Guideline Value for MAHALAKSHMI NAGAR

Mahalakshmi Nagar guideline value

The current guideline value of Mahalakshmi Nagar is Rs 3,000 per sq.ft, as per the 2023 revision. This area is located in Kilambakkam village under the Gooduvancheri SRO, and is classified as Commercial Class I Type - I land.

How the guideline value of Mahalakshmi Nagar has changed

Over the years, the guideline value for Mahalakshmi Nagar has remained stable. The register shows no figures for the years 2002, 2003, 2007, 2012, and 2017, indicating that there have been no recorded changes in the guideline value during those revisions. The most recent revision in 2023 established the current guideline value at Rs 3,000 per sq.ft.

Since there have been no changes in the guideline value between the revisions listed, the only figure available is from the 2023 revision. Thus, the guideline value has consistently remained at Rs 3,000 per sq.ft since its last recorded update.

Guideline values in Kilambakkam

Currently, there are no specific village figures provided for Kilambakkam. Mahalakshmi Nagar is the only street mentioned under this classification. Below are other streets in Kilambakkam:

Stamp duty and registration fee for property in Mahalakshmi Nagar

For a 1,000 sq.ft plot at the current rate of Rs 3,000 per sq.ft, the guideline value amounts to Rs 30,00,000. The stamp duty at 7% would be Rs 2,10,000, and the registration fee at 2% would be Rs 60,000, bringing the total to Rs 2,70,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Mahalakshmi Nagar?

The Mahalakshmi Nagar area is covered by the Gooduvancheri Sub Registrar Office, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvanchery-603202, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor when registering property in Kilambakkam. It determines the minimum value at which a property can be registered, ensuring that the government receives appropriate stamp duty and registration fees based on this value.

When buying or selling property, the guideline value serves as a benchmark for the transaction. Buyers should be aware that the stamp duty is calculated based on the higher of the guideline value or the sale price, which can impact the overall cost of the transaction.

Frequently asked questions

What is the current guideline value of Mahalakshmi Nagar?

The current guideline value of Mahalakshmi Nagar is Rs 3,000 per sq.ft, as per the 2023 revision.

How has the guideline value changed over the years?

The guideline value has remained unchanged since the 2023 revision, with no figures available for the years 2002, 2003, 2007, 2012, and 2017.

What land classification is Mahalakshmi Nagar?

Mahalakshmi Nagar is classified as Commercial Class I Type - I land, which indicates its designated use for commercial purposes.

Where is the Gooduvancheri SRO located?

The Gooduvancheri Sub Registrar Office is located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvanchery-603202, in the Chengalpattu registration zone.

How is stamp duty calculated for property in Mahalakshmi Nagar?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a 1,000 sq.ft plot at Rs 3,000 per sq.ft, the total guideline value would be Rs 30,00,000, leading to a stamp duty of Rs 2,10,000.