Guideline Value

Corporate

Guideline Value for Mahalakshmi Nagar 2nd Cross Street

₹3100/sq.ft.

The guideline value for Mahalakshmi Nagar 2nd 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 2nd Cross Street

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Mahalakshmi Nagar 2nd Cross Street guideline value

The current guideline value of Mahalakshmi Nagar 2nd 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. The land classification for this area is Residential Class II Type - I.

How the guideline value of Mahalakshmi Nagar 2nd Cross Street has changed

The guideline value for Mahalakshmi Nagar 2nd Cross Street has undergone several revisions over the years. The 2012 revision set the value at Rs 2,800 per sq.ft, which was then reduced to Rs 1,876 per sq.ft in the 2017 revision. Following this, the 2023 revision increased the value to Rs 2,800 per sq.ft, and the most recent 2024 revision has raised it to Rs 3,100 per sq.ft.

Between the revisions, the changes are notable. From 2012 to 2017, there was a decrease of 33%. However, from 2017 to 2023, the value increased by 49%. The latest change from 2023 to 2024 reflects an increase of 11%. Overall, from 2012 to 2024, the guideline value has increased by 11%.

Guideline values in Ramapuram

In Ramapuram, there are 394 streets under the Chennai South Joint II SRO that have a 2024 guideline value ranging from Rs 1,950 to Rs 6,600 per sq.ft. The median value for these streets is Rs 3,100 per sq.ft, which is the same as the 2024 figure for Mahalakshmi Nagar 2nd Cross Street.

Stamp duty and registration fee for property in Mahalakshmi Nagar 2nd 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, totaling 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 on calculating these fees, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Mahalakshmi Nagar 2nd Cross Street?

The Mahalakshmi Nagar 2nd Cross Street falls under 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 details.

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

The guideline value is a crucial factor during the registration of property transactions in Ramapuram. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is recorded at a fair value.

When buying or selling property, both the buyer and seller must consider the guideline value, as it influences the stamp duty and registration fees applicable to the transaction. This ensures compliance with local regulations and accurate documentation of the property transfer.

Frequently asked questions

What is the current guideline value of Mahalakshmi Nagar 2nd Cross Street?

The current guideline value of Mahalakshmi Nagar 2nd 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 several times, with the most recent increase from Rs 2,800 per sq.ft in 2023 to Rs 3,100 per sq.ft in 2024. The value was Rs 1,876 per sq.ft in 2017 and Rs 2,800 per sq.ft in 2012.

What is the land classification for Mahalakshmi Nagar 2nd Cross Street?

The land classification for Mahalakshmi Nagar 2nd Cross Street is Residential Class II Type - I, indicating its designation for residential purposes.

Where can I find the registration office for Mahalakshmi Nagar 2nd Cross Street?

The registration office for Mahalakshmi Nagar 2nd 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.

How is stamp duty calculated for properties in Mahalakshmi Nagar 2nd Cross Street?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a property valued at Rs 31,00,000 would incur a stamp duty of Rs 2,17,000 at 7%.