Guideline Value for MAHALAKSHMI NAGAR EXTENSION V

Mahalakshmi Nagar Extension V guideline value

The current guideline value of Mahalakshmi Nagar Extension V is Rs 3,190 per sq.ft, effective from 1 July 2024. This property is located in Perumalagaram village and falls under the Chennai South Joint II SRO. The land classification for this area is Residential Class V Type - I.

How the guideline value of Mahalakshmi Nagar Extension V has changed

Over the years, the guideline value for Mahalakshmi Nagar Extension V has seen several revisions. The 2012 revision set the value at Rs 2,900 per sq.ft, which was then reduced to Rs 1,943 per sq.ft in the 2017 revision. Following this, the value increased significantly to Rs 2,900 per sq.ft in 2023, before reaching the current rate of Rs 3,190 per sq.ft in 2024.

From 2017 to 2023, the guideline value increased by 49%. The 2023 to 2024 revision saw a 10% increase. Overall, from 2012 to 2024, the guideline value has increased by 10%. It is important to note that there are no figures available for the years 2002, 2003, and 2007 for this street.

Guideline values in Perumalagaram

In Perumalagaram, there are 74 streets under the Chennai South Joint II SRO that carry a 2024 guideline value ranging from Rs 825 to Rs 7,920 per sq.ft. The median guideline value is Rs 3,190 per sq.ft, which is equal to the current rate for Mahalakshmi Nagar Extension V.

• Mahalakshmi Nagar Extension VI: Rs 3,190 per sq.ft (2024)
• Mahalakshmi Nagar Extension IV: Rs 3,190 per sq.ft (2024)
• Mahalakshmi Nagar Extension III: Rs 3,190 per sq.ft (2024)
• Mahalakshmi Nagar Extension II: Rs 3,190 per sq.ft (2024)
• Mahalakshmi Nagar Extension I: Rs 3,190 per sq.ft (2024)
• Mahalakshmi Street: Rs 3,190 per sq.ft (2024)

Stamp duty and registration fee for property in Mahalakshmi Nagar Extension V

For a 1,000 sq.ft plot at the current guideline value of Rs 3,190 per sq.ft, the total guideline value amounts to Rs 31,90,000. The stamp duty at 7% would be Rs 2,23,300, and the registration fee at 2% would be Rs 63,800, bringing the total cost to Rs 2,87,100. Please note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Mahalakshmi Nagar Extension V?

The Sub Registrar Office that covers Mahalakshmi Nagar Extension V 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 information.

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

The guideline value is an essential factor in the registration process of property transactions in Perumalagaram. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring transparency and standardization in property dealings.

When buying or selling property, the guideline value will influence the stamp duty and registration fees payable. It is crucial for buyers and sellers to be aware of the current guideline value to avoid discrepancies during the registration process.

Frequently asked questions

What is the current guideline value for Mahalakshmi Nagar Extension V?

The current guideline value for Mahalakshmi Nagar Extension V is Rs 3,190 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,900 per sq.ft in 2012 to Rs 1,943 per sq.ft in 2017, then increased to Rs 2,900 per sq.ft in 2023, and finally reached Rs 3,190 per sq.ft in 2024.

What are the other streets in Perumalagaram with the same guideline value?

Other streets in Perumalagaram that share the same guideline value of Rs 3,190 per sq.ft include Mahalakshmi Nagar Extension I, II, III, IV, VI, and Mahalakshmi Street.

What is the registration fee for property in Mahalakshmi Nagar Extension V?

The registration fee for property in Mahalakshmi Nagar Extension V is calculated at 2% of the guideline value. For a property valued at Rs 31,90,000, the registration fee would be Rs 63,800.

Where can I find my Sub Registrar Office?

You can find your Sub Registrar Office by visiting 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. More details can be found by using the provided link.