Guideline Value

Corporate

Guideline Value for MAHALAKSHMI NAGAR

₹880/sq.ft.

The guideline value for Mahalakshmi Nagar in Koladi village (Chennai South Joint Ii SRO, Chennai zone) is Rs 880 per sq.ft, effective 1 July 2024. It was Rs 800 per sq.ft from 1 April 2023, a 10% change. The land classification is Residential Class Ii Type - Ii. Source: TNReginet guideline value register.

Last updated:

Chennai

Zone

Koladi

Village

Chennai South Joint II

SRO

Residential Class II Type - II
History
Period Guideline Value
From 1-7-2024 ₹880 /sq.ft.
From 1-4-2023 ₹800 /sq.ft.
From 9-6-2017 To 31-3-2023 ₹536 /sq.ft.
From 1-4-2012 To 8-6-2017 ₹800 /sq.ft.
From 1-8-2007 To 31-3-2012 ₹200 /sq.ft.
From 1-4-2003 To 31-7-2007 N/A
From 1-4-2002 To 31-3-2003 N/A
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
044-29510538
[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 Koladi village under the Chennai South Joint II SRO, is Rs 880 per sq.ft, effective from 1 July 2024. The land classification for this area is Residential Class II Type - II.

How the guideline value of Mahalakshmi Nagar has changed

Over the years, the guideline value of Mahalakshmi Nagar has seen several revisions. The 2007 revision recorded a value of Rs 200 per sq.ft, which increased significantly to Rs 800 per sq.ft in 2012, marking a 300% rise. However, this was followed by a decrease to Rs 536 per sq.ft in 2017, representing a drop of 33%. The value then rose to Rs 800 per sq.ft in 2023, and further increased by 10% to the current Rs 880 per sq.ft in 2024.

From 2017 to 2023, there was a substantial increase of 49%. Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 340%. It is important to note that the revisions for the years 2002 and 2003 do not have any figures recorded for this street.

Guideline values in Koladi

In Koladi, there are 175 streets under the Chennai South Joint II SRO that carry a 2024 guideline value ranging from Rs 660 to Rs 4,000 per sq.ft. The median guideline value for these streets is Rs 1,100 per sq.ft, indicating that the guideline value of Mahalakshmi Nagar is below 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 880 per sq.ft, the total guideline value would be Rs 8,80,000. The stamp duty at 7% would amount to Rs 61,600, and the registration fee at 2% would be Rs 17,600, leading to a total of Rs 79,200. 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 Chennai South Joint II 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 details.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Koladi. It serves as a benchmark for determining the stamp duty and registration fees that are applicable to the transaction.

When a property is sold, the buyer must pay stamp duty based on the guideline value or the sale price, whichever is higher. This ensures that the government receives revenue based on the property's assessed value, reflecting its worth in the market.

Frequently asked questions

What is the current guideline value of Mahalakshmi Nagar?

The current guideline value of Mahalakshmi Nagar is Rs 880 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 200 per sq.ft in 2007 to Rs 880 per sq.ft in 2024, showing an overall increase of 340% across the years.

What is the land classification for Mahalakshmi Nagar?

The land classification for Mahalakshmi Nagar is Residential Class II Type - II, indicating its suitability for residential development.

What are the stamp duty rates for property in Mahalakshmi Nagar?

The stamp duty rate for property transactions in Mahalakshmi Nagar is 7% of the guideline value, and the registration fee is 2% of the guideline value.

Where is the Sub Registrar Office for Mahalakshmi Nagar located?

The Sub Registrar Office covering Mahalakshmi Nagar is located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035.