Guideline Value for Mahathma Nagar 2nd Street

Mahathma Nagar 2nd Street guideline value

The current guideline value of Mahathma Nagar 2nd Street is Rs 2,350 per sq.ft, effective from 1 July 2024. This street is located in Anakaputhur village, which falls under the Pammal SRO. The land classification for this area is Residential Class III Type - I.

How the guideline value of Mahathma Nagar 2nd Street has changed

The guideline value for Mahathma Nagar 2nd Street has undergone several revisions over the years. The oldest available figure is from the 2017 revision, which recorded a guideline value of Rs 1,407 per sq.ft. This increased significantly to Rs 2,099 per sq.ft in the 2023 revision, marking a 49% rise. The latest revision in 2024 has set the value at Rs 2,350 per sq.ft, reflecting a 12% increase from the previous year.

Overall, from the 2017 revision to the 2024 revision, the guideline value has increased by 67%. It is important to note that there are no available figures for this street in the revisions from 2002, 2003, 2007, and 2012.

Guideline values in Anakaputhur

In Anakaputhur, there are 501 streets under the Pammal SRO that carry a 2024 guideline value, ranging from Rs 1,320 to Rs 4,640 per sq.ft. The median guideline value for these streets is Rs 1,980 per sq.ft, placing Mahathma Nagar 2nd Street's 2024 figure above this median.

• Mahathma Nagr Ist Street: Rs 2,350 per sq.ft (2024)
• Mahatama Nagar: 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 Mahathma Nagar 2nd Street

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, and the registration fee at 2% would be Rs 47,000, bringing the total fees together to Rs 2,11,500. It is important 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 Mahathma Nagar 2nd Street?

The Sub Registrar Office that covers Mahathma Nagar 2nd Street 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 more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Anakaputhur. It serves as a benchmark for determining the stamp duty and registration fees that must be paid during the transaction.

When a property is registered, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties and fees. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Mahathma Nagar 2nd Street?

The current guideline value of Mahathma Nagar 2nd Street 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 from Rs 1,407 per sq.ft in 2017 to Rs 2,099 per sq.ft in 2023, and then to Rs 2,350 per sq.ft in 2024. This represents a total increase of 67% from 2017 to 2024.

What is the land classification for Mahathma Nagar 2nd Street?

The land classification for Mahathma Nagar 2nd Street is Residential Class III Type - I, indicating its suitability for residential development.

What are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 23,50,000, the stamp duty would be Rs 1,64,500 and the registration fee would be Rs 47,000, totaling Rs 2,11,500. These fees are calculated based on the higher of the guideline value or the sale price.

Where is the Sub Registrar Office located for this street?

The Pammal Sub Registrar Office is located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075. This office handles registrations for Mahathma Nagar 2nd Street and the surrounding areas.