Guideline Value for Mahalakshmi Nagar (Phase-II) in Eden Garden

Mahalakshmi Nagar (Phase-II) in Eden Garden guideline value

The current guideline value of Mahalakshmi Nagar (Phase-II) in Eden Garden is Rs 1,300 per sq.ft, effective from 1 July 2024. This property is located in Sethupattu village and falls under the Sriperumpudur SRO. The land classification for this area is Residential Special Type - IV.

How the guideline value of Mahalakshmi Nagar (Phase-II) in Eden Garden has changed

The guideline value for Mahalakshmi Nagar (Phase-II) has remained consistent at Rs 1,300 per sq.ft since the 2023 revision, which also recorded the same figure. Prior to this, there are no figures available in the register for the years 2017, 2012, 2007, 2003, and 2002.

In summary, the guideline value has not changed between the 2023 and 2024 revisions, reflecting a stable valuation at Rs 1,300 per sq.ft. The lack of figures for earlier years indicates that this street has not been reassessed during those periods.

Guideline values in Sethupattu

In Sethupattu, there are 23 streets under the Sriperumpudur SRO that carry a 2024 guideline value, ranging from Rs 150 to Rs 1,500 per sq.ft. The median guideline value for these streets is Rs 300 per sq.ft, placing Mahalakshmi Nagar (Phase-II) above this median value.

• Mahalakshmi Nagar (Phase-I) (EDEN GARDEN): Rs 1,300 per sq.ft (2024)
• Maruthi Nagar: Rs 250 per sq.ft (2024)
• Highway Avenue: Rs 200 per sq.ft (2024)
• Perumal Koil Street: Rs 250 per sq.ft (2024)
• Green City: Rs 1,500 per sq.ft (2024)
• P.S.Nagar: Rs 250 per sq.ft (2024)

Stamp duty and registration fee for property in Mahalakshmi Nagar (Phase-II) in Eden Garden

For a 1,000 sq.ft plot at the current guideline value of Rs 1,300 per sq.ft, the total guideline value is Rs 13,00,000. The stamp duty at 7% would be Rs 91,000, and the registration fee at 2% would be Rs 26,000, resulting in a total of Rs 1,17,000 for these charges. Please note that the duty is charged on the higher of the guideline value and the sale price.

You can use our stamp duty and registration fee calculator for more details on fees applicable to your property transaction.

Which Sub Registrar Office covers Mahalakshmi Nagar (Phase-II) in Eden Garden?

The Sub Registrar Office that covers Mahalakshmi Nagar (Phase-II) in Eden Garden is the Sriperumpudur Sub Registrar Office, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions within Sethupattu, as it determines the minimum value at which a property can be registered. When a buyer or seller engages in a transaction, the guideline value helps in assessing the applicable stamp duty and registration fees.

During the registration process, the buyer must ensure that the sale price is at least equal to the guideline value. If the sale price is lower than the guideline value, the duty will be charged based on the guideline value, ensuring that the government receives the appropriate revenue from the transaction.

Frequently asked questions

What is the current guideline value of Mahalakshmi Nagar (Phase-II)?

The current guideline value of Mahalakshmi Nagar (Phase-II) in Eden Garden is Rs 1,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has remained consistent at Rs 1,300 per sq.ft since the 2023 revision. There are no figures available for the years 2017, 2012, 2007, 2003, and 2002.

What is the land classification for Mahalakshmi Nagar (Phase-II)?

The land classification for Mahalakshmi Nagar (Phase-II) in Eden Garden is Residential Special Type - IV, indicating its designated use for residential purposes.

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

For a property valued at Rs 13,00,000, the stamp duty would be Rs 91,000 and the registration fee would be Rs 26,000, totaling Rs 1,17,000. These fees are calculated based on the guideline value or the sale price, whichever is higher.

Where can I find the Sub Registrar Office for Mahalakshmi Nagar (Phase-II)?

The Sub Registrar Office for Mahalakshmi Nagar (Phase-II) is located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone. You can visit the office for registration-related queries.