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Guideline Value

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Guideline Value for Mahaveer Garden Annex-1

₹1650/sq.ft.

The guideline value for Mahaveer Garden Annex-1 in Puzhal village (Redhills SRO, Chennai zone) is Rs 1650 per sq.ft, effective 1 July 2024. It was Rs 1500 per sq.ft from 1 April 2023, a 10% change. The land classification is Residential Class I Type - I. Source: TNReginet guideline value register.

Last updated:

Chennai

Zone

Puzhal

Village

Redhills

SRO

Residential Class I Type - I
History
Period Guideline Value
From 1-7-2024 ₹1650 /sq.ft.
From 1-4-2023 ₹1500 /sq.ft.
From 9-6-2017 To 31-3-2023 ₹1005 /sq.ft.
From 1-4-2012 To 8-6-2017 ₹1500 /sq.ft.
From 1-8-2007 To 31-3-2012 ₹200 /sq.ft.
From 1-4-2003 To 31-7-2007 ₹41 /sq.ft.
From 1-4-2002 To 31-3-2003 ₹402 /sq.ft.
Guideline Value Timeline
Guideline Value Comparison

SRO (Sub Registrar Office)

Sub Registrar Office, Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.
044-29570109
[email protected]

DRO (District Registrar Office)

District Registrar Office Jvc Complex Near Icmr Vedingallur Thiruvallur -631203
044-27661230
[email protected], [email protected]

DIG (Deputy Inspector General)

Integrated Building For Offices Of The Commercial Taxes And Registration, Department Fanepet, Nandanam, Chennai - 600 035.
044-29510527
[email protected]
Records for a plot on Mahaveer Garden Annex-1

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Mahaveer Garden Annex-1 guideline value

The current guideline value of Mahaveer Garden Annex-1 is Rs 1,650 per sq.ft, effective from 1 July 2024. This property is located in Puzhal village under the Redhills SRO, classified as Residential Class I Type - I.

How the guideline value of Mahaveer Garden Annex-1 has changed

The guideline value for Mahaveer Garden Annex-1 has seen several revisions over the years. In 2002, the value was Rs 402 per sq.ft, which decreased to Rs 41 per sq.ft in 2003. The value then increased significantly to Rs 200 per sq.ft in 2007, followed by a substantial rise to Rs 1,500 per sq.ft in 2012. However, it dropped to Rs 1,005 per sq.ft in 2017. The 2023 revision set the value at Rs 1,500 per sq.ft, and the most recent revision in 2024 has increased it to Rs 1,650 per sq.ft, marking a change of +10% from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by +310%. The changes between revisions include a +388% rise from 2003 to 2007, a +650% increase from 2007 to 2012, a -33% decrease from 2012 to 2017, and a +49% increase from 2017 to 2023.

Guideline values in Puzhal

Puzhal village has a total of 270 streets under the Redhills SRO, with guideline values ranging from Rs 1,100 to Rs 6,000 per sq.ft. The median guideline value in this area is Rs 1,102 per sq.ft, and Mahaveer Garden Annex-1's 2024 figure is above that median.

Stamp duty and registration fee for property in Mahaveer Garden Annex-1

For a 1,000 sq.ft plot at the current guideline value of Rs 1,650 per sq.ft, the total guideline value amounts to Rs 16,50,000. The stamp duty at 7% would be Rs 1,15,500, and the registration fee at 2% would be Rs 33,000, making the total fees together Rs 1,48,500. Please note that duty is charged on the guideline value or the sale price, whichever is higher. You can also use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Mahaveer Garden Annex-1?

The Sub Registrar Office that covers Mahaveer Garden Annex-1 is the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Puzhal. It serves as a benchmark for calculating the stamp duty and registration fees that need to be paid at the time of registration.

When a property is sold, the buyer must ensure that the sale price is at least equal to the guideline value to avoid any legal issues. The registration office will use the higher of the two values—guideline value or sale price—to calculate the applicable duties and fees.

Frequently asked questions

What is the current guideline value of Mahaveer Garden Annex-1?

The current guideline value of Mahaveer Garden Annex-1 is Rs 1,650 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 402 per sq.ft in 2002 to Rs 1,650 per sq.ft in 2024, reflecting an overall increase of +310% over this period.

What is the registration office for Mahaveer Garden Annex-1?

The registration office for Mahaveer Garden Annex-1 is the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.

How is stamp duty calculated for properties in Puzhal?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. The current rate is 7% of the guideline value.

What other streets in Puzhal have similar guideline values?

Other streets in Puzhal with similar guideline values include Mahaveer Garden, Mahaveer Garden Annex 2&3, Mahaveer Garden Annex 4, and Mahaveer Nagar, all at Rs 1,650 per sq.ft for 2024.