Guideline Value for MAHALAKSHMI KOIL STREET

Mahalakshmi Koil Street guideline value

The current guideline value of Mahalakshmi Koil Street is Rs 9,900 per sq.ft, effective from the 2024 revision. This street is located in Thiruvanmiyur village and falls under the Chennai South Joint I SRO. The land classification for this area is Residential Class I Type - I.

How the guideline value of Mahalakshmi Koil Street has changed

The guideline value for Mahalakshmi Koil Street has undergone several revisions over the years. The 2012 revision set the value at Rs 9,000 per sq.ft, which was then reduced to Rs 6,030 per sq.ft in the 2017 revision. Following this, the 2023 revision increased the value to Rs 9,000 per sq.ft, and the most recent revision in 2024 has further increased it to Rs 9,900 per sq.ft. There are no figures available for the revisions in 2002, 2003, and 2007 for this street.

From the 2012 revision to the 2024 revision, the overall change is an increase of 10%. Specifically, the change from 2017 to 2023 was an increase of 49%, while the change from 2012 to 2017 was a decrease of 33%. The increase from 2023 to 2024 is noted at 10%.

Guideline values in Thiruvanmiyur

In Thiruvanmiyur, there are 484 streets under the Chennai South Joint I SRO that carry a 2024 guideline value, ranging from Rs 3,520 to Rs 12,660 per sq.ft. The median value for these streets is Rs 9,900 per sq.ft, which is equal to the 2024 guideline value for Mahalakshmi Koil Street.

• Mahalakshmi Avenue: Rs 9,900 per sq.ft (2024)
• Magala Earikkarai Street: Rs 3,520 per sq.ft (2024)
• Madurai Samy Street: Rs 7,150 per sq.ft (2024)
• Mahatma Gandhi Road: Rs 12,660 per sq.ft (2024)
• Malavia Avenue: Rs 12,660 per sq.ft (2024)
• Malavia Avenue 1st Cross Street: Rs 12,660 per sq.ft (2024)

Stamp duty and registration fee for property in Mahalakshmi Koil Street

For a 1,000 sq.ft plot at the current guideline value of Rs 9,900 per sq.ft, the total guideline value amounts to Rs 99,00,000. The stamp duty at 7% would be Rs 6,93,000, and the registration fee at 2% would be Rs 1,98,000, bringing the total cost for stamp duty and registration to Rs 8,91,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Mahalakshmi Koil Street?

The Sub Registrar Office that covers Mahalakshmi Koil Street is the Chennai South Joint I 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 information.

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

The guideline value is a crucial factor in the registration process for properties in Thiruvanmiyur. It serves as the basis for calculating stamp duty and registration fees, which are mandatory costs associated with property transactions.

When buying or selling property, the guideline value ensures that the transaction is recorded at a fair value, reflecting the official assessment of the property’s worth. This helps in maintaining transparency in property dealings within the region.

Frequently asked questions

What is the current guideline value of Mahalakshmi Koil Street?

The current guideline value of Mahalakshmi Koil Street is Rs 9,900 per sq.ft, effective from the 2024 revision.

How has the guideline value changed over the years?

The guideline value has changed from Rs 9,000 per sq.ft in 2012 to Rs 6,030 per sq.ft in 2017, then increased to Rs 9,000 per sq.ft in 2023, and finally to Rs 9,900 per sq.ft in 2024.

What is the land classification for Mahalakshmi Koil Street?

The land classification for Mahalakshmi Koil Street is Residential Class I Type - I. This classification indicates the type of residential development permitted in the area.

Where can I find the Sub Registrar Office for Mahalakshmi Koil Street?

The Sub Registrar Office for Mahalakshmi Koil Street is located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035.

How is the stamp duty calculated for properties in Thiruvanmiyur?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. This ensures that the necessary fees are accurately assessed during property transactions.