Guideline Value for Mahanathi Nagar

Mahanathi Nagar guideline value

The current guideline value of Mahanathi Nagar is Rs 700 per sq.ft, effective from 1 July 2024. This street is located in Kayirambedu village, under the Chengleput Joint II SRO, and is classified as Residential Special Type - II.

How the guideline value of Mahanathi Nagar has changed

Over the years, the guideline value for Mahanathi Nagar has undergone several revisions. The earliest recorded figure in 2007 was Rs 210 per sq.ft, which increased significantly to Rs 700 per sq.ft in 2012. However, it saw a decrease to Rs 469 per sq.ft in 2017 before returning to Rs 700 per sq.ft in both 2023 and the latest revision in 2024, showing no change between these two years. The register has no figure for this street in 2002 and 2003.

From 2017 to 2023, there was a substantial increase of 49%, while the change from 2012 to 2017 was a decrease of 33%. Notably, the guideline value increased by 233% from 2007 to 2012 and remained constant from 2023 to 2024, resulting in an overall increase of 233% from 2007 to 2024.

Guideline values in Kayirambedu

In Kayirambedu, there are 120 streets under the Chengleput Joint II SRO that carry a 2024 guideline value ranging from Rs 400 to Rs 3,550 per sq.ft, with the median value being Rs 700 per sq.ft. Mahanathi Nagar's 2024 figure aligns with this median.

• Madhavi Nagar: Rs 700 per sq.ft (2024)
• Lumina: Rs 1,001 per sq.ft (2024)
• M.G.Nagar: Rs 2,389 per sq.ft (2024)
• M.G. Nagar Extension: Rs 2,389 per sq.ft (2024)
• K R Garden: Rs 700 per sq.ft (2024)
• K.R.C Nagar: Rs 700 per sq.ft (2024)

Stamp duty and registration fee for property in Mahanathi Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 700 per sq.ft, the total guideline value amounts to Rs 7,00,000. The stamp duty at 7% would be Rs 49,000, and the registration fee at 2% would be Rs 14,000, bringing the total to Rs 63,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for precise calculations.

Which Sub Registrar Office covers Mahanathi Nagar?

The Sub Registrar Office that covers Mahanathi Nagar is the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002, 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 Kayirambedu

The guideline value serves as a benchmark for property transactions in Kayirambedu. It is used to determine the stamp duty and registration fees payable during the sale or purchase of property, ensuring that these fees are calculated based on an official valuation.

When registering a property, the buyer must pay the stamp duty based on the higher amount between the guideline value and the sale price. This ensures that the government receives appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Mahanathi Nagar?

The current guideline value of Mahanathi Nagar is Rs 700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed several times, starting at Rs 210 per sq.ft in 2007, reaching Rs 700 per sq.ft in 2012, dropping to Rs 469 per sq.ft in 2017, and returning to Rs 700 per sq.ft in both 2023 and 2024.

What are the guideline values for other streets in Kayirambedu?

Other streets in Kayirambedu have varying guideline values, with rates ranging from Rs 400 to Rs 3,550 per sq.ft. The median value for these streets is Rs 700 per sq.ft, which is the same as Mahanathi Nagar's current guideline value.

How is stamp duty calculated for properties in Mahanathi Nagar?

Stamp duty for properties in Mahanathi Nagar is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft property at Rs 700 per sq.ft would incur a stamp duty of Rs 49,000.

Where can I find the Sub Registrar Office for Mahanathi Nagar?

The Sub Registrar Office for Mahanathi Nagar is the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002. You can find your SRO for more details.