Guideline Value

Corporate

Guideline Value for Mahalakshmi Nagar 1st Cross Street

₹3100/sq.ft.

The guideline value for Mahalakshmi Nagar 1st Cross Street in Ramapuram village (Chennai South Joint Ii SRO, Chennai zone) is Rs 3100 per sq.ft, effective 1 July 2024. It was Rs 2800 per sq.ft from 1 April 2023, a 11% change. The land classification is Residential Class Ii Type - I. Source: TNReginet guideline value register.

Last updated:

Chennai

Zone

Ramapuram

Village

Chennai South Joint II

SRO

Residential Class II Type - I
History
Period Guideline Value
From 1-7-2024 ₹3100 /sq.ft.
From 1-4-2023 ₹2800 /sq.ft.
From 9-6-2017 To 31-3-2023 ₹1876 /sq.ft.
From 1-4-2012 To 8-6-2017 ₹2800 /sq.ft.
From 1-8-2007 To 31-3-2012 N/A
From 1-4-2003 To 31-7-2007 N/A
From 1-4-2002 To 31-3-2003 N/A
Guideline Value Timeline
Guideline Value Comparison

SRO (Sub Registrar Office)

Integrated Building For Offices Of The Commerrcial Taxes And Registrations Department ,fanepet Nandanam ,chennai -600 035
044-29510538
[email protected]

DRO (District Registrar Office)

Integrated Building For Offices Of The Commercial Taxes And Registration Department, Fanepet, Nandhanam, Chennai - 35.
044-22505552
[email protected], [email protected]

DIG (Deputy Inspector General)

Integrated Building For Offices Of The Commercial Taxes And Registration, Department Fanepet, Nandanam, Chennai - 600 035.
044-29510527
[email protected]
Records for a plot on Mahalakshmi Nagar 1st Cross Street

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Mahalakshmi Nagar 1st Cross Street guideline value

The current guideline value for Mahalakshmi Nagar 1st Cross Street is Rs 3,100 per sq.ft, effective from 1 July 2024. This street is located in Ramapuram village and falls under the Chennai South Joint II SRO, with a land classification of Residential Class II Type - I.

How the guideline value of Mahalakshmi Nagar 1st Cross Street has changed

The guideline value for Mahalakshmi Nagar 1st Cross Street has undergone several revisions over the years. The 2012 revision set the value at Rs 2,800 per sq.ft, which then decreased to Rs 1,876 per sq.ft in the 2017 revision. Following this, the value rose significantly to Rs 2,800 per sq.ft in 2023, and then increased to Rs 3,100 per sq.ft in the 2024 revision, marking an 11% rise from the previous year.

From 2012 to 2017, there was a decrease of 33%, but from 2017 to 2023, the value increased by 49%. Overall, from 2012 to 2024, the guideline value has increased by 11%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Ramapuram

In Ramapuram, there are 394 streets under the Chennai South Joint II SRO that carry a 2024 guideline value ranging from Rs 1,950 to Rs 6,600 per sq.ft, with the median being Rs 3,100 per sq.ft. The guideline value for Mahalakshmi Nagar 1st Cross Street is equal to this median.

Stamp duty and registration fee for property in Mahalakshmi Nagar 1st Cross Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,100 per sq.ft, the total guideline value would be Rs 31,00,000. The stamp duty at 7% would amount to Rs 2,17,000, and the registration fee at 2% would be Rs 62,000, bringing the total cost for these fees to Rs 2,79,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator for more accurate calculations based on your property details.

Which Sub Registrar Office covers Mahalakshmi Nagar 1st Cross Street?

The Sub Registrar Office that covers Mahalakshmi Nagar 1st Cross Street is the Chennai South Joint II Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Ramapuram. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is registered, the guideline value is taken into account to ensure that the correct fees are levied. This value helps maintain transparency and standardization in property transactions, ensuring that both buyers and sellers are aware of the financial obligations involved.

Frequently asked questions

What is the current guideline value for Mahalakshmi Nagar 1st Cross Street?

The current guideline value for Mahalakshmi Nagar 1st Cross Street is Rs 3,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,800 per sq.ft in 2012 to Rs 1,876 per sq.ft in 2017, then to Rs 2,800 per sq.ft in 2023, and finally to Rs 3,100 per sq.ft in 2024.

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

For a property valued at Rs 31,00,000, the stamp duty at 7% would be Rs 2,17,000 and the registration fee at 2% would be Rs 62,000, totaling Rs 2,79,000.

Which Sub Registrar Office covers Mahalakshmi Nagar 1st Cross Street?

The Chennai South Joint II Sub Registrar Office covers Mahalakshmi Nagar 1st Cross Street, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035.

What is the land classification for Mahalakshmi Nagar 1st Cross Street?

The land classification for Mahalakshmi Nagar 1st Cross Street is Residential Class II Type - I.