Guideline Value for Mahalakshmi Nagar 15th Street

Mahalakshmi Nagar 15th Street guideline value

The current guideline value of Mahalakshmi Nagar 15th Street is Rs 4,400 per sq.ft, effective from 1 July 2024. This street is located in Velachery village and falls under the Velacheri SRO. The land classification for this area is Residential Class II Type - II.

How the guideline value of Mahalakshmi Nagar 15th Street has changed

The guideline value register for Mahalakshmi Nagar 15th Street has no figures for the years 2023, 2017, 2012, 2007, 2003, and 2002. The most recent revision is for 2024, which sets the guideline value at Rs 4,400 per sq.ft.

Since there are no figures available for the previous years, we can only reference the 2024 revision. There have been no changes between the revisions above, indicating that the guideline value has remained consistent at Rs 4,400 per sq.ft in the latest revision.

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 guideline value for these streets is Rs 4,400 per sq.ft, which is equal to the guideline value for Mahalakshmi Nagar 15th Street.

• Mahalakshmi Nagar 15th Cross Street: Rs 4,400 per sq.ft (2024)
• Mahalakshmi Nagar 15th Street, Brindhavan Nagar: Rs 4,400 per sq.ft (2024)
• Mahalakshmi Nagar 14th Street, Brindhavan Nagar: Rs 4,400 per sq.ft (2024)
• Mahalakshmi Nagar 16th Cross Street: Rs 4,400 per sq.ft (2024)
• Mahalakshmi Nagar 14th Street: Rs 4,400 per sq.ft (2024)
• Mahalakshmi Nagar 16th Street: Rs 4,400 per sq.ft (2024)

Stamp duty and registration fee for property in Mahalakshmi Nagar 15th Street

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, making the total cost for these fees Rs 3,96,000. 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 accurate calculations based on your specific property details.

Which Sub Registrar Office covers Mahalakshmi Nagar 15th Street?

The Sub Registrar Office that covers Mahalakshmi Nagar 15th Street is the Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042. For more information, you can find your SRO.

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

The guideline value is a crucial factor when registering property transactions in Velachery. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, the guideline value helps both buyers and sellers understand the financial implications of their transactions. It is essential to consider this value alongside the actual sale price, as the higher of the two will determine the applicable stamp duty and registration fees.

Frequently asked questions

What is the current guideline value of Mahalakshmi Nagar 15th Street?

The current guideline value of Mahalakshmi Nagar 15th Street is Rs 4,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value register has no figures for the years 2023, 2017, 2012, 2007, 2003, and 2002. The only available figure is from the 2024 revision, which is Rs 4,400 per sq.ft.

What is the land classification for Mahalakshmi Nagar 15th Street?

The land classification for Mahalakshmi Nagar 15th Street is Residential Class II Type - II.

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

For a 1,000 sq.ft plot valued at the current guideline value of Rs 4,400 per sq.ft, the stamp duty would be Rs 3,08,000 and the registration fee would be Rs 88,000, totaling Rs 3,96,000.

Where is the Sub Registrar Office for Mahalakshmi Nagar 15th Street located?

The Sub Registrar Office covering Mahalakshmi Nagar 15th Street is located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.