Guideline Value for MAHAVISHNU NAGAR

Mahavishnu Nagar guideline value

The current guideline value of Mahavishnu Nagar is Rs 1,375 per sq.ft, effective from 1 July 2024. This area is located in Tiruttani village and falls under the Thiruttani SRO. The land classification for this street is Residential Special Type - I.

How the guideline value of Mahavishnu Nagar has changed

The guideline value for Mahavishnu Nagar has undergone significant changes over the years. The 2017 revision set the value at Rs 335 per sq.ft, which was a considerable increase from previous years where the register has no figure for this street for the years 2002, 2003, 2007, 2012, and 2023. The latest revision in 2024 has raised the guideline value to Rs 1,375 per sq.ft, marking an increase of 310% from the 2017 figure.

This substantial rise reflects the changes in the real estate landscape in the area. The 2024 figure is notably higher than the 2017 value, indicating a significant shift in the guideline value for Mahavishnu Nagar.

Guideline values in Tiruttani

In Tiruttani, there are 160 streets under the Thiruttani SRO that carry a 2024 guideline value ranging from Rs 548 to Rs 1,540 per sq.ft, with a median value of Rs 825 per sq.ft. Mahavishnu Nagar's 2024 guideline value of Rs 1,375 per sq.ft is above this median.

• Ma Po Si Salai (Chetty Street To Kandapppa Nayakan Street): Rs 1,100 per sq.ft (2024)
• Ma Po Si Salai (Kamala Copy Shop Backside): Rs 1,100 per sq.ft (2024)
• Ma Po Si Salai (Kandappa Naicken Street To Kamala Rise Mill): Rs 1,100 per sq.ft (2024)
• Mettu Street: Rs 990 per sq.ft (2024)
• Mettu Street Lane: Rs 990 per sq.ft (2024)
• Lakshmanan Street: Rs 825 per sq.ft (2024)

Stamp duty and registration fee for property in Mahavishnu Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,375 per sq.ft, the total guideline value amounts to Rs 13,75,000. The stamp duty at 7% would be Rs 96,250, and the registration fee at 2% would be Rs 27,500, making the total cost for these fees Rs 1,23,750. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Mahavishnu Nagar?

The Sub Registrar Office that covers Mahavishnu Nagar is the Thiruttani Sub Registrar Office, located at No.31, Old Taluk Office Compound, Kacheri Street Opposite, Gandhi Road Main, Thiruttani-631 209, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor when buying or selling property in Tiruttani. It serves as a benchmark for determining the stamp duty and registration fees applicable during the registration process. Buyers and sellers must consider this value to ensure compliance with local regulations.

When a property is registered, the guideline value is used to calculate the applicable duties. The stamp duty and registration fees are levied based on the higher of the guideline value or the actual sale price, ensuring that the correct amount is paid to the authorities.

Frequently asked questions

What is the current guideline value of Mahavishnu Nagar?

The current guideline value of Mahavishnu Nagar is Rs 1,375 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has changed significantly from Rs 335 per sq.ft in 2017 to Rs 1,375 per sq.ft in 2024, representing an increase of 310%.

What is the land classification for Mahavishnu Nagar?

The land classification for Mahavishnu Nagar is Residential Special Type - I.

What are the stamp duty and registration fees for property in Mahavishnu Nagar?

The stamp duty is 7% of the guideline value, and the registration fee is 2%. For a property valued at Rs 13,75,000, the total fees would be Rs 1,23,750.

Where is the Sub Registrar Office for Mahavishnu Nagar located?

The Thiruttani Sub Registrar Office is located at No.31, Old Taluk Office Compound, Kacheri Street Opposite, Gandhi Road Main, Thiruttani-631 209, Chennai registration zone.