Guideline Value for Maheshwari Nagar 4th Street

Maheshwari Nagar 4th Street guideline value

The current guideline value of Maheshwari Nagar 4th Street is Rs 2,970 per sq.ft, effective from 1 July 2024. This street is located in Hastinapuram village under the Pallavaram SRO and is classified as Residential Class I Type - I.

How the guideline value of Maheshwari Nagar 4th Street has changed

The guideline value for Maheshwari Nagar 4th Street has undergone several revisions over the years. In 2007, the value was Rs 400 per sq.ft, which increased significantly to Rs 2,700 per sq.ft in 2012. However, it decreased to Rs 1,809 per sq.ft in 2017. The value then rose to Rs 2,700 per sq.ft in 2023 before reaching the current figure of Rs 2,970 per sq.ft in 2024. The register has no figures for the years 2002 and 2003 for this street.

From 2007 to 2012, the guideline value saw a substantial increase of 575%. However, it then experienced a decrease of 33% from 2012 to 2017. The value rose by 49% from 2017 to 2023, followed by a 10% increase from 2023 to 2024. Overall, the guideline value has increased by 643% from 2007 to 2024.

Guideline values in Hastinapuram

In Hastinapuram village, 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 for these streets is Rs 2,970 per sq.ft, which is equal to the guideline value of Maheshwari Nagar 4th Street.

• Maheshwari Nagar 3rd Street: Rs 2,970 per sq.ft (2024)
• Maheshwari Nagar Maheswari Street: Rs 2,970 per sq.ft (2024)
• Maheshwari Nagar 2nd Street: Rs 2,970 per sq.ft (2024)
• Maheshwari Nagar 1st 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 4th 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, and the registration fee at 2% would be Rs 59,400, bringing the total to Rs 2,67,300. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

You can use the stamp duty and registration fee calculator for precise calculations.

Which Sub Registrar Office covers Maheshwari Nagar 4th Street?

The Maheshwari Nagar 4th Street falls under 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 serves as a benchmark for property transactions in Hastinapuram. It is used to determine the stamp duty and registration fees applicable to the transaction. Buyers and sellers must be aware of this value to ensure compliance with local regulations during the registration process.

When a property is sold, the guideline value is considered to ensure that the transaction is recorded accurately. This helps maintain transparency in property dealings and ensures that the appropriate taxes are collected by the government.

Frequently asked questions

What is the current guideline value of Maheshwari Nagar 4th Street?

The current guideline value of Maheshwari Nagar 4th 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 from Rs 400 per sq.ft in 2007 to Rs 2,970 per sq.ft in 2024, reflecting an overall increase of 643% over the years.

What is the land classification for Maheshwari Nagar 4th Street?

Maheshwari Nagar 4th Street is classified as Residential Class I Type - I.

Where can I find the registration office for Maheshwari Nagar 4th Street?

The registration office for Maheshwari Nagar 4th Street is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone.

How is the stamp duty calculated for properties in Maheshwari Nagar 4th Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 29,70,000, the stamp duty would be Rs 2,07,900 at a rate of 7%.