Guideline Value for Mahalakshmi Nagar 4th Cross Street

Mahalakshmi Nagar 4th Cross Street guideline value

The current guideline value of Mahalakshmi Nagar 4th 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 4th Cross Street has changed

The guideline value for Mahalakshmi Nagar 4th Cross Street has undergone several revisions over the years. In 2012, the value was set at Rs 1,400 per sq.ft. This figure remained until the next revision in 2017, where it decreased by 33% to Rs 938 per sq.ft. Following this, the value significantly increased to Rs 1,400 per sq.ft in 2023, marking a 49% rise. The most recent revision in 2024 saw the guideline value rise by 10% to Rs 1,540 per sq.ft.

It is important to note that there are no figures available for the years 2002, 2003, and 2007 in the register for this street.

Guideline values in Thiruverkadu

In Thiruverkadu, there are a total of 178 streets under the Kunrathur SRO, with guideline values 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 aligns with the current value of Mahalakshmi Nagar 4th Cross Street.

• Mahalakshmi Nagar 3rd Cross Street: Rs 1,540 per sq.ft (2024)
• Mahalakshmi Nagar 5th Cross Street: Rs 1,540 per sq.ft (2024)
• Mahalakshmi Nagar 6th Cross Street: Rs 1,540 per sq.ft (2024)
• Mahalakshmi Nagar 2nd Cross Street: Rs 1,540 per sq.ft (2024)
• Mahalakshmi Nagar 7th Cross Street: Rs 1,540 per sq.ft (2024)
• Mahalakshmi Nagar 8th Cross Street: Rs 1,540 per sq.ft (2024)

Stamp duty and registration fee for property in Mahalakshmi Nagar 4th 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 at 7% would be Rs 1,07,800, and the registration fee at 2% would be Rs 30,800, bringing the total cost for these fees 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.

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

Which Sub Registrar Office covers Mahalakshmi Nagar 4th Cross Street?

The Mahalakshmi Nagar 4th Cross Street falls under the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069. You can find your SRO for more details.

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

The guideline value is a crucial factor when registering property in Thiruverkadu. It serves as a benchmark for determining the minimum value at which property transactions can be registered, ensuring that the government receives the appropriate revenue from stamp duties and registration fees.

When buying or selling property, it is essential to consider the guideline value as it influences the overall transaction costs. Buyers should be aware that the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher.

Frequently asked questions

What is the current guideline value of Mahalakshmi Nagar 4th Cross Street?

The current guideline value of Mahalakshmi Nagar 4th 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 increased to Rs 1,400 per sq.ft in 2023, and finally to Rs 1,540 per sq.ft in 2024.

What are the other streets in Thiruverkadu with the same guideline value?

Other streets in Thiruverkadu with the same guideline value of Rs 1,540 per sq.ft include Mahalakshmi Nagar 2nd, 3rd, 5th, 6th, 7th, and 8th Cross Streets.

What is the registration fee for properties in Mahalakshmi Nagar 4th Cross Street?

The registration fee for properties in Mahalakshmi Nagar 4th Cross Street is calculated based on the guideline value, which is currently Rs 1,540 per sq.ft.

Where can I find the Kunrathur Sub Registrar Office?

The Kunrathur Sub Registrar Office is located at No.59, Road Street, Kundrathur, Chennai -600 069. You can find more details online.