Guideline Value for MAHESWARI NAGAR

Maheswari Nagar guideline value

The current guideline value of Maheswari Nagar is Rs 550 per sq.ft, effective from 1 July 2024. This locality is situated in Vallur village under the Thiruvottiyur SRO and is classified as Residential Class I Type - I.

How the guideline value of Maheswari Nagar has changed

In the 2017 revision, the guideline value was Rs 335 per sq.ft. This increased significantly to Rs 500 per sq.ft in the 2023 revision, marking a change of 49%. The most recent revision in 2024 saw the guideline value rise to Rs 550 per sq.ft, which is a 10% increase from the 2023 figure. There are no figures available for the revisions in 2002, 2003, 2007, and 2012 for this street.

Overall, from the 2017 revision to the 2024 revision, the guideline value has increased by 64%. This substantial increase reflects the changes made over the years, culminating in the current value of Rs 550 per sq.ft.

Guideline values in Vallur

In Vallur, there are 75 streets under the Thiruvottiyur SRO that carry a 2024 guideline value ranging from Rs 220 to Rs 551 per sq.ft, with a median value of Rs 220 per sq.ft. Maheswari Nagar's 2024 figure of Rs 550 per sq.ft is above this median.

• Mahaveer Nagar: Rs 550 per sq.ft (2024)
• Mahalakshmi Nagar: Rs 220 per sq.ft (2024)
• Maruthi Nagar: Rs 330 per sq.ft (2024)
• Maruthi Puram: Rs 220 per sq.ft (2024)
• M.C.Raja Street: Rs 220 per sq.ft (2024)
• Lakshmi Avenue: Rs 550 per sq.ft (2024)

Stamp duty and registration fee for property in Maheswari Nagar

For a 1,000 sq.ft plot at the current rate of Rs 550 per sq.ft, the guideline value totals Rs 5,50,000. The stamp duty at 7% would be Rs 38,500, and the registration fee at 2% would be Rs 11,000, bringing the total to Rs 49,500. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Maheswari Nagar?

The Sub Registrar Office that covers Maheswari Nagar is the Thiruvottiyur Sub Registrar Office, located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019. You can find your SRO for additional information.

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

The guideline value plays a crucial role in property transactions in Vallur. It is used to determine the stamp duty and registration fees applicable when registering a property sale, ensuring that the government receives the appropriate revenue from property transactions.

When buying or selling property, the guideline value is assessed to ensure compliance with legal requirements. It serves as a benchmark for the value of the property, helping both buyers and sellers understand the financial implications of their transactions.

Frequently asked questions

What is the current guideline value of Maheswari Nagar?

The current guideline value of Maheswari Nagar is Rs 550 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 335 per sq.ft in 2017 to Rs 500 per sq.ft in 2023, and then to Rs 550 per sq.ft in 2024. This represents an overall increase of 64% from 2017 to 2024.

What are the other streets in Vallur and their guideline values?

Other streets in Vallur include Mahaveer Nagar at Rs 550 per sq.ft, Mahalaxmi Nagar at Rs 220 per sq.ft, Maruthi Nagar at Rs 330 per sq.ft, Maruthi Puram at Rs 220 per sq.ft, M.C.Raja Street at Rs 220 per sq.ft, and Lakshmi Avenue at Rs 550 per sq.ft.

What are the stamp duty and registration fees for properties in Maheswari Nagar?

For a 1,000 sq.ft plot at the current guideline value of Rs 5,50,000, the stamp duty would be Rs 38,500 and the registration fee would be Rs 11,000, totaling Rs 49,500.

Which office handles registrations for Maheswari Nagar?

The Thiruvottiyur Sub Registrar Office handles registrations for Maheswari Nagar, located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019.