Guideline Value for Mahaveer Garden

Mahaveer Garden guideline value

The current guideline value of Mahaveer Garden is Rs 5,100 per sq.ft, effective from 1 July 2024. This area is located in Ambattur village, under the Ambattur SRO, and is classified as Residential Special Type - I.

How the guideline value of Mahaveer Garden has changed

The guideline value of Mahaveer Garden has seen several revisions over the years. The earliest available figure is from 2012, where the value was Rs 4,700 per sq.ft. This was followed by a decrease to Rs 3,149 per sq.ft in 2017. In 2023, the value increased to Rs 4,700 per sq.ft again and then rose to Rs 5,100 per sq.ft in the 2024 revision.

From 2012 to 2017, there was a decrease of 33%. However, from 2017 to 2023, the value increased by 49%. The most recent change from 2023 to 2024 reflects a 9% increase. Overall, from 2012 to 2024, the guideline value has increased by 9%.

Guideline values in Ambattur

In Ambattur, there are 448 streets under the Ambattur SRO with a 2024 guideline value ranging from Rs 1,400 to Rs 8,209 per sq.ft. The median guideline value for these streets is Rs 3,600 per sq.ft, placing Mahaveer Garden's 2024 figure above this median.

• Maga Kavi Bharathi nagar: Rs 2,200 per sq.ft (2024)
• Mangalapuram bajanai Koil Street: Rs 2,500 per sq.ft (2024)
• Mangalapuram Kullan Street: Rs 2,500 per sq.ft (2024)
• Mangalapuram Nalla Kinaru street: Rs 2,500 per sq.ft (2024)
• Mangalapuram Padalaru Street: Rs 2,500 per sq.ft (2024)
• Mangalapuram Padasalai Street: Rs 2,500 per sq.ft (2024)

Stamp duty and registration fee for property in Mahaveer Garden

For a 1,000 sq.ft plot at the current rate of Rs 5,100 per sq.ft, the guideline value would be Rs 51,00,000. The stamp duty at 7% would amount to Rs 3,57,000, and the registration fee at 2% would be Rs 1,02,000, totaling Rs 4,59,000. 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 more details.

Which Sub Registrar Office covers Mahaveer Garden?

The Sub Registrar Office that covers Mahaveer Garden is the Ambattur Sub Registrar Office, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a key factor in property transactions in Ambattur, as it determines the minimum value at which properties can be registered. Buyers and sellers must consider this value to ensure compliance with local regulations during the registration process.

When purchasing property, the guideline value is used to calculate the stamp duty and registration fees, which are mandatory costs associated with the transaction. It is essential for both parties to be aware of the current guideline value to avoid any discrepancies during the sale.

Frequently asked questions

What is the current guideline value of Mahaveer Garden?

The current guideline value of Mahaveer Garden is Rs 5,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 4,700 per sq.ft in 2012, decreased to Rs 3,149 per sq.ft in 2017, increased to Rs 4,700 per sq.ft in 2023, and finally to Rs 5,100 per sq.ft in 2024.

What is the land classification of Mahaveer Garden?

Mahaveer Garden is classified as Residential Special Type - I, indicating its suitability for residential developments.

What are the stamp duty and registration fees for property in Mahaveer Garden?

The stamp duty is charged at 7% of the guideline value, and the registration fee is 2%. For example, a property with a guideline value of Rs 51,00,000 would incur a total of Rs 4,59,000 in fees.

Where is the Sub Registrar Office for Mahaveer Garden located?

The Ambattur Sub Registrar Office is located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone.