Guideline Value for Mahidara Central

Mahidara Central guideline value

The current guideline value of Mahidara Central in Kondavakkam village is Rs 700 per sq.ft, effective from 1 July 2024. This area falls under the Sriperumpudur SRO and is classified as Commercial Class I Type - I.

How the guideline value of Mahidara Central has changed

Over the years, the guideline value for Mahidara Central has seen several revisions. The 2007 revision set the value at Rs 350 per sq.ft, which increased to Rs 700 per sq.ft in 2012. This figure remained unchanged until the 2017 revision, which saw a significant increase of 49% to Rs 700 per sq.ft. The 2023 revision also maintained the value at Rs 700 per sq.ft, and the 2024 revision has kept it the same, showing no change from the previous year.

From the 2012 revision to 2017, there was a decrease of 33%, while the increase from 2007 to 2012 was 100%. Overall, from 2007 to 2024, the guideline value has increased by 100%. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Kondavakkam

Kondavakkam has six streets under the Sriperumpudur SRO that carry a 2024 guideline value, ranging from Rs 250 to Rs 903 per sq.ft. The guideline value for Mahidara Central is equal to the median value of Rs 700 per sq.ft.

• Mahidhara Central - II Sector-I: Rs 903 per sq.ft (2024)
• NRI Centre City: Rs 700 per sq.ft (2024)
• NRI centre city ph.II: Rs 700 per sq.ft (2024)
• Sri Sai Balaji Nagar: Rs 250 per sq.ft (2024)
• Teachers Spanish City: Rs 500 per sq.ft (2024)

Stamp duty and registration fee for property in Mahidara Central

For a 1,000 sq.ft plot at the current guideline value of Rs 700 per sq.ft, the total guideline value amounts to Rs 7,00,000. The stamp duty at 7% would be Rs 49,000, and the registration fee at 2% would be Rs 14,000, making the total cost for these fees Rs 63,000. Duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Mahidara Central?

The Mahidara Central area is covered by 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 Kondavakkam

The guideline value plays a crucial role in property transactions in Kondavakkam. It is used to determine the stamp duty and registration fees when a property is bought or sold. Buyers must be aware that these fees are calculated based on the guideline value or the sale price, whichever is higher.

When registering a property, the guideline value ensures that the transaction is recorded at a fair value. This process helps maintain transparency in property dealings and ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Mahidara Central?

The current guideline value of Mahidara Central is Rs 700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen various changes, with the most recent being Rs 700 per sq.ft since 2012, except for a period in 2017 where it remained the same. The overall increase from 2007 to 2024 is 100%.

What are the other streets in Kondavakkam?

Other streets in Kondavakkam include Mahidhara Central - II Sector-I, NRI Centre City, NRI centre city ph.II, Sri Sai Balaji Nagar, and Teachers Spanish City, with guideline values ranging from Rs 250 to Rs 903 per sq.ft.

What is the stamp duty for property in Mahidara Central?

The stamp duty for property in Mahidara Central is 7% of the guideline value or sale price, whichever is higher. For a 1,000 sq.ft plot, the stamp duty would be Rs 49,000.

Where can I find the Sub Registrar Office for Mahidara Central?

The Sub Registrar Office covering Mahidara Central is located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone.