Guideline Value

Corporate

Guideline Value for Mahalakshmi Nagar 1st Cross Street

₹1540/sq.ft.

The guideline value for Mahalakshmi Nagar 1st Cross Street in Thiruverkadu village (Kunrathur SRO, Chennai zone) is Rs 1540 per sq.ft, effective 1 July 2024. It was Rs 1400 per sq.ft from 1 April 2023, a 10% change. The land classification is Residential Class I Type - I. Source: TNReginet guideline value register.

Last updated:

Chennai

Zone

Thiruverkadu

Village

Kunrathur

SRO

Residential Class I Type - I
History
Period Guideline Value
From 1-7-2024 ₹1540 /sq.ft.
From 1-4-2023 ₹1400 /sq.ft.
From 9-6-2017 To 31-3-2023 ₹938 /sq.ft.
From 1-4-2012 To 8-6-2017 ₹1400 /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)

No.59. Road Street, Kundrathur, Chennai -600 069.
044-24780515
[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 of Mahalakshmi Nagar 1st Cross Street is Rs 1,540 per sq.ft. This street is located in Thiruverkadu village, under the Kunrathur SRO, and is classified as Residential Class I Type - I.

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

The guideline value for Mahalakshmi Nagar 1st Cross Street has seen several revisions over the years. The earliest recorded revision is from 2012, where the guideline value was Rs 1,400 per sq.ft. This value then decreased to Rs 938 per sq.ft in 2017, marking a decline of 33%. However, it rebounded significantly to Rs 1,400 per sq.ft in 2023, and further increased to Rs 1,540 per sq.ft in 2024, reflecting a rise of 10% from the previous year.

From 2017 to 2023, the guideline value experienced a substantial increase of 49%. Overall, from 2012 to 2024, the guideline value has increased by 10%. The revisions for the years 2002, 2003, and 2007 have no figures available for this street.

Guideline values in Thiruverkadu

In Thiruverkadu, there are 178 streets under the Kunrathur SRO that carry a 2024 guideline value ranging from Rs 1,430 to Rs 3,520 per sq.ft. The median guideline value for these streets is Rs 1,540 per sq.ft, which is equal to the 2024 figure for Mahalakshmi Nagar 1st Cross Street.

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

For a 1,000 sq.ft plot at the current rate, the guideline value would be Rs 15,40,000. The stamp duty, charged at 7%, would amount to Rs 1,07,800, and the registration fee at 2% would be Rs 30,800, bringing the total to Rs 1,38,600. 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 information.

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

The Sub Registrar Office that covers Mahalakshmi Nagar 1st Cross Street is the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069. For more details, you can find your SRO.

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

The guideline value is a crucial factor in property transactions in Thiruverkadu. It serves as a benchmark for assessing the value of properties during registration. When buyers and sellers agree on a sale price, the guideline value is used to determine the applicable stamp duty and registration fees.

During the registration process, the authorities will check the guideline value to ensure that the transaction is in line with the prevailing market rates. This helps maintain transparency and fairness in property dealings.

Frequently asked questions

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

The current guideline value of Mahalakshmi Nagar 1st Cross Street is Rs 1,540 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,400 per sq.ft in 2012 to Rs 938 per sq.ft in 2017, then to Rs 1,400 per sq.ft in 2023, and finally to Rs 1,540 per sq.ft in 2024.

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

Mahalakshmi Nagar 1st Cross Street is classified as Residential Class I Type - I, indicating its suitability for residential development.

Where can I find the registration office for Mahalakshmi Nagar 1st Cross Street?

The registration office for Mahalakshmi Nagar 1st Cross Street is the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069.

How is stamp duty calculated for properties in Thiruverkadu?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 15,40,000, the stamp duty would be Rs 1,07,800 at a rate of 7%.