Guideline Value for MAHAVEER NAGAR

Mahaveer Nagar guideline value

The current guideline value of Mahaveer Nagar is Rs 501 per sq.ft, effective from 1 July 2024. This area is located in Thadaperumbakkam village under the Ponneri SRO and falls under the Residential Class II Type - I land classification.

How the guideline value of Mahaveer Nagar has changed

The guideline value for Mahaveer Nagar has undergone significant changes over the years. The register has no figures for the years 2002, 2003, 2007, 2012, and 2017. In the 2023 revision, the guideline value was set at Rs 200 per sq.ft, which increased to Rs 501 per sq.ft in the 2024 revision, marking a substantial increase of 151%.

The 2024 figure of Rs 501 per sq.ft aligns with the median guideline value for the 50 streets in Thadaperumbakkam under the Ponneri SRO, which ranges from Rs 500 to Rs 1,500 per sq.ft.

Guideline values in Thadaperumbakkam

In Thadaperumbakkam, the guideline values vary across different streets. The current guideline value of Mahaveer Nagar is equal to the median value of Rs 501 per sq.ft. Below are other streets in Thadaperumbakkam with their respective guideline values:

• Logambigai Avenue: Rs 600 per sq.ft (2024)
• M.Krishnaswami Avenue: Rs 501 per sq.ft (2024)
• Kotteeswara Rao Nagar: Rs 600 per sq.ft (2024)
• Kannan Garden Ext: Rs 501 per sq.ft (2024)
• Kannan Garden: Rs 501 per sq.ft (2024)
• Kailash Nagar: Rs 501 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 501 per sq.ft, the total guideline value amounts to Rs 5,01,000. The stamp duty at 7% would be Rs 35,070, and the registration fee at 2% would be Rs 10,020, totaling Rs 45,090. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Mahaveer Nagar?

The Mahaveer Nagar area falls under 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 Thadaperumbakkam

The guideline value plays a crucial role during the registration of property transactions in Thadaperumbakkam. It serves as a benchmark for calculating stamp duty and registration fees, ensuring that these costs are based on an official valuation rather than the sale price alone.

When buying or selling property, it is essential to be aware of the current guideline value, as it directly affects the financial obligations during the registration process. Buyers should ensure that they are prepared for these costs to avoid any surprises at the time of registration.

Frequently asked questions

What is the current guideline value of Mahaveer Nagar?

The current guideline value of Mahaveer Nagar is Rs 501 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed recently?

The guideline value increased from Rs 200 per sq.ft in 2023 to Rs 501 per sq.ft in 2024, which is an increase of 151%.

What are the other streets in Thadaperumbakkam?

Other streets in Thadaperumbakkam include Logambigai Avenue, M.Krishnaswami Avenue, Kotteeswara Rao Nagar, Kannan Garden Ext, Kannan Garden, and Kailash Nagar, each with varying guideline values.

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.

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, on a plot valued at Rs 5,01,000, the stamp duty would be Rs 35,070.