Guideline Value

Corporate

Guideline Value for Mahalakshmi Nagar 6th Street

₹2750/sq.ft.

The guideline value for Mahalakshmi Nagar 6th Street in Madipakkam-1 village (Velacheri SRO, Chennai zone) is Rs 2750 per sq.ft, effective 1 July 2024. It was Rs 2500 per sq.ft from 1 April 2023, a 10% change. The land classification is Residential Class I Type - Iii. Source: TNReginet guideline value register.

Last updated:

Chennai

Zone

Madipakkam-1

Village

Velacheri

SRO

Residential Class I Type - III
History
Period Guideline Value
From 1-7-2024 ₹2750 /sq.ft.
From 1-4-2023 ₹2500 /sq.ft.
From 9-6-2017 To 31-3-2023 N/A
From 1-4-2012 To 8-6-2017 N/A
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.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042
044-22553736
[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 6th Street

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Mahalakshmi Nagar 6th Street guideline value

The current guideline value of Mahalakshmi Nagar 6th Street is Rs 2,750 per sq.ft, effective from 1 July 2024. This street is located in Madipakkam-1 village, under the Velacheri SRO. The land classification for this area is Residential Class I Type - III.

How the guideline value of Mahalakshmi Nagar 6th Street has changed

According to the guideline value register, there are no figures available for Mahalakshmi Nagar 6th Street for the years 2002, 2003, 2007, 2012, and 2017. The 2023 revision set the guideline value at Rs 2,500 per sq.ft. The most recent revision in 2024 increased this amount to Rs 2,750 per sq.ft, reflecting a change of +10% from the previous year.

The 2024 guideline value of Rs 2,750 per sq.ft aligns with the median value of Rs 2,750 per sq.ft for the 1,823 streets in Madipakkam-1 under the Velacheri SRO, which range from Rs 1,650 to Rs 5,500 per sq.ft.

Guideline values in Madipakkam-1

The guideline values in Madipakkam-1 show a wide range, with the 2024 figures for various streets falling between Rs 1,650 and Rs 5,500 per sq.ft. Mahalakshmi Nagar 6th Street's 2024 figure of Rs 2,750 per sq.ft is equal to the median value for the village.

Stamp duty and registration fee for property in Mahalakshmi Nagar 6th Street

For a 1,000 sq.ft plot at the current rate of Rs 2,750 per sq.ft, the guideline value would be Rs 27,50,000. The stamp duty at 7% would amount to Rs 1,92,500, and the registration fee at 2% would be Rs 55,000, bringing the total to Rs 2,47,500. It is important to note that duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Mahalakshmi Nagar 6th Street?

The Sub Registrar Office that covers Mahalakshmi Nagar 6th Street is the Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042. You can find your SRO for more information.

How the guideline value is used when you buy or sell in Madipakkam-1

The guideline value is a crucial factor in the registration process when buying or selling property in Madipakkam-1. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction.

When you register a property, the guideline value is used to calculate the applicable charges, ensuring that both buyers and sellers are aware of the financial implications of the transaction. This helps maintain transparency in property dealings within the region.

Frequently asked questions

What is the current guideline value of Mahalakshmi Nagar 6th Street?

The current guideline value of Mahalakshmi Nagar 6th Street is Rs 2,750 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

There are no figures available for Mahalakshmi Nagar 6th Street for the years 2002, 2003, 2007, 2012, and 2017. The guideline value was Rs 2,500 per sq.ft in 2023 and increased to Rs 2,750 per sq.ft in 2024.

What is the land classification for Mahalakshmi Nagar 6th Street?

The land classification for Mahalakshmi Nagar 6th Street is Residential Class I Type - III.

Where can I find the Sub Registrar Office for Mahalakshmi Nagar 6th Street?

The Sub Registrar Office for Mahalakshmi Nagar 6th Street is the Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.

How is the stamp duty calculated for properties in Mahalakshmi Nagar 6th Street?

Stamp duty for properties in Mahalakshmi Nagar 6th Street is calculated based on the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at the current rate would incur a total stamp duty and registration fee of Rs 2,47,500.