Guideline Value for MAHESWAR NAGAR

Maheswar Nagar guideline value

The current guideline value of Maheswar Nagar, located in Chitthalapakkam village under the Selaiyur SRO, is Rs 2,900 per sq.ft, effective from 1 July 2024. This area is classified as Industries Type - I.

How the guideline value of Maheswar Nagar has changed

The guideline value for Maheswar Nagar has seen several revisions over the years. In 2012, the value was Rs 2,700 per sq.ft, which then decreased to Rs 1,809 per sq.ft in 2017. Following this, the value increased significantly to Rs 2,700 per sq.ft in 2023, and currently stands at Rs 2,900 per sq.ft as of the 2024 revision.

Between the revisions, there have been notable changes. From 2012 to 2017, the value decreased by 33%. However, from 2017 to 2023, it increased by 49%. The change from 2023 to 2024 is a 7% increase. Overall, from 2012 to 2024, the guideline value has increased by 7%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Chitthalapakkam

In Chitthalapakkam, there are 107 streets under the Selaiyur SRO that carry a 2024 guideline value ranging from Rs 1,300 to Rs 5,000 per sq.ft, with a median value of Rs 2,900 per sq.ft. The guideline value for Maheswar Nagar aligns with this median.

• Maigai Vinayagar Koil Street: Rs 2,900 per sq.ft (2024)
• Mambakkam Main Road: Rs 3,300 per sq.ft (2024)
• Madambakkam Main Road: Rs 2,850 per sq.ft (2024)
• Manju Foundation Street Synnot: Rs 3,180 per sq.ft (2024)
• Manoranjitham Nagar: Rs 3,300 per sq.ft (2024)
• M.G.R. Street: Rs 2,700 per sq.ft (2024)

Stamp duty and registration fee for property in Maheswar Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 2,900 per sq.ft, the total guideline value amounts to Rs 29,00,000. The stamp duty at 7% would be Rs 2,03,000, and the registration fee at 2% would be Rs 58,000, bringing the total to Rs 2,61,000. 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 details.

Which Sub Registrar Office covers Maheswar Nagar?

The Sub Registrar Office that covers Maheswar Nagar is the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role during the registration process when buying or selling property in Chitthalapakkam. It serves as a benchmark for determining the minimum value on which stamp duty and registration fees are calculated. Buyers and sellers must be aware of the current guideline value to ensure compliance with legal requirements.

When a property is sold, the guideline value is compared with the sale price. The higher of the two values is used to calculate the applicable stamp duty and registration fees. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Maheswar Nagar?

The current guideline value of Maheswar Nagar is Rs 2,900 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed multiple times, starting from Rs 2,700 per sq.ft in 2012, decreasing to Rs 1,809 per sq.ft in 2017, and then rising to Rs 2,700 per sq.ft in 2023 before reaching Rs 2,900 per sq.ft in 2024.

What are the other streets in Chitthalapakkam with their guideline values?

Other streets in Chitthalapakkam include Maigai Vinayagar Koil Street at Rs 2,900 per sq.ft, Mambakkam Main Road at Rs 3,300 per sq.ft, and Madambakkam Main Road at Rs 2,850 per sq.ft, among others.

How is stamp duty calculated in Maheswar Nagar?

Stamp duty in Maheswar Nagar is calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 29,00,000, the stamp duty would be Rs 2,03,000 at a rate of 7%.

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

The Sub Registrar Office for Maheswar Nagar is the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai, Chennai - 600 073. You can find more details by visiting the appropriate link.