Guideline Value for MAHALAKSHMI GARDEN

Mahalakshmi Garden guideline value

The current guideline value of Mahalakshmi Garden in Puthuper village is Rs 896 per sq.ft, effective from 1 July 2024. This property falls under the Sriperumpudur SRO and is classified as Mixed Type - III land.

How the guideline value of Mahalakshmi Garden has changed

The guideline value for Mahalakshmi Garden has seen several revisions over the years. The 2017 revision set the value at Rs 600 per sq.ft, which remained unchanged in the 2023 revision. As of the 2024 revision, the guideline value is Rs 896 per sq.ft, reflecting a 49% increase from the 2017 figure.

Between the 2023 and 2024 revisions, there was no change, with the value remaining at Rs 896 per sq.ft. The register has no figures for the years 2002, 2003, 2007, and 2012 for this street.

Guideline values in Puthuper

Puthuper village has 39 streets under the Sriperumpudur SRO that carry a 2024 guideline value ranging from Rs 100 to Rs 1,350 per sq.ft. The median guideline value in this village is Rs 400 per sq.ft, placing Mahalakshmi Garden's current value above that median.

• Kundrathur Main Road: Rs 520 per sq.ft (2024)
• Kumaran Nagar: Rs 400 per sq.ft (2024)
• Krithika Garden I & II: Rs 520 per sq.ft (2024)
• Meenakshi Amman Nagar: Rs 200 per sq.ft (2024)
• Kanniamman Koil Street: Rs 400 per sq.ft (2024)
• Muthu Mariyamman Koil Cross Street: Rs 100 per sq.ft (2024)

Stamp duty and registration fee for property in Mahalakshmi Garden

For a 1,000 sq.ft plot at the current guideline value of Rs 896 per sq.ft, the total guideline value would be Rs 8,96,000. The stamp duty, charged at 7%, would amount to Rs 62,720, while the registration fee at 2% would be Rs 17,920. Together, the total cost for stamp duty and registration fees would be Rs 80,640. Duty is charged on the higher of the guideline value and the sale price. You can calculate your fees using the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Mahalakshmi Garden?

The Mahalakshmi Garden 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 Puthuper

The guideline value is an essential factor in property transactions, as it determines the base value for calculating stamp duty and registration fees during the registration process. Buyers and sellers must consider the guideline value to ensure compliance with local regulations.

When registering a property, the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Mahalakshmi Garden?

The current guideline value of Mahalakshmi Garden is Rs 896 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value increased from Rs 600 per sq.ft in 2017 to Rs 896 per sq.ft in 2024, marking a 49% increase over that period. There was no change in value from 2023 to 2024.

What is the land classification of Mahalakshmi Garden?

Mahalakshmi Garden is classified as Mixed Type - III land, which indicates its varied use potential.

Where can I find the Sriperumpudur Sub Registrar Office?

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

How is the stamp duty calculated for properties in Mahalakshmi Garden?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at the current guideline value would incur a stamp duty of Rs 62,720.