Guideline Value for MAHALAKSHMI NAGAR

Mahalakshmi Nagar guideline value

The current guideline value of Mahalakshmi Nagar is Rs 1,493 per sq.ft, effective from 1 July 2024. This area is located in Oothivakkam village under the Thiruporur SRO, classified as Mixed Special Type - II.

How the guideline value of Mahalakshmi Nagar has changed

According to the guideline value register, the figures for Mahalakshmi Nagar have remained consistent at Rs 1,493 per sq.ft for both the 2023 and 2024 revisions. Prior to this, there are no figures available for the years 2002, 2003, 2007, 2012, and 2017 in the register.

This indicates that there has been no change in the guideline value from 2023 to 2024, reflecting a stable valuation for this street over the past two years.

Guideline values in Oothivakkam

In Oothivakkam, there are 20 streets under the Thiruporur SRO that carry a 2024 guideline value ranging from Rs 200 to Rs 1,792 per sq.ft. The median value for these streets is Rs 825 per sq.ft, placing Mahalakshmi Nagar above that median.

• Pasumai Nagar: Rs 250 per sq.ft (2024)
• Pristine Hill Breese Avenue Phase I: Rs 500 per sq.ft (2024)
• Sai Baba Garden: Rs 250 per sq.ft (2024)
• ShreeRaksha Garden: Rs 1,350 per sq.ft (2024)
• A.K.City: Rs 1,300 per sq.ft (2024)
• Sri Sathya Sai Nagar: Rs 1,000 per sq.ft (2024)

Stamp duty and registration fee for property in Mahalakshmi Nagar

For a 1,000 sq.ft plot at the current rate of Rs 1,493 per sq.ft, the guideline value amounts to Rs 14,93,000. The stamp duty at 7% would be Rs 1,04,510, and the registration fee at 2% would be Rs 29,860, totaling Rs 1,34,370. It's important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator for more accurate estimations based on your specific property details.

Which Sub Registrar Office covers Mahalakshmi Nagar?

The Mahalakshmi Nagar area falls under the Thiruporur Sub Registrar Office, located at No.29, South Mada Street, Thiruporur-603110, Chengalpattu registration zone. For more information, you can find your SRO.

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

The guideline value is a crucial factor during the registration of property transactions in Oothivakkam. It serves as the minimum value on which stamp duty and registration fees are calculated, ensuring that the government receives appropriate revenue from property sales.

When buying or selling property, it is essential to be aware of the current guideline value, as it impacts the overall cost of the transaction. Buyers should ensure that the sale price is at least equal to the guideline value to avoid any legal complications during registration.

Frequently asked questions

What is the current guideline value of Mahalakshmi Nagar?

The current guideline value of Mahalakshmi Nagar is Rs 1,493 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value for Mahalakshmi Nagar has remained unchanged at Rs 1,493 per sq.ft for the 2023 and 2024 revisions. There are no figures available for the years 2002, 2003, 2007, 2012, and 2017.

What is the land classification of Mahalakshmi Nagar?

Mahalakshmi Nagar is classified as Mixed Special Type - II, which is a designation used to categorize the type of land use in the area.

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

For a property valued at Rs 14,93,000, the stamp duty would be Rs 1,04,510 and the registration fee would be Rs 29,860, totaling Rs 1,34,370. These fees are based on the guideline value or the sale price, whichever is higher.

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

The Thiruporur Sub Registrar Office covers Mahalakshmi Nagar and is located at No.29, South Mada Street, Thiruporur-603110, Chengalpattu registration zone.