Guideline Value for MAHAVEER NAGAR

Mahaveer Nagar guideline value

The current guideline value of Mahaveer Nagar is Rs 300 per sq.ft, effective from 1 July 2024. This area is located in Anupampattu village, under the Ponneri SRO, and is classified as Residential Class II Type - I.

How the guideline value of Mahaveer Nagar has changed

In the 2012 revision, the guideline value was set at Rs 300 per sq.ft. This remained unchanged until the 2017 revision, where it decreased to Rs 201 per sq.ft, marking a decline of 33%. However, the value increased significantly in the 2023 revision to Rs 300 per sq.ft, reflecting a 49% rise from the 2017 figure. The 2024 revision also maintains this value at Rs 300 per sq.ft, resulting in no change from the previous year.

It is important to note that there are no guideline value figures available for Mahaveer Nagar in the revisions from 2002, 2003, and 2007. The overall change from the 2012 revision to the 2024 revision shows no net change, as the value has returned to Rs 300 per sq.ft.

Guideline values in Anupampattu

In Anupampattu, there are 42 streets under the Ponneri SRO that carry a 2024 guideline value ranging from Rs 300 to Rs 500 per sq.ft. The median value of these streets is Rs 300 per sq.ft, which is equal to the 2024 figure for Mahaveer Nagar.

• Mahalakshmi Nagar: Rs 300 per sq.ft (2024)
• Medthina City: Rs 300 per sq.ft (2024)
• Meenakshi Amman Nagr: Rs 300 per sq.ft (2024)
• Lakshmi Nagar: Rs 300 per sq.ft (2024)
• M R Garden: Rs 300 per sq.ft (2024)
• Msv Nagar: Rs 400 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 300 per sq.ft, the total guideline value amounts to Rs 3,00,000. The stamp duty at 7% would be Rs 21,000, and the registration fee at 2% would be Rs 6,000, bringing the total to Rs 27,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

You can use the stamp duty and registration fee calculator for more accurate calculations.

Which Sub Registrar Office covers Mahaveer Nagar?

The Sub Registrar Office that covers Mahaveer Nagar is the Ponneri Sub Registrar Office, located at 9/5, Taluk Office Road, Ponneri, Chennai-601204. You can find your SRO for more information.

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

The guideline value plays a crucial role during the registration of property transactions in Anupampattu. It is used to determine the stamp duty and registration fees that need to be paid, ensuring that the value is consistent with government standards.

When buying or selling property, the guideline value is considered to avoid undervaluation. This ensures that the transaction is recorded at a value that reflects the current market conditions as per the government’s assessment.

Frequently asked questions

What is the current guideline value of Mahaveer Nagar?

The current guideline value of Mahaveer Nagar is Rs 300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen various changes, with the most recent revisions showing a return to Rs 300 per sq.ft from Rs 201 per sq.ft in 2017. The value has remained stable at Rs 300 per sq.ft since 2012, with no overall change from 2012 to 2024.

What is the land classification of Mahaveer Nagar?

Mahaveer Nagar is classified as Residential Class II Type - I, which indicates its suitability for residential development.

Where can I find the Ponneri Sub Registrar Office?

The Ponneri Sub Registrar Office is located at 9/5, Taluk Office Road, Ponneri, Chennai-601204. This office handles registrations for properties in Mahaveer Nagar.

How is stamp duty calculated in Mahaveer Nagar?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a plot of 1,000 sq.ft at the current rate, the total guideline value would be Rs 3,00,000, leading to a stamp duty of Rs 21,000.