Guideline Value for Mailima Nagar

Mailima Nagar guideline value

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

How the guideline value of Mailima Nagar has changed

Over the years, the guideline value of Mailima Nagar has seen several revisions. The earliest recorded figure is from 2007, where it was Rs 200 per sq.ft. This figure increased significantly to Rs 800 per sq.ft in 2012, marking a 300% rise. However, the value then decreased to Rs 536 per sq.ft in 2017, reflecting a 33% drop. The value remained at Rs 800 per sq.ft from 2017 to 2023, showing no change. As of the 2024 revision, the guideline value is again Rs 800 per sq.ft, indicating no change from the previous year.

The register has no figures for the years 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 300%.

Guideline values in Karanaipuducheri

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

• Mahendravarman Nagar: Rs 800 per sq.ft (2024)
• Malar Avenue: Rs 700 per sq.ft (2024)
• Mahalakshmi Nagar Extn: Rs 800 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 Mailima 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, bringing the total fees to Rs 72,000. It is important to note that the 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 Mailima Nagar?

Mailima Nagar is covered by the Gooduvancheri Sub Registrar Office, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvancheri-603202, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process of property transactions in Karanaipuducheri. When a property is bought or sold, the guideline value is used to determine the applicable stamp duty and registration fees, ensuring that these costs are calculated based on the official valuation set by the government.

It is essential for buyers and sellers to be aware of the guideline value as it directly affects the financial implications of property transactions. The registration office utilizes this value to ensure transparency and consistency in property dealings within the region.

Frequently asked questions

What is the current guideline value of Mailima Nagar?

The current guideline value of Mailima 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 various changes, starting from Rs 200 per sq.ft in 2007 to Rs 800 per sq.ft in 2012, then dropping to Rs 536 per sq.ft in 2017, remaining at Rs 800 per sq.ft until 2024.

What is the median guideline value in Karanaipuducheri?

The median guideline value for streets in Karanaipuducheri is Rs 802 per sq.ft, with Mailima Nagar's current value being slightly below this median.

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

For a 1,000 sq.ft plot, the total guideline value is Rs 8,00,000, resulting in a stamp duty of Rs 56,000 and a registration fee of Rs 16,000, totaling Rs 72,000.

Which office handles registrations for Mailima Nagar?

The Gooduvancheri Sub Registrar Office handles registrations for Mailima Nagar, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvancheri-603202, Chengalpattu registration zone.