Guideline Value for Mahendravarman Nagar

Mahendravarman Nagar guideline value

The current guideline value of Mahendravarman Nagar is Rs 800 per sq.ft, effective from 1 July 2024. This area is located in Karanaipuducheri village, under the jurisdiction of the Gooduvancheri SRO. The land classification for this street is Residential Class I Type - II.

How the guideline value of Mahendravarman Nagar has changed

The guideline value for Mahendravarman Nagar has undergone several revisions over the years. The earliest recorded revision was in 2007, where the value was set at Rs 250 per sq.ft. This increased significantly to Rs 800 per sq.ft in the 2012 revision, marking a 220% rise. However, in 2017, the value dropped to Rs 536 per sq.ft, reflecting a decrease of 33%. The 2023 revision maintained the value at Rs 800 per sq.ft, and the current 2024 revision also keeps it at Rs 800 per sq.ft, showing no change from the previous year.

Overall, from 2007 to 2024, the guideline value has increased by 220%. Notably, there are no recorded figures for the revisions in 2002 and 2003 for this street.

Guideline values in Karanaipuducheri

In Karanaipuducheri, there are 108 streets under the Gooduvancheri SRO that have a 2024 guideline value ranging from Rs 400 to Rs 2,239 per sq.ft. The median value for these streets is Rs 802 per sq.ft, and Mahendravarman Nagar's 2024 figure is below this median.

• Mailima Nagar: Rs 800 per sq.ft (2024)
• Mahalakshmi Nagar Extn: Rs 800 per sq.ft (2024)
• Malar Avenue: Rs 700 per sq.ft (2024)
• Mahalakshmi Nagar: Rs 800 per sq.ft (2024)
• Mallika Nagar: Rs 700 per sq.ft (2024)
• Lingam Nagar Extn: Rs 800 per sq.ft (2024)

Stamp duty and registration fee for property in Mahendravarman Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 800 per sq.ft, the total guideline value amounts to Rs 8,00,000. The stamp duty at 7% would be Rs 56,000, and the registration fee at 2% would be Rs 16,000, making the total cost for these fees Rs 72,000. It is important to note that duty is charged on the higher of the guideline value or the sale price. For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Mahendravarman Nagar?

The Sub Registrar Office that covers Mahendravarman Nagar is the Gooduvancheri Sub Registrar Office, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvanjery-603202, Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Karanaipuducheri. It serves as a benchmark for calculating stamp duty and registration fees, ensuring that these costs are based on a standardized valuation of the property.

When a property is sold, the guideline value helps determine the official value for registration purposes. This ensures transparency and consistency in property transactions, as the guideline value is regularly updated to reflect market conditions.

Frequently asked questions

What is the current guideline value of Mahendravarman Nagar?

The current guideline value of Mahendravarman Nagar is Rs 800 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen several changes, from Rs 250 per sq.ft in 2007 to Rs 800 per sq.ft in both 2012 and 2024, with fluctuations in between.

What is the land classification for Mahendravarman Nagar?

Mahendravarman Nagar is classified as Residential Class I Type - II.

Where is the Gooduvancheri Sub Registrar Office located?

The Gooduvancheri Sub Registrar Office is located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvanjery-603202, Chengalpattu registration zone.

What are the stamp duty and registration fees for a property in Mahendravarman Nagar?

For a property valued at Rs 8,00,000, the stamp duty would be Rs 56,000 and the registration fee would be Rs 16,000, totaling Rs 72,000.