Guideline Value for Mahalakshmi Nagar 14th Street

Mahalakshmi Nagar 14th Street guideline value

The current guideline value of Mahalakshmi Nagar 14th Street is Rs 4,400 per sq.ft, effective from 1 July 2024. This street is located in Velachery village, under the Velacheri SRO, and is classified as Residential Class II Type - II.

How the guideline value of Mahalakshmi Nagar 14th Street has changed

The guideline value register for Mahalakshmi Nagar 14th Street shows no figures for the years 2002, 2003, 2007, 2012, 2017, and 2023. The most recent revision is from 2024, which lists the guideline value at Rs 4,400 per sq.ft.

Since there are no figures available for the previous years, we can conclude that the 2024 revision is the first recorded guideline value for this street.

Guideline values in Velachery

In Velachery, there are a total of 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 is Rs 4,400 per sq.ft, which is equal to the guideline value of Mahalakshmi Nagar 14th Street.

• Mahalakshmi Nagar 14th Cross Street: Rs 4,400 per sq.ft (2024)
• Mahalakshmi Nagar 14th Street, Brindhavan Nagar: Rs 4,400 per sq.ft (2024)
• Mahalakshmi Nagar 13th Street, Brindhavan Nagar: Rs 4,400 per sq.ft (2024)
• Mahalakshmi Nagar 15th Cross Street: Rs 4,400 per sq.ft (2024)
• Mahalakshmi Nagar 13th Street: Rs 4,400 per sq.ft (2024)
• Mahalakshmi Nagar 15th Street: Rs 4,400 per sq.ft (2024)

Stamp duty and registration fee for property in Mahalakshmi Nagar 14th Street

For a 1,000 sq.ft plot at the current rate, the guideline value is Rs 44,00,000. The stamp duty at 7% amounts to Rs 3,08,000, and the registration fee at 2% is Rs 88,000, totaling Rs 3,96,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Mahalakshmi Nagar 14th Street?

The Sub Registrar Office covering Mahalakshmi Nagar 14th Street is 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 is an important factor during property registration in Velachery. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid when buying or selling property.

When a property is sold, the buyer must pay stamp duty based on the higher of the guideline value or the sale price. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Mahalakshmi Nagar 14th Street?

The current guideline value of Mahalakshmi Nagar 14th Street is Rs 4,400 per sq.ft, effective from 1 July 2024.

What is the land classification for Mahalakshmi Nagar 14th Street?

Mahalakshmi Nagar 14th Street is classified as Residential Class II Type - II.

What are the stamp duty rates applicable in Mahalakshmi Nagar 14th Street?

The stamp duty rate applicable is 7%, while the registration fee is 2% of the guideline value or sale price, whichever is higher.

Which office handles registrations for Mahalakshmi Nagar 14th Street?

The Velacheri Sub Registrar Office handles registrations for Mahalakshmi Nagar 14th Street, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.

How can I calculate the registration fees for a property in Mahalakshmi Nagar 14th Street?

You can calculate the registration fees using the stamp duty and registration fee calculator available online.