Guideline Value for Mahalakshmi Nagar Extn

Mahalakshmi Nagar Extn guideline value

The current guideline value for Mahalakshmi Nagar Extn is Rs 800 per sq.ft, effective from 1 July 2024. This area is located in Karanaipuducheri village and falls under the Gooduvancheri SRO. The land classification for this street is Residential Class I Type - II.

How the guideline value of Mahalakshmi Nagar Extn has changed

The guideline value for Mahalakshmi Nagar Extn has seen several revisions over the years. In 2007, the guideline value was Rs 200 per sq.ft, which increased significantly to Rs 800 per sq.ft in 2012, marking a 300% increase. However, from 2012 to 2017, there was a decrease of 33%, bringing the value down to Rs 536 per sq.ft. The value then rose by 49% to Rs 800 per sq.ft in 2023, and it has remained unchanged at Rs 800 per sq.ft in the 2024 revision.

Between the 2023 and 2024 revisions, there was no change, with the guideline value remaining at Rs 800 per sq.ft. The revisions for the years 2002 and 2003 do not have figures available for this street in the register.

Guideline values in Karanaipuducheri

In Karanaipuducheri, there are 108 streets under the Gooduvancheri SRO that carry a 2024 guideline value ranging from Rs 400 to Rs 2,239 per sq.ft, with a median value of Rs 802 per sq.ft. The guideline value for Mahalakshmi Nagar Extn is below this median.

• Mahalakshmi Nagar: Rs 800 per sq.ft (2024)
• Mahendravarman Nagar: Rs 800 per sq.ft (2024)
• Mailima Nagar: Rs 800 per sq.ft (2024)
• Malar Avenue: Rs 700 per sq.ft (2024)
• Lingam Nagar Extn: Rs 800 per sq.ft (2024)
• Lingam Nagar: Rs 800 per sq.ft (2024)

Stamp duty and registration fee for property in Mahalakshmi Nagar Extn

For a 1,000 sq.ft plot at the current guideline value of Rs 800 per sq.ft, the total guideline value would be Rs 8,00,000. The stamp duty at 7% would amount to Rs 56,000, and the registration fee at 2% would be Rs 16,000, bringing the total to Rs 72,000. It is important to note that duty is charged on the higher of the guideline value and the sale price. For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Mahalakshmi Nagar Extn?

The Sub Registrar Office that covers Mahalakshmi Nagar Extn is the Gooduvancheri Sub Registrar Office, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvanjery-603202, Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value is a crucial factor during property transactions in Karanaipuducheri. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid when registering a property. Buyers and sellers must be aware of the current guideline value to ensure compliance with legal requirements.

When a property is sold, the guideline value is used to assess the appropriate taxes. The registration process will involve calculating the stamp duty based on the higher value between the guideline value and the sale price, ensuring that all parties adhere to the regulations set by the Registration Department.

Frequently asked questions

What is the current guideline value for Mahalakshmi Nagar Extn?

The current guideline value for Mahalakshmi Nagar Extn is Rs 800 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed multiple times, starting from Rs 200 per sq.ft in 2007 to Rs 800 per sq.ft in 2012. It then decreased to Rs 536 per sq.ft in 2017, before returning to Rs 800 per sq.ft in 2023 and remaining the same in 2024.

What are the other streets in Karanaipuducheri with similar guideline values?

Other streets in Karanaipuducheri with a guideline value of Rs 800 per sq.ft in 2024 include Mahalakshmi Nagar, Mahendravarman Nagar, Mailima Nagar, Lingam Nagar Extn, and Lingam Nagar. Malar Avenue has a slightly lower value of Rs 700 per sq.ft.

How is stamp duty calculated for properties in Mahalakshmi Nagar Extn?

Stamp duty for properties in Mahalakshmi Nagar Extn is calculated based on the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft property at a guideline value of Rs 800 per sq.ft would incur a total stamp duty of Rs 56,000.

Where can I find the Sub Registrar Office for Mahalakshmi Nagar Extn?

The Sub Registrar Office for Mahalakshmi Nagar Extn is located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvanjery-603202, Chengalpattu registration zone. You can find more information by visiting the appropriate link.