Guideline Value

Corporate

Guideline Value for Mahalakshmi Nagar 1st Main Road

₹3100/sq.ft.

The guideline value for Mahalakshmi Nagar 1st Main Road 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 Main Road

Need Complete Property Verification?

Get ownership details, EC records, FMB, zone checks, geo-insights & AI analysis - all in one place

Ownership Details
EC Records
FMB Sketch
Zone Checks
Geo-Insights
AI Analysis
Try VerifyMyLand Now ✨ Get comprehensive property verification in minutes

Mahalakshmi Nagar 1st Main Road guideline value

The current guideline value of Mahalakshmi Nagar 1st Main Road is Rs 3,100 per sq.ft, effective from 1 July 2024. This street is located in Ramapuram village, under the Chennai South Joint II SRO, and is classified as Residential Class II Type - I.

How the guideline value of Mahalakshmi Nagar 1st Main Road has changed

The guideline value for Mahalakshmi Nagar 1st Main Road has seen several revisions over the years. The earliest recorded revision is from 2012, where the value was Rs 2,800 per sq.ft. This was followed by a decrease to Rs 1,876 per sq.ft in 2017, marking a drop of 33%. However, the value rebounded to Rs 2,800 per sq.ft in 2023, and then increased to Rs 3,100 per sq.ft in 2024, reflecting an 11% rise from the previous year.

From 2017 to 2023, the guideline value increased significantly by 49%. Overall, from 2012 to 2024, the guideline value has increased by 11%. The register has no figure for this street for the years 2002, 2003, and 2007.

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. The median value is Rs 3,100 per sq.ft, which is equal to the current guideline value of Mahalakshmi Nagar 1st Main Road.

Stamp duty and registration fee for property in Mahalakshmi Nagar 1st Main Road

For a 1,000 sq.ft plot at the current guideline value of Rs 3,100 per sq.ft, the total guideline value amounts to 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, bringing the total charges to Rs 2,79,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Mahalakshmi Nagar 1st Main Road?

The Sub Registrar Office that covers Mahalakshmi Nagar 1st Main Road 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, Chennai registration zone.

You can find your SRO for additional assistance.

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

The guideline value is an important factor in property transactions in Ramapuram, as it serves as a benchmark for determining the stamp duty and registration fees. When buying or selling property, the guideline value is used to calculate these fees, ensuring that both parties are aware of the financial implications of the transaction.

It is essential for buyers and sellers to understand the guideline value, as it reflects the official valuation of the property and can impact the overall cost of the transaction. This value is regularly updated to reflect changes in the real estate market and is crucial for legal documentation during the registration process.

Frequently asked questions

What is the current guideline value of Mahalakshmi Nagar 1st Main Road?

The current guideline value of Mahalakshmi Nagar 1st Main Road 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 back to Rs 2,800 per sq.ft in 2023, and finally to Rs 3,100 per sq.ft in 2024.

What is the stamp duty rate for properties in Mahalakshmi Nagar 1st Main Road?

The stamp duty rate for properties in Mahalakshmi Nagar 1st Main Road is 7% of the guideline value or the sale price, whichever is higher.

Where can I find the Sub Registrar Office for Mahalakshmi Nagar 1st Main Road?

The Sub Registrar Office for Mahalakshmi Nagar 1st Main Road 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.

What is the land classification for Mahalakshmi Nagar 1st Main Road?

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