Guideline Value for Mahatama Nagar

Mahatama Nagar guideline value

The current guideline value of Mahatama Nagar, located in Anakaputhur village under the Pammal SRO, is Rs 2,350 per sq.ft. This value is effective from 1 July 2024 and falls under the Residential Class III Type - I land classification.

How the guideline value of Mahatama Nagar has changed

Over the years, the guideline value of Mahatama Nagar has seen significant revisions. In 2003, the guideline value was Rs 216 per sq.ft, which increased to Rs 300 per sq.ft in 2007. This marked a change of +39%. The value then surged dramatically to Rs 1,407 per sq.ft in 2017, reflecting a change of +369%. Following this, the 2023 revision set the value at Rs 2,099 per sq.ft, which was a +49% increase from the previous revision. The most recent revision in 2024 has raised the value to Rs 2,350 per sq.ft, a rise of +12% from 2023.

It is important to note that there are no figures available for the years 2002 and 2012 for this street. Overall, from 2003 to 2024, the guideline value has increased by +988%.

Guideline values in Anakaputhur

Anakaputhur village has a total of 501 streets under the Pammal SRO that carry a guideline value for 2024, ranging from Rs 1,320 to Rs 4,640 per sq.ft. The median value for these streets is Rs 1,980 per sq.ft, placing Mahatama Nagar's 2024 figure above that median.

• Mahathma Nagar 2nd Street: Rs 2,350 per sq.ft (2024)
• Mahathma Nagr Ist Street: Rs 2,350 per sq.ft (2024)
• Madha Nagar: Rs 1,760 per sq.ft (2024)
• L.I.C Colony Meelamegam Street: Rs 2,530 per sq.ft (2024)
• L.I.C Colony Kothandapani Street: Rs 2,530 per sq.ft (2024)
• LIC Colony 7th Street: Rs 2,530 per sq.ft (2024)

Stamp duty and registration fee for property in Mahatama Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 2,350 per sq.ft, the total guideline value would be Rs 23,50,000. The stamp duty at 7% would amount to Rs 1,64,500, while the registration fee at 2% would be Rs 47,000, bringing the total to Rs 2,11,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Mahatama Nagar?

The Sub Registrar Office that covers Mahatama Nagar is the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, in the Chengalpattu registration zone. You can find your SRO for further assistance.

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

The guideline value is a crucial factor in property transactions in Anakaputhur. It serves as a benchmark for determining the minimum value at which properties can be registered. When buying or selling property, the guideline value ensures that the transaction is recorded at a fair value, which is essential for taxation purposes.

During the registration process, the guideline value is used to calculate the stamp duty and registration fees. Buyers need to be aware that these fees are calculated based on the higher of the guideline value or the actual sale price of the property.

Frequently asked questions

What is the current guideline value of Mahatama Nagar?

The current guideline value of Mahatama Nagar is Rs 2,350 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 216 per sq.ft in 2003 to Rs 2,350 per sq.ft in 2024, reflecting an overall increase of +988% over the years.

What is the land classification of Mahatama Nagar?

Mahatama Nagar falls under the Residential Class III Type - I land classification, which indicates its suitability for residential development.

What are the stamp duty rates applicable in Mahatama Nagar?

The stamp duty rate applicable in Mahatama Nagar is 7% of the guideline value or sale price, whichever is higher. The registration fee is 2% of the same value.

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

The Sub Registrar Office for Mahatama Nagar is located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075. This office handles all registrations for properties in the area.