Guideline Value for Mahalakshmi Nagar 11th Street, Brindhavan Nagar

Mahalakshmi Nagar 11th Street, Brindhavan Nagar guideline value

The current guideline value of Mahalakshmi Nagar 11th Street, Brindhavan Nagar is Rs 4,400 per sq.ft, effective from 1 July 2024. This street is located in Velachery village under the Velacheri SRO, and it falls under the Residential Class II Type - II land classification.

How the guideline value of Mahalakshmi Nagar 11th Street, Brindhavan Nagar has changed

The guideline value for Mahalakshmi Nagar 11th Street has undergone significant changes over the years. In the 2017 revision, the value was Rs 2,680 per sq.ft. The latest revision in 2024 has increased this to Rs 4,400 per sq.ft, marking a change of +64% from the previous figure.

There are no figures available for this street in the revisions for the years 2023, 2012, 2007, 2003, and 2002. The absence of figures in these years indicates that the guideline value remained unregistered for this particular street during those periods.

Guideline values in Velachery

In Velachery, there are 2,691 streets under the Velacheri SRO that carry a 2024 guideline value, ranging from Rs 3,300 to Rs 13,200 per sq.ft. The median value across these streets is Rs 4,400 per sq.ft, which is the same as the guideline value for Mahalakshmi Nagar 11th Street.

• Mahalakshmi Nagar 11th Street: Rs 4,400 per sq.ft (2024)
• Mahalakshmi Nagar 12th Cross Street: Rs 4,400 per sq.ft (2024)
• Mahalakshmi Nagar 11th Cross Street: Rs 4,400 per sq.ft (2024)
• Mahalakshmi Nagar 12th Street: Rs 4,400 per sq.ft (2024)
• Mahalakshmi Nagar 10th Street, Brindhavan Nagar: Rs 4,400 per sq.ft (2024)
• Mahalakshmi Nagar 12th Street, Brindhavan Nagar: Rs 4,400 per sq.ft (2024)

Stamp duty and registration fee for property in Mahalakshmi Nagar 11th Street, Brindhavan Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 4,400 per sq.ft, the total guideline value would be Rs 44,00,000. The stamp duty at 7% would amount to Rs 3,08,000, and the registration fee at 2% would be Rs 88,000, bringing the total to Rs 3,96,000. It is important to 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 precise calculations.

Which Sub Registrar Office covers Mahalakshmi Nagar 11th Street, Brindhavan Nagar?

The Mahalakshmi Nagar 11th Street, Brindhavan Nagar falls under the Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Velachery. It serves as a benchmark for determining the stamp duty and registration fees that must be paid during the transaction.

When a property is registered, the guideline value is compared to the sale price, and the higher amount is used to calculate the applicable duties and fees. This ensures that the government receives appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Mahalakshmi Nagar 11th Street?

The current guideline value of Mahalakshmi Nagar 11th Street, Brindhavan Nagar is Rs 4,400 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has changed from Rs 2,680 per sq.ft in 2017 to Rs 4,400 per sq.ft in 2024, reflecting an increase of +64%. There are no figures available for the years 2023, 2012, 2007, 2003, and 2002.

What are the other streets in Velachery with the same guideline value?

Other streets in Velachery that share the same guideline value of Rs 4,400 per sq.ft include Mahalakshmi Nagar 10th Street, 11th Cross Street, 12th Cross Street, and 12th Street, among others.

How is stamp duty calculated for properties in Mahalakshmi Nagar 11th Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 44,00,000, the stamp duty at 7% would be Rs 3,08,000.

Where can I find the Sub Registrar Office for Mahalakshmi Nagar 11th Street?

The Sub Registrar Office covering Mahalakshmi Nagar 11th Street is the Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.