Guideline Value for MAHAVEER NAGAR

Mahaveer Nagar guideline value

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

How the guideline value of Mahaveer Nagar has changed

The guideline value for Mahaveer Nagar has undergone changes over the years. The register has no figures for the years 2002, 2003, 2007, 2012, and 2017. The most recent revision in 2023 set the guideline value at Rs 1,000 per sq.ft, which was then increased to Rs 1,110 per sq.ft in the 2024 revision, marking an increase of 11%.

Prior to the 2023 revision, there were no recorded figures for the street in the previous years. The 2024 figure of Rs 1,110 per sq.ft places Mahaveer Nagar above the median guideline value of Rs 1,100 per sq.ft for Mathuranthagam.

Guideline values in Mathuranthagam

In Mathuranthagam, there are 109 streets under the Madurandakam SRO, with guideline values ranging from Rs 440 to Rs 1,480 per sq.ft. The median value for these streets is Rs 1,100 per sq.ft. Here are some other streets in Mathuranthagam:

• Maha Vishnu Nagar: Rs 770 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 Mahaveer Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,110 per sq.ft, the total guideline value would be Rs 11,10,000. The stamp duty at 7% would amount to Rs 77,700, and the registration fee at 2% would be Rs 22,200, making the total cost for these fees Rs 99,900. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for further calculations.

Which Sub Registrar Office covers Mahaveer Nagar?

The Sub Registrar Office that covers Mahaveer 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 plays a crucial role in the registration process of property transactions in Mathuranthagam. It serves as the basis for calculating stamp duty and registration fees, ensuring that both the buyer and seller adhere to the legal requirements during the sale.

When a property is bought or sold, the guideline value is considered to determine the applicable taxes and fees. It is essential for both parties to be aware of the current guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Mahaveer Nagar?

The current guideline value of Mahaveer 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 2023 to Rs 1,110 per sq.ft in 2024, marking an increase of 11%. There are no recorded figures for the years 2002, 2003, 2007, 2012, and 2017.

What is the median guideline value in Mathuranthagam?

The median guideline value in Mathuranthagam is Rs 1,100 per sq.ft. Mahaveer Nagar's guideline value is above this median.

What are the stamp duty rates for Mahaveer Nagar?

The stamp duty rate for properties in Mahaveer Nagar is 7%. This is calculated based on the guideline value or the sale price, whichever is higher.

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

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