Guideline Value for Mahadevan Street, Chennai 82

Mahadevan Street, Chennai 82 guideline value

The current guideline value of Mahadevan Street, Chennai 82 is Rs 4,400 per sq.ft, effective from 1 July 2024. This street is located in Ayanavaram village under the AnnaNagar SRO and is classified as Residential Class II Type - I.

How the guideline value of Mahadevan Street, Chennai 82 has changed

Over the years, the guideline value of Mahadevan Street has seen several revisions. The 2007 revision recorded a value of Rs 1,200 per sq.ft, which increased to Rs 4,000 per sq.ft in 2012, marking a significant rise of 233%. However, in 2017, the value fell to Rs 2,680 per sq.ft, a decrease of 33%. The value then increased to Rs 4,000 per sq.ft in 2023, before reaching the current value of Rs 4,400 per sq.ft in 2024, reflecting a 10% increase.

From 2017 to 2023, there was a substantial increase of 49%. Overall, from the 2007 revision to the current 2024 value, there has been a remarkable increase of 267%. It is important to note that there are no figures available for the years 2002 and 2003 in the register for this street.

Guideline values in Ayanavaram

Ayanavaram has a total of 369 streets under the AnnaNagar SRO, with guideline values ranging from Rs 2,700 to Rs 20,000 per sq.ft. The median guideline value for these streets is Rs 4,900 per sq.ft, placing Mahadevan Street's 2024 figure below this median.

• Loganathan Street: Rs 4,400 per sq.ft (2024)
• Loco Works Scheme Ist Street, Chennai 82: Rs 4,400 per sq.ft (2024)
• Loco Works Scheme Ist Lane, Chennai 82: Rs 4,400 per sq.ft (2024)
• Loco Works Scheme 2nd Street, Chennai 82: Rs 4,400 per sq.ft (2024)
• Loco Works Scheme 2nd Lane, Chennai 82: Rs 4,400 per sq.ft (2024)
• Loco Works Main Road, Chennai 82: Rs 4,900 per sq.ft (2024)

Stamp duty and registration fee for property in Mahadevan Street, Chennai 82

For a 1,000 sq.ft plot at the current guideline value of Rs 4,400 per sq.ft, the total guideline value amounts to Rs 44,00,000. The stamp duty at 7% would be Rs 3,08,000, and the registration fee at 2% would be Rs 88,000, bringing the total cost to Rs 3,96,000. It is essential to note that the duty is charged on the higher of the guideline value and the sale price.

For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Mahadevan Street, Chennai 82?

The Sub Registrar Office that covers Mahadevan Street is the AnnaNagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur EB Office. You can find your SRO for more information.

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

The guideline value plays a crucial role during the registration process when buying or selling property in Ayanavaram. It is used to determine the stamp duty and registration fees applicable to the transaction, ensuring that the government receives the appropriate revenue from property sales.

When registering a property, buyers and sellers must be aware that the guideline value is the minimum value considered for the purpose of taxation. If the sale price exceeds the guideline value, the higher amount will be used to calculate the applicable duties and fees.

Frequently asked questions

What is the current guideline value of Mahadevan Street, Chennai 82?

The current guideline value of Mahadevan Street, Chennai 82 is Rs 4,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 1,200 per sq.ft in 2007 to Rs 4,400 per sq.ft in 2024, reflecting an overall increase of 267% over the years.

What is the registration office for Mahadevan Street, Chennai 82?

The registration office for Mahadevan Street is the AnnaNagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.

How is stamp duty calculated for properties in Ayanavaram?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, a property valued at Rs 44,00,000 would incur a stamp duty of Rs 3,08,000 at a rate of 7%.

What is the land classification of Mahadevan Street?

Mahadevan Street is classified as Residential Class II Type - I, indicating its designation for residential use under the guidelines set by the local authorities.