Guideline Value for Mahalakshmi Nagar 2nd Cross Street

Mahalakshmi Nagar 2nd Cross Street guideline value

The current guideline value of Mahalakshmi Nagar 2nd Cross Street is Rs 1,540 per sq.ft, effective from 1 July 2024. 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 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 1,400 per sq.ft. This was followed by a decrease to Rs 938 per sq.ft in the 2017 revision. The 2023 revision saw an increase to Rs 1,400 per sq.ft, and the most recent 2024 revision raised it further to Rs 1,540 per sq.ft. The register has no figures for the years 2002, 2003, and 2007 for this street.

From 2012 to 2017, there was a decrease of 33% in the guideline value. However, from 2017 to 2023, the value increased significantly by 49%. The overall change from 2012 to 2024 reflects a 10% increase, bringing the current guideline value to Rs 1,540 per sq.ft.

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 is Rs 1,540 per sq.ft, which aligns with the current value of Mahalakshmi Nagar 2nd Cross Street.

• Mahalakshmi Nagar 1st Cross Street: Rs 1,540 per sq.ft (2024)
• Mahalakshmi Nagar 3rd Cross Street: Rs 1,540 per sq.ft (2024)
• Mahalakshmi Nagar 4th Cross Street: Rs 1,540 per sq.ft (2024)
• Mahalakshmi Nagar 5th Cross Street: Rs 1,540 per sq.ft (2024)
• Mahalakshmi Nagar 10th Cross Street: Rs 1,540 per sq.ft (2024)
• Mahalakshmi Nagar 6th Cross Street: Rs 1,540 per sq.ft (2024)

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 1,540 per sq.ft, the total guideline value amounts to Rs 15,40,000. The stamp duty is charged at 7%, which totals Rs 1,07,800, and the registration fee is 2%, amounting to Rs 30,800. Together, these fees sum up to Rs 1,38,600. It is important to note that duty is charged on the higher of the guideline value and the sale price.

You can use our stamp duty and registration fee calculator for more detailed calculations.

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

The Sub Registrar Office that covers Mahalakshmi Nagar 2nd Cross Street is the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069. You can find your SRO for more information.

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

The guideline value is a critical factor during the registration of property transactions in Thiruverkadu. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring transparency in property dealings.

When buying or selling property, the guideline value aids in calculating the applicable stamp duty and registration fees. These fees are calculated based on the higher of the guideline value or the sale price, which helps in standardizing the costs associated with property transactions.

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 1,540 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen several revisions: Rs 1,400 per sq.ft in 2012, decreased to Rs 938 per sq.ft in 2017, increased to Rs 1,400 per sq.ft in 2023, and finally set at Rs 1,540 per sq.ft in 2024.

Which Sub Registrar Office is responsible for Mahalakshmi Nagar 2nd Cross Street?

The Kunrathur Sub Registrar Office is responsible for Mahalakshmi Nagar 2nd Cross Street, located at No.59, Road Street, Kundrathur, Chennai -600 069.

What is the stamp duty rate for properties in Mahalakshmi Nagar 2nd Cross Street?

The stamp duty rate for properties in Mahalakshmi Nagar 2nd Cross Street is 7% of the guideline value or the sale price, whichever is higher.

How can I calculate the registration fees for a property?

The registration fee is charged at 2% of the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for accurate calculations.