Guideline Value for Mahaveer Nagar 4th Street

Mahaveer Nagar 4th Street guideline value

The current guideline value of Mahaveer Nagar 4th Street is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Kolathur village, under the Sembiam SRO, and is classified as Residential Class I Type - I.

How the guideline value of Mahaveer Nagar 4th Street has changed

The guideline value for Mahaveer Nagar 4th Street has seen several revisions over the years. In 2007, the guideline value was Rs 700 per sq.ft. This increased significantly to Rs 3,000 per sq.ft in 2012, marking a change of +329%. However, from 2012 to 2017, the value dropped to Rs 2,010 per sq.ft, a decrease of -33%. The value then rose to Rs 3,000 per sq.ft in 2023, reflecting an increase of +49%. The most recent revision in 2024 set the guideline value at Rs 3,300 per sq.ft, which is a +10% increase from the previous year.

There are no figures available for the revisions in 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by +371%.

Guideline values in Kolathur

In Kolathur, there are 879 streets under the Sembiam SRO, with guideline values ranging from Rs 2,200 to Rs 6,000 per sq.ft. The median guideline value for these streets is Rs 3,300 per sq.ft, which is equal to the 2024 figure for Mahaveer Nagar 4th Street.

• Mahaveer Nagar 3rd Street: Rs 3,300 per sq.ft (2024)
• Mahaveer Nagar 2nd Street: Rs 3,300 per sq.ft (2024)
• Mahaveer Nagar 1st Street: Rs 3,300 per sq.ft (2024)
• Maharaja Nagar: Rs 2,200 per sq.ft (2024)
• Makkaram Thottam 10th Street: Rs 3,300 per sq.ft (2024)
• Makkaram Thottam 11th Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Mahaveer Nagar 4th Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value would be Rs 33,00,000. The stamp duty at 7% would amount to Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, bringing the total to Rs 2,97,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

You can use the stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Mahaveer Nagar 4th Street?

The Sub Registrar Office that covers Mahaveer Nagar 4th Street is the Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011. You can find your SRO for more information.

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

The guideline value is a crucial factor when registering property in Kolathur. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives the appropriate stamp duty and registration fees based on this value.

When buying or selling property, the guideline value is used to calculate the applicable stamp duty and registration fees. Buyers should be aware that these fees are based on the higher of the guideline value or the actual sale price, which ensures transparency in property transactions.

Frequently asked questions

What is the current guideline value of Mahaveer Nagar 4th Street?

The current guideline value of Mahaveer Nagar 4th Street is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 700 per sq.ft in 2007 to Rs 3,300 per sq.ft in 2024, reflecting an overall increase of +371% over the years.

What is the land classification for Mahaveer Nagar 4th Street?

Mahaveer Nagar 4th Street is classified as Residential Class I Type - I.

Where can I find the Sub Registrar Office for Mahaveer Nagar 4th Street?

The Sub Registrar Office for Mahaveer Nagar 4th Street is the Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011.

How is the stamp duty calculated for properties in Mahaveer Nagar 4th Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a 1,000 sq.ft plot at the current guideline value, the total stamp duty would be Rs 2,31,000.