Guideline Value for Mahalakshmi Nagar 9th Cross Street

Mahalakshmi Nagar 9th Cross Street guideline value

The current guideline value of Mahalakshmi Nagar 9th 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, classified as Residential Class I Type - I.

How the guideline value of Mahalakshmi Nagar 9th Cross Street has changed

The guideline value for Mahalakshmi Nagar 9th Cross Street has undergone several revisions over the years. The earliest recorded revision was in 2012, where the value was set at Rs 1,400 per sq.ft. This was followed by a decrease to Rs 938 per sq.ft in the 2017 revision. The value then increased significantly to Rs 1,400 per sq.ft in 2023, and currently stands at Rs 1,540 per sq.ft from the 2024 revision, marking a 10% increase from the previous year.

Between the revisions, there have been notable changes. From 2012 to 2017, the value decreased by 33%. However, from 2017 to 2023, there was a substantial increase of 49%. Overall, from 2012 to 2024, the guideline value has increased by 10%. It is important to note that there are no figures available for the revisions in 2002, 2003, and 2007 for this street.

Guideline values in Thiruverkadu

In Thiruverkadu, there are 178 streets under the Kunrathur SRO with 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 is the same as the current value for Mahalakshmi Nagar 9th Cross Street.

• Mahalakshmi Nagar 8th Cross Street: Rs 1,540 per sq.ft (2024)
• Mahalakshmi Nagar 7th Cross Street: Rs 1,540 per sq.ft (2024)
• Mahalakshmi Nagar 6th Cross Street: Rs 1,540 per sq.ft (2024)
• Mahalakshmi Nagar 5th Cross Street: Rs 1,540 per sq.ft (2024)
• Mahalakshmi Nagar 4th Cross Street: Rs 1,540 per sq.ft (2024)
• Mahalakshmi Nagar 3rd Cross Street: Rs 1,540 per sq.ft (2024)

Stamp duty and registration fee for property in Mahalakshmi Nagar 9th 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 would be Rs 15,40,000. The stamp duty at 7% would amount to Rs 1,07,800, while the registration fee at 2% would be Rs 30,800, bringing the total 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 the stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Mahalakshmi Nagar 9th Cross Street?

The Mahalakshmi Nagar 9th Cross Street falls under the jurisdiction of the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069. For further information, you can find your SRO.

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

The guideline value is a crucial factor when registering property transactions in Thiruverkadu. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction reflects a fair valuation based on the prevailing market conditions.

When buying or selling property, the guideline value helps in calculating the stamp duty and registration fees. Buyers should be aware that these charges are based on the higher of the guideline value or the actual sale price of the property.

Frequently asked questions

What is the current guideline value of Mahalakshmi Nagar 9th Cross Street?

The current guideline value of Mahalakshmi Nagar 9th 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 is now Rs 1,540 per sq.ft in 2024.

What is the land classification of Mahalakshmi Nagar 9th Cross Street?

The land classification of Mahalakshmi Nagar 9th Cross Street is Residential Class I Type - I.

What are the stamp duty and registration fees for properties in this area?

The stamp duty is calculated at 7% of the guideline value, while the registration fee is 2%. For a property valued at Rs 15,40,000, the total fees would be Rs 1,38,600.

Which office do I go to for property registration in Mahalakshmi Nagar?

Property registration for Mahalakshmi Nagar 9th Cross Street is handled by the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069.