Guideline Value for Mahathma Nagr Ist Street

Mahathma Nagr Ist Street guideline value

The current guideline value of Mahathma Nagr Ist Street is Rs 2,350 per sq.ft, effective from 1 July 2024. This street is located in Anakaputhur village under the Pammal SRO and is classified as Residential Class III Type - I.

How the guideline value of Mahathma Nagr Ist Street has changed

The guideline value for Mahathma Nagr Ist Street has undergone several revisions since 2017. The 2017 revision set the value at Rs 1,407 per sq.ft, which increased to Rs 2,099 per sq.ft in 2023, marking a 49% rise. The latest revision in 2024 has further increased the guideline value to 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 figures available for the revisions in 2002, 2003, 2007, and 2012 for this street.

Guideline values in Anakaputhur

In Anakaputhur, there are 501 streets under the Pammal SRO that have 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, and Mahathma Nagr Ist Street's 2024 figure is above this median.

• Mahathma Nagar 2nd 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 Nagr Ist 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, totaling Rs 2,11,500. It is important to note that duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Mahathma Nagr Ist Street?

The Sub Registrar Office that covers Mahathma Nagr Ist Street is the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, 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 when buying or selling property in Anakaputhur, as it determines the minimum value at which a property can be registered. Buyers and sellers must be aware of the current guideline value to ensure compliance with registration requirements.

When a property is sold, the registration office uses the guideline value to calculate the stamp duty and registration fees. This ensures that the transaction is recorded accurately, reflecting the property's value as per the official register.

Frequently asked questions

What is the current guideline value of Mahathma Nagr Ist Street?

The current guideline value of Mahathma Nagr Ist Street is Rs 2,350 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Since 2017, the guideline value has increased from Rs 1,407 per sq.ft to Rs 2,350 per sq.ft in 2024, marking a 67% increase overall. The value rose from Rs 1,407 in 2017 to Rs 2,099 in 2023, and then to Rs 2,350 in 2024.

What is the classification of land in Mahathma Nagr Ist Street?

Mahathma Nagr Ist Street is classified as Residential Class III Type - I, indicating its designation for residential use.

What are the stamp duty rates for property in this area?

The stamp duty rate for property transactions in this area is 7%. This is applied to the guideline value or the sale price, whichever is higher.

Where can I find the Sub Registrar Office for Mahathma Nagr Ist Street?

The Sub Registrar Office for Mahathma Nagr Ist Street is located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, Chengalpattu registration zone.