Guideline Value for Mahalakshmi Avenue

Mahalakshmi Avenue guideline value

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

How the guideline value of Mahalakshmi Avenue has changed

In the 2023 revision, the guideline value for Mahalakshmi Avenue was Rs 250 per sq.ft. This marked a significant increase to Rs 1,004 per sq.ft in the 2024 revision, reflecting a change of +302%. The register has no figures for the years 2002, 2003, 2007, 2012, and 2017 for this street.

The most recent revision in 2024 shows a substantial increase compared to the previous year's figure. The transition from Rs 250 to Rs 1,004 indicates a notable adjustment in the guideline value for this area.

Guideline values in Ariyalur

Ariyalur village has 24 streets under the Redhills SRO with a 2024 guideline value ranging from Rs 1,002 to Rs 1,008 per sq.ft. The median guideline value for these streets is Rs 1,002 per sq.ft, placing Mahalakshmi Avenue's 2024 figure above that median.

• Mahalakshmi Avenue Part - 1: 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

For a 1,000 sq.ft plot at the current guideline value of Rs 1,004 per sq.ft, the total 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, bringing the total charges to 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 the stamp duty and registration fee calculator for more precise calculations based on your property details.

Which Sub Registrar Office covers Mahalakshmi Avenue?

The Mahalakshmi Avenue area falls under the jurisdiction of 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 factor in property transactions in Ariyalur, as it determines the minimum value at which properties can be registered. When buying or selling a property, the registration office will use the guideline value to calculate the applicable stamp duty and registration fees.

It is essential for buyers and sellers to be aware of the current guideline value to ensure compliance with legal requirements during the registration process. This value serves as a benchmark for property transactions in the area.

Frequently asked questions

What is the current guideline value of Mahalakshmi Avenue?

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

How much has the guideline value changed recently?

The guideline value increased from Rs 250 per sq.ft in 2023 to Rs 1,004 per sq.ft in 2024, representing a change of +302%.

Are there any previous revisions for Mahalakshmi Avenue?

The register has no figures for Mahalakshmi Avenue in the years 2002, 2003, 2007, 2012, and 2017.

What are the stamp duty and registration fees for properties in Mahalakshmi Avenue?

For a 1,000 sq.ft plot at the current guideline value, the total guideline value is Rs 10,04,000. The stamp duty at 7% is Rs 70,280, and the registration fee at 2% is Rs 20,080, totaling Rs 90,360.

Which office handles registrations for Mahalakshmi Avenue?

The Redhills Sub Registrar Office handles registrations for Mahalakshmi Avenue, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.