Guideline Value for Mahalakshmi Avenue Part - 1

Mahalakshmi Avenue Part - 1 guideline value

The current guideline value of Mahalakshmi Avenue Part - 1 is Rs 1,004 per sq.ft, effective from 1 July 2024. This street is located in Ariyalur village under the Redhills SRO, classified as Residential Class II Type - I.

How the guideline value of Mahalakshmi Avenue Part - 1 has changed

The guideline value register for Mahalakshmi Avenue Part - 1 does not have figures for the years 2002, 2003, 2007, 2012, and 2017. In the 2023 revision, the guideline value was Rs 250 per sq.ft. This figure saw a significant increase of 302% in the 2024 revision, bringing the current value to Rs 1,004 per sq.ft.

The substantial change from the 2023 to the 2024 revision reflects a notable adjustment in the guideline value for this street. The 2024 value is considerably higher than the previous year's figure, indicating a significant shift in the valuation for Mahalakshmi Avenue Part - 1.

Guideline values in Ariyalur

Ariyalur village has 24 streets under the Redhills SRO that carry a 2024 guideline value, ranging from Rs 1,002 to Rs 1,008 per sq.ft, with a median value of Rs 1,002 per sq.ft. Mahalakshmi Avenue Part - 1's current figure of Rs 1,004 per sq.ft is above this median.

• Mahalakshmi Avenue: Rs 1,004 per sq.ft (2024)
• Navaneetha Kuppusamy Nagar: Rs 1,002 per sq.ft (2024)
• Peria Muthu Nagar: Rs 1,004 per sq.ft (2024)
• Iswariya Nagar (Indian Bank Staff Colony): Rs 1,004 per sq.ft (2024)
• Periyar Nagar Colony Main Street: Rs 1,002 per sq.ft (2024)
• Perumal Koil Street: Rs 1,002 per sq.ft (2024)

Stamp duty and registration fee for property in Mahalakshmi Avenue Part - 1

For a 1,000 sq.ft plot at the current rate of Rs 1,004 per sq.ft, the guideline value amounts to Rs 10,04,000. The stamp duty at 7% would be Rs 70,280, and the registration fee at 2% would be Rs 20,080, totaling Rs 90,360. It is 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 precise calculations.

Which Sub Registrar Office covers Mahalakshmi Avenue Part - 1?

The Sub Registrar Office covering Mahalakshmi Avenue Part - 1 is the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052. You can find your SRO for more information.

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

The guideline value is a crucial reference point when registering property transactions in Ariyalur. It determines the minimum value at which properties are assessed for taxation purposes, ensuring that the correct stamp duty and registration fees are calculated.

Frequently asked questions

What is the current guideline value of Mahalakshmi Avenue Part - 1?

The current guideline value of Mahalakshmi Avenue Part - 1 is Rs 1,004 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed recently?

In the 2023 revision, the guideline value was Rs 250 per sq.ft, which increased by 302% to Rs 1,004 per sq.ft in the 2024 revision.

What is the land classification for Mahalakshmi Avenue Part - 1?

Mahalakshmi Avenue Part - 1 is classified as Residential Class II Type - I.

What is the registration office for Mahalakshmi Avenue Part - 1?

The registration office for Mahalakshmi Avenue Part - 1 is the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.

How is stamp duty calculated for properties in Mahalakshmi Avenue Part - 1?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot, the total stamp duty and registration fees would amount to Rs 90,360 based on the current guideline value.