Guideline Value for Mahalakshmi Avenue

Mahalakshmi Avenue guideline value

The current guideline value of Mahalakshmi Avenue is Rs 1,320 per sq.ft, effective from 1 July 2024. This street is located in Thirumudivakkam village under the Padappai SRO and is classified as Residential Special Type - I.

How the guideline value of Mahalakshmi Avenue has changed

The guideline value for Mahalakshmi Avenue has seen several revisions over the years. The earliest recorded revision was in 2012, when the value was Rs 1,200 per sq.ft. This figure was revised to Rs 804 per sq.ft in 2017, marking a decrease of 33%. However, from 2017 to 2023, the value increased significantly to Rs 1,200 per sq.ft, which was a rise of 49%. The most recent revision in 2024 brought the value to Rs 1,320 per sq.ft, reflecting a 10% increase from the previous year.

There are no recorded figures for the years 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Thirumudivakkam

In Thirumudivakkam, there are 56 streets under the Padappai SRO that carry a 2024 guideline value, ranging from Rs 660 to Rs 3,860 per sq.ft. The median value for these streets is Rs 1,320 per sq.ft, which is the same as the guideline value for Mahalakshmi Avenue.

• Maha Kavi Bharathi Nagar: Rs 1,320 per sq.ft (2024)
• Mahadevan Street: Rs 1,320 per sq.ft (2024)
• Mahalakshmi Nagar: Rs 1,320 per sq.ft (2024)
• Mangalapuri: Rs 1,320 per sq.ft (2024)
• Lakshmi Nagar: Rs 660 per sq.ft (2024)
• Lakshmi Avenue: Rs 1,320 per sq.ft (2024)

Stamp duty and registration fee for property in Mahalakshmi Avenue

For a 1,000 sq.ft plot at the current guideline value of Rs 1,320 per sq.ft, the total guideline value amounts to Rs 13,20,000. The stamp duty at 7% would be Rs 92,400, and the registration fee at 2% would be Rs 26,400, bringing the total cost for these fees to Rs 1,18,800. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more detailed calculations, you can use our stamp duty and registration fee calculator.

Which Sub Registrar Office covers Mahalakshmi Avenue?

The Sub Registrar Office that covers Mahalakshmi Avenue is the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor when registering property transactions in Thirumudivakkam. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the sale or purchase of property.

When a property is sold, the guideline value is used to calculate the applicable fees, ensuring that both buyers and sellers are aware of the financial obligations involved in the transaction. This process helps maintain transparency and standardization in property dealings.

Frequently asked questions

What is the current guideline value of Mahalakshmi Avenue?

The current guideline value of Mahalakshmi Avenue is Rs 1,320 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,200 per sq.ft in 2012 to Rs 804 per sq.ft in 2017, then to Rs 1,200 per sq.ft in 2023, and finally to Rs 1,320 per sq.ft in 2024.

What is the land classification for Mahalakshmi Avenue?

Mahalakshmi Avenue is classified as Residential Special Type - I.

What are the stamp duty and registration fees for this property?

For a property valued at Rs 13,20,000, the stamp duty would be Rs 92,400 and the registration fee would be Rs 26,400, totaling Rs 1,18,800.

Where is the Sub Registrar Office located for Mahalakshmi Avenue?

The Padappai Sub Registrar Office is located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone.