Guideline Value

Corporate

Guideline Value for MAHALAKSHMI NAGAR

₹3850/sq.ft.

The guideline value for Mahalakshmi Nagar in Karambakkam village (Chennai South Joint I SRO, Chennai zone) is Rs 3850 per sq.ft, effective 1 July 2024. It was Rs 3500 per sq.ft from 1 April 2023, a 10% change. The land classification is Commercial Class I Type - Iii. Source: TNReginet guideline value register.

Last updated:

Chennai

Zone

Karambakkam

Village

Chennai South Joint I

SRO

Commercial Class I Type - III
History
Period Guideline Value
From 1-7-2024 ₹3850 /sq.ft.
From 1-4-2023 ₹3500 /sq.ft.
From 9-6-2017 To 31-3-2023 ₹2345 /sq.ft.
From 1-4-2012 To 8-6-2017 ₹3500 /sq.ft.
From 1-8-2007 To 31-3-2012 ₹500 /sq.ft.
From 1-4-2003 To 31-7-2007 ₹324 /sq.ft.
From 1-4-2002 To 31-3-2003 ₹282 /sq.ft.
Guideline Value Timeline
Guideline Value Comparison

SRO (Sub Registrar Office)

Integrated Building For Offices Of The Commerrcial Taxes And Registrations Department ,fanepet Nandanam ,chennai -600 035
044-29510536
[email protected]

DRO (District Registrar Office)

Integrated Building For Offices Of The Commercial Taxes And Registration Department, Fanepet, Nandhanam, Chennai - 35.
044-22505552
[email protected], [email protected]

DIG (Deputy Inspector General)

Integrated Building For Offices Of The Commercial Taxes And Registration, Department Fanepet, Nandanam, Chennai - 600 035.
044-29510527
[email protected]
Records for a plot on Mahalakshmi Nagar

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Mahalakshmi Nagar guideline value

The current guideline value of Mahalakshmi Nagar, located in Karambakkam village, is Rs 3,850 per sq.ft, effective from 1 July 2024. This area falls under the Chennai South Joint I SRO and is classified as Commercial Class I Type - III.

How the guideline value of Mahalakshmi Nagar has changed

The guideline value for Mahalakshmi Nagar has undergone several revisions over the years. In 2002, the value was Rs 282 per sq.ft, which increased to Rs 324 per sq.ft in 2003, marking a 15% rise. The value then saw a significant increase to Rs 500 per sq.ft in 2007, representing a 54% change. By 2012, the value rose to Rs 3,500 per sq.ft, reflecting a substantial 600% increase from the previous revision. However, between 2012 and 2017, the value decreased to Rs 2,345 per sq.ft, showing a decline of 33%. The value then increased again to Rs 3,500 per sq.ft in 2023, and in the most recent revision for 2024, it stands at Rs 3,850 per sq.ft, a 10% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 1,265%. There are no figures available for the revisions in years not listed for this street.

Guideline values in Karambakkam

In Karambakkam, there are 159 streets under the Chennai South Joint I SRO that carry a 2024 guideline value ranging from Rs 1,100 to Rs 5,500 per sq.ft. The median value is Rs 1,930 per sq.ft, placing Mahalakshmi Nagar's 2024 guideline value above this median.

Stamp duty and registration fee for property in Mahalakshmi Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 3,850 per sq.ft, the total guideline value amounts to Rs 38,50,000. The stamp duty at 7% would be Rs 2,69,500, and the registration fee at 2% would be Rs 77,000, bringing the total to Rs 3,46,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Mahalakshmi Nagar?

The Sub Registrar Office that covers Mahalakshmi Nagar is the Chennai South Joint I 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 Karambakkam

The guideline value plays a crucial role in the registration process of property transactions in Karambakkam. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring that transactions are conducted transparently and fairly.

When buying or selling property, the guideline value is used to calculate the applicable stamp duty and registration fees. Buyers should be aware that these fees are based on the higher of the guideline value or the actual sale price, which helps maintain consistency in property transactions.

Frequently asked questions

What is the current guideline value of Mahalakshmi Nagar?

The current guideline value of Mahalakshmi Nagar is Rs 3,850 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 282 per sq.ft in 2002 to Rs 3,850 per sq.ft in 2024, reflecting an overall increase of 1,265% over the years.

What are the other streets in Karambakkam with similar guideline values?

Other streets in Karambakkam with a guideline value of Rs 3,850 per sq.ft include Mahalakshmi Nagar 1st Street, Mahalakshmi Nagar 2nd Street, Mahalakshmi Nagar Main Road, and Mahalskhmi Nagar Main Road.

How is stamp duty calculated for properties in Mahalakshmi Nagar?

Stamp duty for properties in Mahalakshmi Nagar is calculated at 7% of the guideline value or the sale price, whichever is higher. Additionally, a registration fee of 2% is applicable.

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

The Sub Registrar Office for Mahalakshmi Nagar is located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035. You can find more information online.