Guideline Value for Maheshwari Nagar 3rd Street

Maheshwari Nagar 3rd Street guideline value

The current guideline value of Maheshwari Nagar 3rd Street is Rs 2,970 per sq.ft, effective from 1 July 2024. This street is located in Hastinapuram village and falls under the Pallavaram SRO. The land classification is Residential Class I Type - I.

How the guideline value of Maheshwari Nagar 3rd Street has changed

The guideline value for Maheshwari Nagar 3rd Street has undergone several revisions over the years. The earliest recorded revision in 2007 set the value at Rs 400 per sq.ft. This figure saw a significant increase to Rs 2,700 per sq.ft in 2012, marking a rise of 575%. However, the value decreased to Rs 1,809 per sq.ft in 2017, reflecting a decline of 33%. The subsequent revision in 2023 raised the guideline value to Rs 2,700 per sq.ft, a 49% increase from the previous figure. The most recent revision in 2024 has set the guideline value at Rs 2,970 per sq.ft, an increase of 10% from 2023.

It is important to note that there are no figures available for the years 2002 and 2003 in the register for this street. Overall, from 2007 to 2024, the guideline value has increased by 643%.

Guideline values in Hastinapuram

In Hastinapuram, there are 277 streets under the Pallavaram SRO that carry a 2024 guideline value, ranging from Rs 1,650 to Rs 4,400 per sq.ft. The median value among these streets is Rs 2,970 per sq.ft, which is the same as the 2024 figure for Maheshwari Nagar 3rd Street.

• Maheshwari Nagar 2nd Street: Rs 2,970 per sq.ft (2024)
• Maheshwari Nagar 4th Street: Rs 2,970 per sq.ft (2024)
• Maheshwari Nagar 1st Street: Rs 2,970 per sq.ft (2024)
• Maheshwari Nagar Maheswari Street: Rs 2,970 per sq.ft (2024)
• Maheswari Nagar (1 To 4 Cross Streets): Rs 2,970 per sq.ft (2024)
• Maheswari Nagar 5th Street: Rs 2,970 per sq.ft (2024)

Stamp duty and registration fee for property in Maheshwari Nagar 3rd Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,970 per sq.ft, the total guideline value amounts to Rs 29,70,000. The stamp duty at 7% would be Rs 2,07,900, while the registration fee at 2% would be Rs 59,400. Together, the total cost for stamp duty and registration fee would be Rs 2,67,300. It is important to note that the 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 Maheshwari Nagar 3rd Street?

The Sub Registrar Office that covers Maheshwari Nagar 3rd Street is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone.

You can find your SRO for more details.

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

The guideline value is a crucial factor when buying or selling property in Hastinapuram. It serves as a reference point for determining the minimum value at which a property can be registered. Buyers and sellers must ensure that the sale price is at least equal to the guideline value to comply with registration norms.

During the registration process, the guideline value is used to calculate the applicable stamp duty and registration fees. This ensures that both parties are aware of the financial obligations involved in the transaction.

Frequently asked questions

What is the current guideline value of Maheshwari Nagar 3rd Street?

The current guideline value of Maheshwari Nagar 3rd Street is Rs 2,970 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 400 per sq.ft in 2007 to Rs 2,970 per sq.ft in 2024, which is an overall increase of 643%.

What is the land classification for Maheshwari Nagar 3rd Street?

The land classification for Maheshwari Nagar 3rd Street is Residential Class I Type - I.

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

For a property valued at Rs 29,70,000, the stamp duty would be Rs 2,07,900 and the registration fee would be Rs 59,400, totaling Rs 2,67,300.

Which office handles property registrations in Maheshwari Nagar?

The Pallavaram Sub Registrar Office handles property registrations for Maheshwari Nagar 3rd Street, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044.