Guideline Value for Mahaveer Street / Sathya Nagar

Mahaveer Street / Sathya Nagar guideline value

The current guideline value of Mahaveer Street / Sathya Nagar is Rs 1,760 per sq.ft, effective from 1 July 2024. This street is located in Pammal village, under the Pammal SRO, and is classified as Residential Class III Type - II.

How the guideline value of Mahaveer Street / Sathya Nagar has changed

The guideline value of Mahaveer Street / Sathya Nagar has undergone several revisions over the years. In 2002, the guideline value was Rs 153 per sq.ft, which increased to Rs 173 per sq.ft in 2003, marking a change of 13%. The value saw a significant rise to Rs 260 per sq.ft in 2007, reflecting a 50% increase. By 2017, the guideline value rose dramatically to Rs 1,072 per sq.ft, a substantial increase of 312% from the previous revision. However, there is no figure available for this street in the 2012 revision.

In the 2023 revision, the guideline value was set at Rs 1,600 per sq.ft, which was a 49% increase from the 2017 figure. The most recent revision in 2024 saw the guideline value increase by 10% to Rs 1,760 per sq.ft. Overall, from 2002 to 2024, the guideline value has increased by 1050%.

Guideline values in Pammal

In Pammal, there are 926 streets under the Pammal SRO, with guideline values ranging from Rs 880 to Rs 3,300 per sq.ft as of 2024. The median guideline value in the village is Rs 2,090 per sq.ft, placing Mahaveer Street / Sathya Nagar's 2024 figure below this median.

• Mahatama Gandhi Street / Nagalkeni: Rs 1,980 per sq.ft (2024)
• Mahimai Dasan Street, Periyar Nagar: Rs 1,980 per sq.ft (2024)
• Mahalingam Street / Pasumpon Nagar: Rs 1,980 per sq.ft (2024)
• Magimaidas Street / Ganapathy Nagar: Rs 1,760 per sq.ft (2024)
• Madhavan Street / Muthamzhi Nagar: Rs 2,475 per sq.ft (2024)
• Madhavan Nair Street /Muthamzhi Nagar: Rs 2,475 per sq.ft (2024)

Stamp duty and registration fee for property in Mahaveer Street / Sathya Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,760 per sq.ft, the total guideline value would be Rs 17,60,000. The stamp duty at 7% would amount to Rs 1,23,200, and the registration fee at 2% would be Rs 35,200, bringing the total charges to Rs 1,58,400. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Mahaveer Street / Sathya Nagar?

The Sub Registrar Office that covers Mahaveer Street / Sathya Nagar is the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is an important reference point used during property registration in Pammal. It helps determine the stamp duty and registration fees payable when a property is bought or sold. Buyers and sellers should be aware that the guideline value is used to calculate these fees, ensuring transparency in the property transaction process.

When a property is registered, the guideline value serves as a benchmark to assess the value of the property being sold. This ensures that the transaction is documented accurately according to government regulations.

Frequently asked questions

What is the current guideline value of Mahaveer Street / Sathya Nagar?

The current guideline value of Mahaveer Street / Sathya Nagar is Rs 1,760 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased significantly from Rs 153 per sq.ft in 2002 to Rs 1,760 per sq.ft in 2024, marking an overall increase of 1050%.

What are the stamp duty and registration fees for properties in this area?

The stamp duty is charged at 7% and the registration fee at 2% of the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot, the total charges would be Rs 1,58,400.

Which Sub Registrar Office covers Mahaveer Street / Sathya Nagar?

The Pammal Sub Registrar Office covers Mahaveer Street / Sathya Nagar, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075.

What is the land classification for Mahaveer Street / Sathya Nagar?

Mahaveer Street / Sathya Nagar is classified as Residential Class III Type - II, which is relevant for property transactions and guideline value assessments.