Guideline Value for Mehta Nagar (Ward-16)

Mehta Nagar (Ward-16) guideline value

The current guideline value of Mehta Nagar (Ward-16) is Rs 1,300 per sq.ft, effective from 1 July 2024. This area is located in Madhavaram village, under the Madhavaram SRO, classified as Residential Class III Type - I.

How the guideline value of Mehta Nagar (Ward-16) has changed

In the 2012 revision, the guideline value for Mehta Nagar was Rs 1,200 per sq.ft. This figure remained unchanged in the 2023 revision. However, with the 2024 revision, the value increased to Rs 1,300 per sq.ft, marking an 8% rise from the previous year.

Overall, from the 2012 revision to the 2024 revision, there has been a total increase of 8%. The register has no figure for the years 2002, 2003, 2007, and 2017 for this street.

Guideline values in Madhavaram

In Madhavaram, there are 1,946 streets under the Madhavaram SRO, with 2024 guideline values ranging from Rs 1,300 to Rs 7,500 per sq.ft. The median guideline value is Rs 1,600 per sq.ft, placing Mehta Nagar's 2024 figure below this median.

• Melaveethi: Rs 1,600 per sq.ft (2024)
• Meenatchi Bharathy Co-Op Nagar (Ward-01): Rs 1,300 per sq.ft (2024)
• Meenatchi Bharathi Co-Op Society (Ward-02): Rs 1,300 per sq.ft (2024)
• Meri Land Est.: Rs 1,300 per sq.ft (2024)
• Merryland Estates (Ward-02): Rs 1,300 per sq.ft (2024)
• Meenambal Avenue: Rs 2,700 per sq.ft (2024)

Stamp duty and registration fee for property in Mehta Nagar (Ward-16)

For a 1,000 sq.ft plot at the current guideline value of Rs 1,300 per sq.ft, the total guideline value would be Rs 13,00,000. The stamp duty at 7% would amount to Rs 91,000, and the registration fee at 2% would be Rs 26,000, totaling Rs 1,17,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can also use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Mehta Nagar (Ward-16)?

The Sub Registrar Office that covers Mehta Nagar (Ward-16) is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. To find your SRO, you can visit this link.

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

The guideline value is a crucial factor during property registration in Madhavaram. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives the appropriate stamp duty and registration fees based on this value.

When buying or selling property, the guideline value helps both parties understand the value of the property being exchanged. It is essential for buyers to be aware of the guideline value to ensure they are making informed decisions during the transaction process.

Frequently asked questions

What is the current guideline value of Mehta Nagar (Ward-16)?

The current guideline value of Mehta Nagar (Ward-16) is Rs 1,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,200 per sq.ft in 2012 to Rs 1,300 per sq.ft in 2024, reflecting an overall increase of 8% over this period.

What is the median guideline value in Madhavaram?

The median guideline value in Madhavaram is Rs 1,600 per sq.ft, while Mehta Nagar's 2024 figure is below this median.

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

For a property valued at Rs 13,00,000, the stamp duty would be Rs 91,000, and the registration fee would be Rs 26,000, totaling Rs 1,17,000.

Where is the Sub Registrar Office for Mehta Nagar located?

The Madhavaram Sub Registrar Office is located at No.7, Roja Nagar, Madhavaram, Chennai-600060, and it covers Mehta Nagar (Ward-16).