Guideline Value for MAHALAKSHMI NAGAR

Mahalakshmi Nagar guideline value

The current guideline value of Mahalakshmi Nagar is Rs 275 per sq.ft, effective from 1 July 2024. This locality is situated in Mappedu village under the Perambakkam SRO and is classified as Residential Class IV Type - I.

How the guideline value of Mahalakshmi Nagar has changed

The guideline value for Mahalakshmi Nagar has remained consistent at Rs 275 per sq.ft since the 2017 revision. The 2024 revision also reflects the same value, indicating no change in the guideline value over this period.

For the years 2023, 2012, 2007, 2003, and 2002, the register has no figure for this street. Therefore, the only revisions available are from 2017 and 2024, both standing at Rs 275 per sq.ft.

Guideline values in Mappedu

In Mappedu, there are nine streets under the Perambakkam SRO that carry a 2024 guideline value, ranging from Rs 234 to Rs 400 per sq.ft. The median value for these streets is Rs 275 per sq.ft, making Mahalakshmi Nagar's 2024 figure equal to this median.

• Gowri Pudra: Rs 275 per sq.ft (2024)
• Rose Garden: Rs 400 per sq.ft (2024)
• Sadasivam Nagar: Rs 275 per sq.ft (2024)
• Sri Dhanalakshmi Nagar: Rs 275 per sq.ft (2024)
• Sri Krishna Nagar: Rs 234 per sq.ft (2024)
• Sri Vigneshwara Nagar: Rs 268 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 275 per sq.ft, the total guideline value would be Rs 2,75,000. The stamp duty at 7% would amount to Rs 19,250, and the registration fee at 2% would be Rs 5,500, bringing the total charges to Rs 24,750. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can also use our stamp duty and registration fee calculator for more accurate calculations.

Which Sub Registrar Office covers Mahalakshmi Nagar?

The Sub Registrar Office that covers Mahalakshmi Nagar is the Perambakkam Sub Registrar Office, located at Jothi Ramalinga Nagar, Near Post Office, Perambakkam, 631402, Chennai registration zone.

To find your SRO, you can visit find your SRO.

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

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

When a property is registered, the guideline value is compared to the sale price. The higher of the two values is used to calculate the applicable fees, ensuring that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Mahalakshmi Nagar?

The current guideline value of Mahalakshmi Nagar is Rs 275 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 at Rs 275 per sq.ft since the 2017 revision. There are no figures available for the years 2023, 2012, 2007, 2003, and 2002.

What is the land classification for Mahalakshmi Nagar?

Mahalakshmi Nagar is classified as Residential Class IV Type - I, indicating its suitability for residential development.

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

The Sub Registrar Office covering Mahalakshmi Nagar is located at Jothi Ramalinga Nagar, Near Post Office, Perambakkam, 631402, Chennai registration zone.

How is the stamp duty calculated for properties in Mahalakshmi Nagar?

The stamp duty for properties in Mahalakshmi Nagar is calculated based on the higher of the guideline value or the sale price. For example, a 1,000 sq.ft plot at the guideline value of Rs 275 per sq.ft would incur a stamp duty of Rs 19,250.