this median.

What are the stamp duty and registration fees for Mahaveer Nagar?

For a 1,000 sq.ft plot at the current guideline value, the total guideline value would be Rs 5,50,000. The stamp duty would be Rs 38,500 and the registration fee would be Rs 11,000, totaling Rs 49,500.

Which office handles property registrations in Mahaveer Nagar?

The Thiruvottiyur Sub Registrar Office handles property registrations in Mahaveer Nagar, located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019.