Guideline Value

Corporate

Guideline Value for Mahalakshmi Nagar Extn I and II

₹990/sq.ft.

The guideline value for Mahalakshmi Nagar Extn I And Ii in Nandambakkam village (Padappai SRO, Chennai zone) is Rs 990 per sq.ft, effective 1 July 2024. It was Rs 900 per sq.ft from 1 April 2023, a 10% change. The land classification is Residential Special Type - I. Source: TNReginet guideline value register.

Last updated:

Chennai

Zone

Nandambakkam

Village

Padappai

SRO

Residential Special Type - I
History
Period Guideline Value
From 1-7-2024 ₹990 /sq.ft.
From 1-4-2023 ₹900 /sq.ft.
From 9-6-2017 To 31-3-2023 ₹603 /sq.ft.
From 1-4-2012 To 8-6-2017 ₹900 /sq.ft.
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)

3/158, Pushpagiri Main Rd, Padappai - 601 301.
044-27174392
[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 I And Ii

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Mahalakshmi Nagar Extn I and II guideline value

The current guideline value of Mahalakshmi Nagar Extn I and II is Rs 990 per sq.ft, effective from 1 July 2024. This area is located in Nandambakkam village and falls under the Padappai SRO. The land classification for this region is Residential Special Type - I.

How the guideline value of Mahalakshmi Nagar Extn I and II has changed

The guideline value for Mahalakshmi Nagar Extn I and II has undergone several revisions over the years. The 2012 revision set the value at Rs 900 per sq.ft, which was followed by a decrease to Rs 603 per sq.ft in the 2017 revision. However, from 2017 to 2023, the value increased significantly to Rs 900 per sq.ft, and the latest revision in 2024 has further raised the guideline value to Rs 990 per sq.ft, marking a 10% increase from the previous year.

In summary, the changes between the revisions are as follows: from 2012 to 2017, the value decreased by 33%; from 2017 to 2023, it increased by 49%; and overall, from 2012 to 2024, there has been a 10% increase. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Nandambakkam

Nandambakkam village has a total of 94 streets under the Padappai SRO, with guideline values ranging from Rs 440 to Rs 2,300 per sq.ft as of 2024. The median guideline value in this area is Rs 880 per sq.ft, placing Mahalakshmi Nagar Extn I and II above this median.

Stamp duty and registration fee for property in Mahalakshmi Nagar Extn I and II

For a 1,000 sq.ft plot at the current guideline value of Rs 990 per sq.ft, the total guideline value amounts to Rs 9,90,000. The stamp duty at 7% would be Rs 69,300, and the registration fee at 2% would be Rs 19,800, making the total cost for these fees Rs 89,100. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

You can also use the stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Mahalakshmi Nagar Extn I and II?

The Sub Registrar Office that covers Mahalakshmi Nagar Extn I and II is the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone. You can find your SRO for more details.

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

The guideline value is a crucial factor in the registration process of property transactions in Nandambakkam. It is used to determine the amount of stamp duty and registration fees that must be paid when a property is bought or sold. The fees are calculated based on the guideline value or the sale price, whichever is higher.

When engaging in a property transaction, it is essential to be aware of the current guideline value as it directly impacts the overall cost of the transaction. Ensuring that you have the correct information can help facilitate a smooth registration process.

Frequently asked questions

What is the current guideline value of Mahalakshmi Nagar Extn I and II?

The current guideline value of Mahalakshmi Nagar Extn I and II is Rs 990 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen several changes, from Rs 900 per sq.ft in 2012 to Rs 603 per sq.ft in 2017, followed by a rise to Rs 900 per sq.ft in 2023, and finally reaching Rs 990 per sq.ft in 2024.

What is the land classification for Mahalakshmi Nagar Extn I and II?

The land classification for Mahalakshmi Nagar Extn I and II is Residential Special Type - I.

Which office handles registrations for properties in this area?

The Padappai Sub Registrar Office handles registrations for properties in Mahalakshmi Nagar Extn I and II. The office is located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone.

How is stamp duty calculated for properties in Nandambakkam?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, if the guideline value is Rs 9,90,000, the stamp duty at 7% would be Rs 69,300.