Guideline Value for MAHALAKSHMI NAGAR

Mahalakshmi Nagar guideline value

The current guideline value of Mahalakshmi Nagar is Rs 100 per sq.ft, effective from 1 July 2024. This street is located in Melmaligaipattu village under the Arani_Tiruvallur SRO, classified as Residential Class IV Type - I.

How the guideline value of Mahalakshmi Nagar has changed

The guideline value for Mahalakshmi Nagar has undergone several revisions over the years. The 2017 revision set the value at Rs 60 per sq.ft, which increased to Rs 100 per sq.ft in the 2023 revision. The 2024 revision maintains this value at Rs 100 per sq.ft, showing no change from the previous year.

From 2017 to 2023, the guideline value increased by 67%. Overall, from 2017 to 2024, the increase remains at 67%, indicating a significant change in the value over this period. The register has no figures for the years 2002, 2003, 2007, and 2012 for this street.

Guideline values in Melmaligaipattu

In Melmaligaipattu, there are four streets under the Arani_Tiruvallur SRO with a 2024 guideline value ranging from Rs 100 to Rs 130 per sq.ft. The median value for these streets is Rs 115 per sq.ft, placing Mahalakshmi Nagar's value below this median.

• Lakshmi Yoga Ganapathy Nagar: Rs 130 per sq.ft (2024)
• S.B. Brindhavan Phase-IV: Rs 130 per sq.ft (2024)
• Shakthi Nagar: 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 rate of Rs 100 per sq.ft, the guideline value amounts to Rs 1,00,000. The stamp duty at 7% would be Rs 7,000, and the registration fee at 2% would be Rs 2,000, totaling Rs 9,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Mahalakshmi Nagar?

The Mahalakshmi Nagar area falls under the jurisdiction of the Arani_Tiruvallur Sub Registrar Office, located at No.10, S.p Kovil Street, Arani, Ponneri(tk), Thiruvallur(dt) - 601 101. You can find your SRO for more details.

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

The guideline value is a crucial factor during property registration in Melmaligaipattu. It serves as a benchmark for calculating stamp duty and registration fees, ensuring that these fees are based on a standardized value rather than the sale price alone.

When buying or selling property, the guideline value helps both parties understand the financial implications of the transaction. It is essential to consider this value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Mahalakshmi Nagar?

The current guideline value of Mahalakshmi Nagar is Rs 100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 60 per sq.ft in 2017 to Rs 100 per sq.ft in both the 2023 and 2024 revisions, reflecting a 67% increase over this period.

What are the other streets in Melmaligaipattu and their guideline values?

Other streets in Melmaligaipattu include Lakshmi Yoga Ganapathy Nagar at Rs 130 per sq.ft, S.B. Brindhavan Phase-IV at Rs 130 per sq.ft, and Shakthi Nagar at Rs 100 per sq.ft for the year 2024.

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

For a 1,000 sq.ft plot at the current guideline value, the total stamp duty and registration fees would amount to Rs 9,000, calculated based on the guideline value of Rs 1,00,000.

Which office handles the registration for Mahalakshmi Nagar?

The Arani_Tiruvallur Sub Registrar Office handles the registration for Mahalakshmi Nagar, located at No.10, S.p Kovil Street, Arani, Ponneri(tk), Thiruvallur(dt) - 601 101.