Guideline Value for Ma.Po.Si.Nagar

Ma.Po.Si.Nagar guideline value

The current guideline value of Ma.Po.Si.Nagar is Rs 2,970 per sq.ft, effective from 1 July 2024. This area is located in Hastinapuram village under the Pallavaram SRO and falls under the Residential Class I Type - I land classification.

How the guideline value of Ma.Po.Si.Nagar has changed

The guideline value for Ma.Po.Si.Nagar has undergone several revisions over the years. The earliest recorded value was Rs 525 per sq.ft in 2007, which saw a significant increase to Rs 2,700 per sq.ft in 2012. However, this figure dropped to Rs 1,809 per sq.ft in 2017 before rising again to Rs 2,700 per sq.ft in 2023. The latest revision in 2024 set the guideline value at Rs 2,970 per sq.ft.

In terms of percentage changes, the value increased by 414% from 2007 to 2012, decreased by 33% from 2012 to 2017, and then increased by 49% from 2017 to 2023. The most recent change from 2023 to 2024 reflects a 10% increase. Overall, from 2007 to 2024, the guideline value has risen by 466%. The register has no figures for the years 2002 and 2003 for this street.

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 is Rs 2,970 per sq.ft, which is the same as the current value for Ma.Po.Si.Nagar.

• Maragatham 1st Cross Street: Rs 3,300 per sq.ft (2024)
• Maragatham 1st Main Road: Rs 3,300 per sq.ft (2024)
• Maragatham 2nd Cross Street: Rs 3,300 per sq.ft (2024)
• Maragatham 2nd Main Road: Rs 3,300 per sq.ft (2024)
• Maragatham 3rd Cross Street: Rs 2,970 per sq.ft (2024)
• Maragatham 3rd Main Road: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Ma.Po.Si.Nagar

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, making the total charges Rs 2,67,300. It is important to note that 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 information.

Which Sub Registrar Office covers Ma.Po.Si.Nagar?

The Sub Registrar Office that covers Ma.Po.Si.Nagar is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, in the Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value is a crucial factor during the registration of property transactions in Hastinapuram. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is recorded accurately in the official records.

When buying or selling property, the guideline value helps in calculating the applicable stamp duty and registration fees. This ensures that both buyers and sellers are aware of the financial implications of their transactions, providing transparency in the property market.

Frequently asked questions

What is the current guideline value of Ma.Po.Si.Nagar?

The current guideline value of Ma.Po.Si.Nagar 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 525 per sq.ft in 2007 to Rs 2,970 per sq.ft in 2024, reflecting an overall increase of 466% over the years.

What are the stamp duty and registration fees for property in Ma.Po.Si.Nagar?

For a 1,000 sq.ft plot, the total guideline value is Rs 29,70,000, leading to a stamp duty of Rs 2,07,900 and a registration fee of Rs 59,400, totaling Rs 2,67,300.

Which Sub Registrar Office covers Ma.Po.Si.Nagar?

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

What is the land classification for Ma.Po.Si.Nagar?

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