Guideline Value for Mahaveer Nagar

Mahaveer Nagar guideline value

The current guideline value of Mahaveer Nagar is Rs 2,000 per sq.ft, as per the 2023 revision. This area is located in Urapakkam village and falls under the Gooduvancheri SRO. The land classification for this region is Mixed Special Type - I.

How the guideline value of Mahaveer Nagar has changed

Over the years, the guideline value of Mahaveer Nagar has seen several revisions. The earliest recorded value was Rs 630 per sq.ft in 2007, which increased significantly to Rs 2,000 per sq.ft in 2012. However, this value dropped to Rs 1,340 per sq.ft in the 2017 revision, marking a decrease of 33%. The most recent revision in 2023 restored the value back to Rs 2,000 per sq.ft, reflecting a notable increase of 49% from the 2017 figure.

From the 2007 revision to the 2023 revision, the overall increase in guideline value is 217%. It is important to note that there are no figures available for the years 2002, 2003, and 2024 in the register for this street.

Guideline values in Urapakkam

Currently, there are no specific guideline values provided for other streets in Urapakkam. Mahaveer Nagar is one of the areas under the jurisdiction of the Gooduvancheri SRO.

Stamp duty and registration fee for property in Mahaveer Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 2,000 per sq.ft, the total guideline value amounts to Rs 20,00,000. The stamp duty at 7% would be Rs 1,40,000, and the registration fee at 2% would be Rs 40,000, bringing the total charges to Rs 1,80,000. It is essential 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 detailed calculations.

Which Sub Registrar Office covers Mahaveer Nagar?

The Sub Registrar Office that covers Mahaveer Nagar is the Gooduvancheri Sub Registrar Office, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvanchery-603202, Chengalpattu registration zone.

For more information, you can find your SRO.

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

The guideline value is a crucial factor in property transactions in Urapakkam. When buying or selling property, the guideline value is used to determine the applicable stamp duty and registration fees, which are mandatory for the legal transfer of property ownership.

It is essential for buyers and sellers to be aware of the current guideline value to ensure compliance with legal requirements and to accurately calculate the costs associated with property transactions.

Frequently asked questions

What is the current guideline value of Mahaveer Nagar?

The current guideline value of Mahaveer Nagar is Rs 2,000 per sq.ft as per the 2023 revision.

How has the guideline value changed over the years?

The guideline value has changed from Rs 630 per sq.ft in 2007 to Rs 2,000 per sq.ft in 2012, then decreased to Rs 1,340 per sq.ft in 2017, and finally returned to Rs 2,000 per sq.ft in 2023.

What are the stamp duty and registration fees in Mahaveer Nagar?

For a property valued at Rs 20,00,000, the stamp duty would be Rs 1,40,000, and the registration fee would be Rs 40,000, totaling Rs 1,80,000.

Which Sub Registrar Office covers Mahaveer Nagar?

The Gooduvancheri Sub Registrar Office covers Mahaveer Nagar, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvanchery-603202, Chengalpattu registration zone.

Are there other streets in Urapakkam with guideline values?

Currently, there are no specific guideline values provided for other streets in Urapakkam. Mahaveer Nagar is one of the areas under the Gooduvancheri SRO.