Guideline Value for MAHALAKSHMI NAGAR

Mahalakshmi Nagar guideline value

The current guideline value of Mahalakshmi Nagar is Rs 200 per sq.ft, effective from 1 July 2024. This area is located in Sirunallur village under the Madurandakam SRO, classified as Residential Special Type - I.

How the guideline value of Mahalakshmi Nagar has changed

Over the years, the guideline value of Mahalakshmi Nagar has seen several revisions. The 2012 revision set the value at Rs 200 per sq.ft, which remained unchanged until the 2017 revision when it dropped to Rs 134 per sq.ft. The value then increased to Rs 200 per sq.ft in the 2023 revision and has remained the same in the 2024 revision, indicating a 0% change between 2023 and 2024. The overall change from 2012 to 2024 is also 0%.

Between the 2017 and 2023 revisions, there was a significant increase of 49%. However, the 2012 to 2017 period saw a decrease of 33%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Sirunallur

In Sirunallur village, there are 16 streets under the Madurandakam SRO that carry a 2024 guideline value, ranging from Rs 100 to Rs 400 per sq.ft. The median value among these streets is Rs 175 per sq.ft, placing Mahalakshmi Nagar's 2024 figure above that median.

• Maharishi Vedhathiri Nagar: Rs 102 per sq.ft (2024)
• Ram Nagar: Rs 250 per sq.ft (2024)
• Dhanabakkiyam Nagar: Rs 300 per sq.ft (2024)
• Sai Serveshwara Garden: Rs 250 per sq.ft (2024)
• Shakthi Nagar: Rs 102 per sq.ft (2024)
• Sma Nagar Part-II: Rs 100 per sq.ft (2024)

Stamp duty and registration fee for property in Mahalakshmi Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 200 per sq.ft, the total guideline value amounts to Rs 2,00,000. The stamp duty at 7% would be Rs 14,000, and the registration fee at 2% would be Rs 4,000, totaling Rs 18,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Mahalakshmi Nagar?

The Mahalakshmi Nagar area is covered by the Madurandakam Sub Registrar Office, located at No.53, Old Taluk Office Road, Maduranthakam-603306, Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value is a crucial factor in the property registration process in Sirunallur. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, the guideline value helps both parties understand the official valuation of the property. This value is used to calculate the stamp duty and registration fees, which are mandatory expenses in any property transaction.

Frequently asked questions

What is the current guideline value of Mahalakshmi Nagar?

The current guideline value of Mahalakshmi Nagar is Rs 200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has remained at Rs 200 per sq.ft since 2012, with a decrease to Rs 134 per sq.ft in 2017, followed by an increase back to Rs 200 per sq.ft in 2023 and 2024.

What are the other streets in Sirunallur with their guideline values?

Other streets in Sirunallur include Maharishi Vedhathiri Nagar at Rs 102 per sq.ft, Ram Nagar at Rs 250 per sq.ft, Dhanabakkiyam Nagar at Rs 300 per sq.ft, Sai Serveshwara Garden at Rs 250 per sq.ft, Shakthi Nagar at Rs 102 per sq.ft, and Sma Nagar Part-II at Rs 100 per sq.ft.

What are the stamp duty and registration fees for property in Mahalakshmi Nagar?

For a 1,000 sq.ft plot at the guideline value of Rs 200 per sq.ft, the total guideline value is Rs 2,00,000. The stamp duty would be Rs 14,000 and the registration fee would be Rs 4,000, totaling Rs 18,000.

Where is the Sub Registrar Office for Mahalakshmi Nagar located?

The Madurandakam Sub Registrar Office covers Mahalakshmi Nagar and is located at No.53, Old Taluk Office Road, Maduranthakam-603306, Chengalpattu registration zone.