Guideline Value for Mahendra Nagar

Mahendra Nagar guideline value

The current guideline value of Mahendra Nagar is Rs 1,000 per sq.ft, effective from 1 July 2024. This area is located in Sriperumbudur A village, under the Sriperumpudur SRO, and is classified as Residential Class II Type - I.

How the guideline value of Mahendra Nagar has changed

The guideline value for Mahendra Nagar has undergone several revisions over the years. The 2017 revision set the value at Rs 670 per sq.ft. This was followed by the 2023 revision, which maintained the value at Rs 1,000 per sq.ft. The most recent 2024 revision also holds the guideline value at Rs 1,000 per sq.ft, indicating no change from the previous year. The register has no figures for the years 2002, 2003, 2007, and 2012 for this street.

Overall, from the 2017 revision to the 2024 revision, there has been an increase of 49%. The consistent value from 2023 to 2024 shows a change of +0%. This stability in the recent revisions contrasts with the significant increase observed between 2017 and 2023, where the value rose by 49%.

Guideline values in Sriperumbudur A

In Sriperumbudur A, there are 238 streets under the Sriperumpudur SRO that carry a 2024 guideline value ranging from Rs 400 to Rs 3,000 per sq.ft, with a median value of Rs 700 per sq.ft. The guideline value of Mahendra Nagar is above this median.

• Mahathma Ganthi Nagar: Rs 1,200 per sq.ft (2024)
• Manavala Mamuni Koil Lane: Rs 1,100 per sq.ft (2024)
• Manavala Mamuni Koil Street: Rs 1,100 per sq.ft (2024)
• Le Waterina Resorts: Rs 800 per sq.ft (2024)
• Lancor: Rs 700 per sq.ft (2024)
• Lakshmi Nagar: Rs 700 per sq.ft (2024)

Stamp duty and registration fee for property in Mahendra Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,000 per sq.ft, the total guideline value amounts to Rs 10,00,000. The stamp duty at 7% would be Rs 70,000, and the registration fee at 2% would be Rs 20,000, bringing the total fees to Rs 90,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can also use the stamp duty and registration fee calculator for precise calculations.

Which Sub Registrar Office covers Mahendra Nagar?

The Sub Registrar Office that covers Mahendra Nagar is the Sriperumpudur Sub Registrar Office, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role when buying or selling property in Sriperumbudur A. It is used to determine the stamp duty and registration fees applicable during the registration process. Buyers must be aware that these fees are calculated based on the guideline value or the sale price, whichever is higher.

When a property transaction occurs, the guideline value ensures that the transaction is recorded accurately and that the appropriate taxes are collected by the government. This process helps maintain transparency and fairness in property dealings within the region.

Frequently asked questions

What is the current guideline value of Mahendra Nagar?

The current guideline value of Mahendra Nagar is Rs 1,000 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 670 per sq.ft in 2017 to Rs 1,000 per sq.ft in both 2023 and 2024, marking a 49% increase overall from 2017 to 2024.

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

For a 1,000 sq.ft plot at the current guideline value, the total guideline value is Rs 10,00,000, resulting in a stamp duty of Rs 70,000 and a registration fee of Rs 20,000, totaling Rs 90,000.

Which Sub Registrar Office covers Mahendra Nagar?

The Sriperumpudur Sub Registrar Office covers Mahendra Nagar, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone.

What is the land classification of Mahendra Nagar?

Mahendra Nagar is classified as Residential Class II Type - I, indicating its designation for residential use within the area.