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Guideline Value

Corporate

Guideline Value for MAHALAKHMI NAGAR (NEAR HIGHVIEW NAGAR

₹3100/sq.ft.

The guideline value for Mahalakhmi Nagar (near Highview Nagar in Ramapuram village (Chennai South Joint Ii SRO, Chennai zone) is Rs 3100 per sq.ft, effective 1 July 2024. It was Rs 2800 per sq.ft from 1 April 2023, a 11% change. The land classification is Residential Class Ii Type - I. Source: TNReginet guideline value register.

Last updated:

Chennai

Zone

Ramapuram

Village

Chennai South Joint II

SRO

Residential Class II Type - I
History
Period Guideline Value
From 1-7-2024 ₹3100 /sq.ft.
From 1-4-2023 ₹2800 /sq.ft.
From 9-6-2017 To 31-3-2023 ₹1876 /sq.ft.
From 1-4-2012 To 8-6-2017 ₹2800 /sq.ft.
From 1-8-2007 To 31-3-2012 ₹1100 /sq.ft.
From 1-4-2003 To 31-7-2007 ₹518 /sq.ft.
From 1-4-2002 To 31-3-2003 N/A
Guideline Value Timeline
Guideline Value Comparison

SRO (Sub Registrar Office)

Integrated Building For Offices Of The Commerrcial Taxes And Registrations Department ,fanepet Nandanam ,chennai -600 035
044-29510538
[email protected]

DRO (District Registrar Office)

Integrated Building For Offices Of The Commercial Taxes And Registration Department, Fanepet, Nandhanam, Chennai - 35.
044-22505552
[email protected], [email protected]

DIG (Deputy Inspector General)

Integrated Building For Offices Of The Commercial Taxes And Registration, Department Fanepet, Nandanam, Chennai - 600 035.
044-29510527
[email protected]
Records for a plot on Mahalakhmi Nagar (near Highview Nagar

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Mahalakhmi Nagar (Near Highview Nagar guideline value

The current guideline value of Mahalakhmi Nagar (Near Highview Nagar) is Rs 3,100 per sq.ft, effective from 1 July 2024. This area falls under Ramapuram village and is classified as Residential Class II Type - I, governed by the Chennai South Joint II SRO.

How the guideline value of Mahalakhmi Nagar (Near Highview Nagar has changed

The guideline value for Mahalakhmi Nagar has seen several revisions over the years. In 2003, the value was Rs 518 per sq.ft, which increased to Rs 1,100 per sq.ft in 2007. This was followed by a significant rise to Rs 2,800 per sq.ft in 2012. However, the value then dropped by 33% to Rs 1,876 per sq.ft in 2017. The most recent revisions show an increase to Rs 2,800 per sq.ft in 2023, and a further rise to Rs 3,100 per sq.ft in 2024, marking an 11% increase from the previous year.

Overall, from 2003 to 2024, the guideline value has increased by 498%. It is important to note that there is no figure available for the year 2002 in the register for this street.

Guideline values in Ramapuram

In Ramapuram, there are 394 streets under the Chennai South Joint II SRO that carry a guideline value for 2024, ranging from Rs 1,950 to Rs 6,600 per sq.ft. The median guideline value is Rs 3,100 per sq.ft, which is the same as the figure for Mahalakhmi Nagar.

Stamp duty and registration fee for property in Mahalakhmi Nagar (Near Highview Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 3,100 per sq.ft, the total guideline value amounts to Rs 31,00,000. The stamp duty is charged at 7%, which totals Rs 2,17,000, and the registration fee is charged at 2%, amounting to Rs 62,000. Together, the total fees would be Rs 2,79,000. It is important to note that duty is charged on the higher of the guideline value and the sale price. For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Mahalakhmi Nagar (Near Highview Nagar?

The Sub Registrar Office that covers Mahalakhmi Nagar is the Chennai South Joint II Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035. You can find your SRO for more details.

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

The guideline value is an important factor when registering property transactions in Ramapuram. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is recorded accurately in the official register.

When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees, which are mandatory costs associated with the transfer of property ownership. This ensures that both the buyer and seller are aware of the financial obligations involved in the transaction.

Frequently asked questions

What is the current guideline value of Mahalakhmi Nagar?

The current guideline value of Mahalakhmi Nagar is Rs 3,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Over the years, the guideline value has increased from Rs 518 per sq.ft in 2003 to Rs 3,100 per sq.ft in 2024, marking an overall increase of 498%.

What is the land classification for Mahalakhmi Nagar?

Mahalakhmi Nagar is classified as Residential Class II Type - I, which indicates its suitability for residential developments.

What are the stamp duty rates for property transactions?

The stamp duty for property transactions in Mahalakhmi Nagar is charged at 7% of the guideline value or sale price, whichever is higher.

Which Sub Registrar Office covers this area?

The Chennai South Joint II Sub Registrar Office covers Mahalakhmi Nagar, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035.