Guideline Value for Maseela Maheshwar Street (Sabari Nagar)

Maseela Maheshwar Street (Sabari Nagar) guideline value

The current guideline value of Maseela Maheshwar Street (Sabari Nagar) is Rs 5,400 per sq.ft, effective from 1 July 2024. This street is located in Naduvakkarai village and falls under the AnnaNagar SRO. The land classification for this area is Residential Class II Type - II.

How the guideline value of Maseela Maheshwar Street (Sabari Nagar) has changed

Over the years, the guideline value of Maseela Maheshwar Street has seen several revisions. The 2007 revision recorded a guideline value of Rs 1,800 per sq.ft, which increased significantly to Rs 5,000 per sq.ft in 2012. However, this was followed by a decrease to Rs 3,350 per sq.ft in 2017. The value then rose sharply to Rs 5,000 per sq.ft in 2023, and the most recent revision in 2024 set the value at Rs 5,400 per sq.ft, marking an 8% increase from the previous year. The register has no figures for the years 2002 and 2003 for this street.

In summary, the changes between revisions show a significant increase overall. From the 2007 revision to the 2024 revision, the guideline value has increased by 200%. Notably, the jump from 2017 to 2023 was a substantial 49%, while the increase from 2012 to 2017 was a decrease of 33%.

Guideline values in Naduvakkarai

Naduvakkarai village has a total of 148 streets under the AnnaNagar SRO that carry a 2024 guideline value ranging from Rs 3,300 to Rs 15,900 per sq.ft. The median value for these streets is Rs 11,500 per sq.ft, which means that the 2024 guideline value of Maseela Maheshwar Street is below this median.

• M.G.R.Street, New Colony: Rs 5,500 per sq.ft (2024)
• L-5 to L 12 (LIG Flats) M11 to M14 (MIG Flats) Shanthi Colony: Rs 14,800 per sq.ft (2024)
• Nadhamuni Reddy Street: Rs 5,400 per sq.ft (2024)
• Naduvakkarai Street: Rs 5,500 per sq.ft (2024)
• Nathamuni 2nd Cross Street: Rs 5,400 per sq.ft (2024)
• New Colony, Periyar Street, Slum Clearance Board Flats, Naduvakkarai TNHB Land: Rs 5,400 per sq.ft (2024)

Stamp duty and registration fee for property in Maseela Maheshwar Street (Sabari Nagar)

For a 1,000 sq.ft plot at the current guideline value of Rs 5,400 per sq.ft, the total guideline value would be Rs 54,00,000. The stamp duty at 7% would amount to Rs 3,78,000, and the registration fee at 2% would be Rs 1,08,000, bringing the total to Rs 4,86,000. 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 further assistance.

Which Sub Registrar Office covers Maseela Maheshwar Street (Sabari Nagar)?

The Sub Registrar Office that covers Maseela Maheshwar Street (Sabari Nagar) is the AnnaNagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process of property transactions in Naduvakkarai. It serves as the minimum value on which stamp duty and registration fees are calculated, ensuring that the government receives appropriate revenue from property sales.

When buying or selling property, it is essential to consider the guideline value, as it can affect the overall cost of the transaction. Buyers should be aware that the guideline value may differ from the actual sale price, and the higher amount will be used for calculating duties and fees.

Frequently asked questions

What is the current guideline value of Maseela Maheshwar Street (Sabari Nagar)?

The current guideline value of Maseela Maheshwar Street (Sabari Nagar) is Rs 5,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,800 per sq.ft in 2007 to Rs 5,400 per sq.ft in 2024, showing an overall increase of 200% over the years.

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

For a property valued at Rs 54,00,000, the stamp duty would be Rs 3,78,000 and the registration fee would be Rs 1,08,000, totaling Rs 4,86,000.

Which office handles property registrations for Maseela Maheshwar Street?

The AnnaNagar Sub Registrar Office is responsible for property registrations in Maseela Maheshwar Street (Sabari Nagar).

What is the land classification for Maseela Maheshwar Street?

The land classification for Maseela Maheshwar Street (Sabari Nagar) is Residential Class II Type - II.