Guideline Value for MAHESWARI NAGAR (1 TO 4 CROSS STREETS)

Maheswari Nagar (1 To 4 Cross Streets) guideline value

The current guideline value for Maheswari Nagar (1 To 4 Cross Streets) is Rs 2,970 per sq.ft, effective from 1 July 2024. This area is located in Hastinapuram village under the Pallavaram SRO, and it falls under the Residential Class I Type - I land classification.

How the guideline value of Maheswari Nagar (1 To 4 Cross Streets) has changed

The guideline value for Maheswari Nagar (1 To 4 Cross Streets) has seen several revisions over the years. Starting from the 2012 revision, the guideline value was Rs 2,700 per sq.ft. This figure decreased to Rs 1,809 per sq.ft in the 2017 revision, marking a decline of 33%. However, the value rebounded significantly to Rs 2,700 per sq.ft in the 2023 revision, and then increased by 10% to reach Rs 2,970 per sq.ft in the 2024 revision.

In summary, the guideline value has increased by 49% from 2017 to 2023, and overall, from 2012 to 2024, it has increased by 10%. The register does not have figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Hastinapuram

In Hastinapuram, there are 277 streets under the Pallavaram SRO that carry a 2024 guideline value ranging from Rs 1,650 to Rs 4,400 per sq.ft. The median value is Rs 2,970 per sq.ft, which is the same as the 2024 figure for Maheswari Nagar (1 To 4 Cross Streets).

• Maheswari Nagar 5th Street: Rs 2,970 per sq.ft (2024)
• Maheshwari Nagar Maheswari Street: Rs 2,970 per sq.ft (2024)
• Maheshwari Nagar 4th Street: Rs 2,970 per sq.ft (2024)
• Maheshwari Nagar 3rd Street: Rs 2,970 per sq.ft (2024)
• Maheshwari Nagar 2nd Street: Rs 2,970 per sq.ft (2024)
• Maheshwari Nagar 1st Street: Rs 2,970 per sq.ft (2024)

Stamp duty and registration fee for property in Maheswari Nagar (1 To 4 Cross Streets)

For a 1,000 sq.ft plot at the current guideline value of Rs 2,970 per sq.ft, the total guideline value would be Rs 29,70,000. The stamp duty at 7% would amount to Rs 2,07,900, and the registration fee at 2% would be Rs 59,400, bringing the total cost to Rs 2,67,300. 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 accurate calculations.

Which Sub Registrar Office covers Maheswari Nagar (1 To 4 Cross Streets)?

The Maheswari Nagar (1 To 4 Cross Streets) area is covered by the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone.

You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Hastinapuram. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is sold, the guideline value is compared to the sale price, and the higher of the two amounts is used to calculate the applicable duties and fees. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Maheswari Nagar (1 To 4 Cross Streets)?

The current guideline value of Maheswari Nagar (1 To 4 Cross Streets) is Rs 2,970 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,700 per sq.ft in 2012 to Rs 1,809 per sq.ft in 2017, then back to Rs 2,700 per sq.ft in 2023, and finally to Rs 2,970 per sq.ft in 2024.

What is the stamp duty rate for property transactions in this area?

The stamp duty rate for property transactions in Maheswari Nagar (1 To 4 Cross Streets) is 7% of the guideline value or the sale price, whichever is higher.

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

The Pallavaram Sub Registrar Office covers Maheswari Nagar, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044.

What is the land classification for Maheswari Nagar?

Maheswari Nagar falls under the Residential Class I Type - I land classification, indicating its suitability for residential purposes.