Guideline Value for Mahalakshmi Nagar Annuxe/ Extension

Mahalakshmi Nagar Annuxe/ Extension guideline value

The current guideline value for Mahalakshmi Nagar Annuxe/ Extension is Rs 3,520 per sq.ft, effective from 1 July 2024. This area is located in Madanandapuram village under the Kunrathur SRO, classified as Residential Special Type - II.

How the guideline value of Mahalakshmi Nagar Annuxe/ Extension has changed

Over the years, the guideline value for Mahalakshmi Nagar Annuxe/ Extension has seen significant changes. The earliest recorded revision was in 2007, where the value was Rs 400 per sq.ft. This increased dramatically to Rs 3,200 per sq.ft in 2012, marking a substantial rise of 700%. However, it then saw a decrease to Rs 2,144 per sq.ft in 2017, which was a drop of 33%. The value then increased again to Rs 3,200 per sq.ft in 2023, before reaching the current value of Rs 3,520 per sq.ft in 2024, reflecting a 10% increase.

From the 2017 revision of Rs 2,144 per sq.ft to the 2023 revision of Rs 3,200 per sq.ft, there was a notable increase of 49%. Overall, from the first recorded value in 2007 to the current value in 2024, there has been a remarkable increase of 780%. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Madanandapuram

Madanandapuram village has a range of guideline values across its 94 streets under the Kunrathur SRO, with the 2024 figures varying from Rs 2,530 to Rs 5,830 per sq.ft. The median value is Rs 3,520 per sq.ft, which is the same as the guideline value for Mahalakshmi Nagar Annuxe/ Extension.

• Mahalakshmi Nagar: Rs 3,960 per sq.ft (2024)
• Madha Nagar Extension V: Rs 3,960 per sq.ft (2024)
• Madha Nagar Extension IV: Rs 3,960 per sq.ft (2024)
• Madha Nagar Extension III: Rs 3,960 per sq.ft (2024)
• Madha Nagar Extension II: Rs 3,960 per sq.ft (2024)
• Madha Nagar Extension I: Rs 3,960 per sq.ft (2024)

Stamp duty and registration fee for property in Mahalakshmi Nagar Annuxe/ Extension

For a 1,000 sq.ft plot at the current guideline value of Rs 3,520 per sq.ft, the total guideline value amounts to Rs 35,20,000. The stamp duty at 7% would be Rs 2,46,400, and the registration fee at 2% would be Rs 70,400, bringing the total to Rs 3,16,800. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Mahalakshmi Nagar Annuxe/ Extension?

The Sub Registrar Office covering Mahalakshmi Nagar Annuxe/ Extension 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 Madanandapuram

The guideline value plays a crucial role during property registration in Madanandapuram. It is used to determine the minimum value at which properties can be registered, ensuring that the government receives the appropriate stamp duty and registration fees based on this value.

When buying or selling a property, the guideline value is considered alongside the sale price. The higher of the two values will be used to calculate the applicable stamp duty and registration fees, ensuring compliance with local regulations.

Frequently asked questions

What is the current guideline value for Mahalakshmi Nagar Annuxe/ Extension?

The current guideline value for Mahalakshmi Nagar Annuxe/ Extension is Rs 3,520 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 400 per sq.ft in 2007 to Rs 3,520 per sq.ft in 2024, showing an overall increase of 780% over the years.

What are the other streets in Madanandapuram and their guideline values?

Other streets in Madanandapuram include Mahalakshmi Nagar, Madha Nagar Extension I, II, III, IV, and V, all of which have a guideline value of Rs 3,960 per sq.ft for 2024.

What is the stamp duty for properties in Mahalakshmi Nagar Annuxe/ Extension?

The stamp duty for properties in Mahalakshmi Nagar Annuxe/ Extension is 7% of the guideline value or sale price, whichever is higher.

Where can I find the Sub Registrar Office for Mahalakshmi Nagar Annuxe/ Extension?

The Sub Registrar Office for Mahalakshmi Nagar Annuxe/ Extension is located at No.59, Road Street, Kundrathur, Chennai -600 069.