Guideline Value for MAHESWARI NAGAR 5TH STREET

Maheswari Nagar 5th Street guideline value

The current guideline value of Maheswari Nagar 5th Street is Rs 2,970 per sq.ft, effective from 1 July 2024. This street is located in Hastinapuram village under the Pallavaram SRO, classified as Residential Class I Type - I.

How the guideline value of Maheswari Nagar 5th Street has changed

The guideline value for Maheswari Nagar 5th Street has undergone several revisions over the years. The 2012 revision set the value at Rs 2,700 per sq.ft, which was then reduced to Rs 1,809 per sq.ft in the 2017 revision. Following this, the 2023 revision increased the value to Rs 2,700 per sq.ft, and the latest revision in 2024 has raised it to Rs 2,970 per sq.ft. Notably, there are no figures available for the revisions in 2002, 2003, and 2007 for this street.

From 2012 to 2017, the guideline value decreased by 33%. However, from 2017 to 2023, there was a significant increase of 49%. The change from 2023 to 2024 reflects a 10% increase, bringing the overall change from 2012 to 2024 to a total increase of 10%.

Guideline values in Hastinapuram

In Hastinapuram, there are 277 streets under the Pallavaram SRO, with guideline values ranging from Rs 1,650 to Rs 4,400 per sq.ft. The median guideline value for these streets is Rs 2,970 per sq.ft, which is the same as the current value for Maheswari Nagar 5th Street.

• Maheswari Nagar (1 To 4 Cross Streets): 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 5th Street

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

Which Sub Registrar Office covers Maheswari Nagar 5th Street?

The Maheswari Nagar 5th Street falls under 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 plays a crucial role in the registration process of property transactions in Hastinapuram. It serves as a reference point for determining the minimum value at which a property can be registered, ensuring that the transaction is documented at a fair value.

When buying or selling property, the guideline value is used to calculate the applicable stamp duty and registration fees. This helps in maintaining transparency and accountability in real estate transactions, protecting both buyers and sellers.

Frequently asked questions

What is the current guideline value of Maheswari Nagar 5th Street?

The current guideline value of Maheswari Nagar 5th Street 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 2023 to Rs 2,970 per sq.ft in 2024, marking a 10% increase. It decreased from Rs 2,700 in 2012 to Rs 1,809 in 2017, then increased to Rs 2,700 in 2023.

What is the land classification for Maheswari Nagar 5th Street?

Maheswari Nagar 5th Street is classified as Residential Class I Type - I. This classification is important for determining the applicable guidelines and regulations for property transactions.

Where can I find the registration office for Maheswari Nagar 5th Street?

The registration office for Maheswari Nagar 5th Street is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone.

How is stamp duty calculated for properties in Maheswari Nagar?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, for a property valued at Rs 29,70,000, the stamp duty at 7% would be Rs 2,07,900.