Guideline Value

Corporate

Guideline Value for Mahalakshmi Nagar Extn 2nd Cross Street

₹2750/sq.ft.

The guideline value for Mahalakshmi Nagar Extn 2nd Cross 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 ₹1675 /sq.ft.
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 Extn 2nd Cross Street

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Mahalakshmi Nagar Extn 2nd Cross Street guideline value

The current guideline value of Mahalakshmi Nagar Extn 2nd Cross 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, and is classified as Residential Class I Type - III.

How the guideline value of Mahalakshmi Nagar Extn 2nd Cross Street has changed

The guideline value of Mahalakshmi Nagar Extn 2nd Cross Street has undergone several revisions over the years. The most recent revision in 2024 set the guideline value at Rs 2,750 per sq.ft, an increase of 10% from Rs 2,500 per sq.ft in 2023. Prior to that, in 2017, the value was Rs 1,675 per sq.ft, marking a significant increase of 49% over the six years leading up to 2023. Overall, from 2017 to 2024, the guideline value has risen by 64%.

The register does not have figures for the years 2002, 2003, 2007, and 2012 for this street. As a result, the only recorded revisions are from 2017, 2023, and the current 2024 revision.

Guideline values in Madipakkam-1

In Madipakkam-1, there are 1823 streets under the Velacheri SRO, with guideline values ranging from Rs 1,650 to Rs 5,500 per sq.ft. The median guideline value for the area is Rs 2,750 per sq.ft, which is equal to the current value of Mahalakshmi Nagar Extn 2nd Cross Street.

Stamp duty and registration fee for property in Mahalakshmi Nagar Extn 2nd Cross Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,750 per sq.ft, the total 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 cost to Rs 2,47,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

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

The Mahalakshmi Nagar Extn 2nd Cross Street falls under 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 critical factor during property registration in Madipakkam-1. It serves as a benchmark for determining the amount of stamp duty and registration fees that are payable when a property transaction occurs.

Frequently asked questions

What is the current guideline value of Mahalakshmi Nagar Extn 2nd Cross Street?

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

How much has the guideline value changed over the years?

Since 2017, the guideline value has increased from Rs 1,675 per sq.ft to Rs 2,750 per sq.ft in 2024, which is an overall increase of 64%.

What is the stamp duty rate for properties in this area?

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

Where can I find the registration office for this street?

The registration office covering Mahalakshmi Nagar Extn 2nd Cross Street is the Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.

What are the other streets with the same guideline value in Madipakkam-1?

Other streets in Madipakkam-1, such as Mahalakshmi Nagar Extn 1st street, Mahalakshmi Nagar Extn 2nd street, and Mahalakshmi Nagar Extn 1st Cross Street, also share the same guideline value of Rs 2,750 per sq.ft as of 2024.