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Guideline Value

Corporate

Guideline Value for MAHALAKSHMI NAGAR 2ND STREET

₹3850/sq.ft.

The guideline value for Mahalakshmi Nagar 2nd Street in Karambakkam village (Chennai South Joint I SRO, Chennai zone) is Rs 3850 per sq.ft, effective 1 July 2024. It was Rs 3500 per sq.ft from 1 April 2023, a 10% change. The land classification is Commercial Class I Type - Iii. Source: TNReginet guideline value register.

Last updated:

Chennai

Zone

Karambakkam

Village

Chennai South Joint I

SRO

Commercial Class I Type - III
History
Period Guideline Value
From 1-7-2024 ₹3850 /sq.ft.
From 1-4-2023 ₹3500 /sq.ft.
From 9-6-2017 To 31-3-2023 ₹2345 /sq.ft.
From 1-4-2012 To 8-6-2017 ₹3500 /sq.ft.
From 1-8-2007 To 31-3-2012 N/A
From 1-4-2003 To 31-7-2007 N/A
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
044-29510536
[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 Mahalakshmi Nagar 2nd Street

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Mahalakshmi Nagar 2nd Street guideline value

The current guideline value of Mahalakshmi Nagar 2nd Street is Rs 3,850 per sq.ft, effective from 1 July 2024. This street is located in Karambakkam village and falls under the Chennai South Joint I SRO. The land classification for this area is Commercial Class I Type - III.

How the guideline value of Mahalakshmi Nagar 2nd Street has changed

The guideline value for Mahalakshmi Nagar 2nd Street has undergone several revisions over the years. The 2012 revision set the value at Rs 3,500 per sq.ft, which was later decreased to Rs 2,345 per sq.ft in the 2017 revision. However, from 2017 to 2023, the value increased significantly to Rs 3,500 per sq.ft, and the most recent revision in 2024 raised it further to Rs 3,850 per sq.ft. The changes between these revisions include a 49% increase from 2017 to 2023, a 33% decrease from 2012 to 2017, and a 10% increase overall from 2012 to 2024.

It is important to note that there are no figures available for the years 2002, 2003, and 2007 in the register for this street.

Guideline values in Karambakkam

In Karambakkam, there are 159 streets under the Chennai South Joint I SRO that carry a 2024 guideline value, ranging from Rs 1,100 to Rs 5,500 per sq.ft. The median value for these streets is Rs 1,930 per sq.ft, placing Mahalakshmi Nagar 2nd Street's 2024 figure above this median.

Stamp duty and registration fee for property in Mahalakshmi Nagar 2nd Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,850 per sq.ft, the total guideline value amounts to Rs 38,50,000. The stamp duty at 7% would be Rs 2,69,500, and the registration fee at 2% would be Rs 77,000, bringing the total costs together to Rs 3,46,500. 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 more detailed calculations.

Which Sub Registrar Office covers Mahalakshmi Nagar 2nd Street?

The Sub Registrar Office that covers Mahalakshmi Nagar 2nd 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 Karambakkam

The guideline value plays a crucial role during the registration of property transactions in Karambakkam. It is used to determine the stamp duty and registration fees that are applicable when buying or selling a property. Buyers and sellers must be aware of the current guideline value to ensure compliance with registration requirements.

When registering a property, the guideline value is compared with the sale price. The higher amount is used to calculate the stamp duty and registration fees, ensuring that the correct amounts are paid to the authorities. This process helps maintain transparency and fairness in property transactions.

Frequently asked questions

What is the current guideline value of Mahalakshmi Nagar 2nd Street?

The current guideline value of Mahalakshmi Nagar 2nd Street is Rs 3,850 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 3,500 per sq.ft in 2023 to Rs 3,850 per sq.ft in 2024, marking a 10% increase. It was Rs 2,345 per sq.ft in 2017, which means there was a 49% increase from 2017 to 2023.

What is the land classification for Mahalakshmi Nagar 2nd Street?

The land classification for Mahalakshmi Nagar 2nd Street is Commercial Class I Type - III.

Where can I find the Sub Registrar Office for Mahalakshmi Nagar 2nd Street?

The Sub Registrar Office for Mahalakshmi Nagar 2nd 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.

How is the stamp duty calculated for properties in Mahalakshmi Nagar 2nd Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 38,50,000, the stamp duty at 7% would be Rs 2,69,500, along with a registration fee of Rs 77,000, totaling Rs 3,46,500.