Guideline Value

Corporate

Guideline Value for Mahalakshmi Nagar Extn 5th Cross Street

₹2750/sq.ft.

The guideline value for Mahalakshmi Nagar Extn 5th 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 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 Extn 5th Cross Street

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Mahalakshmi Nagar Extn 5th Cross Street guideline value

The current guideline value of Mahalakshmi Nagar Extn 5th 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 5th Cross Street has changed

According to the register, there are no figures available for Mahalakshmi Nagar Extn 5th Cross Street for the years 2002, 2003, 2007, 2012, and 2017. The guideline value was Rs 2,500 per sq.ft in 2023, which increased by 10% to Rs 2,750 per sq.ft in the 2024 revision.

The current figure of Rs 2,750 per sq.ft is the latest revision and reflects the updated valuation effective from 1 July 2024.

Guideline values in Madipakkam-1

In Madipakkam-1, there are 1,823 streets under the Velacheri SRO, with guideline values ranging from Rs 1,650 to Rs 5,500 per sq.ft. The median guideline value in this area is Rs 2,750 per sq.ft, which is equal to the current value of Mahalakshmi Nagar Extn 5th Cross Street.

Stamp duty and registration fee for property in Mahalakshmi Nagar Extn 5th 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 amounts to Rs 27,50,000. The stamp duty at 7% is Rs 1,92,500, and the registration fee at 2% is Rs 55,000, leading to a total cost of 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 further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Mahalakshmi Nagar Extn 5th Cross Street?

The Mahalakshmi Nagar Extn 5th Cross Street is covered by 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 details.

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

The guideline value plays a crucial role in the registration process of property transactions in Madipakkam-1. It is used to determine the stamp duty and registration fees applicable when buying or selling property in the area.

When a property is registered, the guideline value is considered to ensure that the transaction reflects the official valuation, which helps in maintaining transparency and accountability in property dealings.

Frequently asked questions

What is the current guideline value of Mahalakshmi Nagar Extn 5th Cross Street?

The current guideline value of Mahalakshmi Nagar Extn 5th Cross Street is Rs 2,750 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value for Mahalakshmi Nagar Extn 5th Cross Street was Rs 2,500 per sq.ft in 2023 and increased by 10% to Rs 2,750 per sq.ft in 2024. There are no figures available for the years 2002, 2003, 2007, 2012, and 2017.

What is the land classification for this street?

Mahalakshmi Nagar Extn 5th Cross Street is classified as Residential Class I Type - III, indicating its designation for residential development.

What are the registration fees for property transactions?

The registration fees for property transactions are calculated based on the guideline value. For example, for a property valued at Rs 27,50,000, the stamp duty is Rs 1,92,500, and the registration fee is Rs 55,000.

Where can I find the Sub Registrar Office for this area?

The Sub Registrar Office covering Mahalakshmi Nagar Extn 5th Cross Street is the Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042. You can find more information by visiting the appropriate link.