Guideline Value for Mahadevan Nagar

Mahadevan Nagar guideline value

The current guideline value for Mahadevan Nagar is Rs 850 per sq.ft, effective from 1 July 2024. This area is located in Selaiyur village, under the Selaiyur SRO, and is classified as Residential Class V Type - I.

How the guideline value of Mahadevan Nagar has changed

The guideline value for Mahadevan Nagar has undergone several revisions over the years. The earliest recorded figure is from 2007, when the value was Rs 200 per sq.ft. This increased significantly to Rs 800 per sq.ft in 2012, but then saw a decrease to Rs 536 per sq.ft in 2017. Following this, the value rose sharply to Rs 800 per sq.ft in 2023, and finally to Rs 850 per sq.ft in the 2024 revision.

In terms of percentage changes, the guideline value increased by 300% from 2007 to 2012, decreased by 33% from 2012 to 2017, and then increased by 49% from 2017 to 2023. The change from 2023 to 2024 represents a 6% increase. The register has no figure for this street in 2002 and 2003.

Guideline values in Selaiyur

In Selaiyur, there are 478 streets under the Selaiyur SRO, with guideline values ranging from Rs 850 to Rs 6,500 per sq.ft as of 2024. The median guideline value in this area is Rs 2,200 per sq.ft, placing Mahadevan Nagar's 2024 figure below that median.

• Madura Kavi Street: Rs 2,400 per sq.ft (2024)
• Madras Christian College: Rs 850 per sq.ft (2024)
• Mahalakshmi Street: Rs 3,750 per sq.ft (2024)
• Madha Koil Street: Rs 1,600 per sq.ft (2024)
• Madambakkam Camp Road: Rs 2,200 per sq.ft (2024)
• LIC Colony: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Mahadevan Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 850 per sq.ft, the total guideline value amounts to Rs 8,50,000. The stamp duty at 7% would be Rs 59,500, and the registration fee at 2% would be Rs 17,000, bringing the total to Rs 76,500. 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 Mahadevan Nagar?

The Sub Registrar Office covering Mahadevan 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 Selaiyur

The guideline value is a crucial factor in property transactions in Selaiyur. It is used to determine the stamp duty and registration fees applicable when buying or selling property. This value is set by the Registration Department and is subject to periodic revisions to reflect changes in the market.

When a property is registered, the guideline value or the sale price is considered, whichever is higher, to calculate the applicable duties. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Mahadevan Nagar?

The current guideline value of Mahadevan Nagar is Rs 850 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 200 per sq.ft in 2007 to Rs 850 per sq.ft in 2024, with various increases and decreases through the years.

What are the stamp duty and registration fees for property in Mahadevan Nagar?

For a 1,000 sq.ft plot at the current guideline value, the total stamp duty and registration fees would amount to Rs 76,500, calculated based on the guideline value of Rs 8,50,000.

Which Sub Registrar Office covers Mahadevan Nagar?

The Selaiyur Sub Registrar Office covers Mahadevan Nagar, located at No.36, Bharathmatha Salai, East Tambaram, Chennai - 600 073.

Where can I find more information about guideline values in Selaiyur?

For more information about guideline values in Selaiyur, you can refer to the Registration Department's guideline value register or visit the Selaiyur SRO.