Guideline Value for Mahalakshmi Nagar

Mahalakshmi Nagar guideline value

The current guideline value of Mahalakshmi Nagar is Rs 300 per sq.ft, effective from 1 July 2024. This area is located in Thalimangalam village under the Chengleput Joint II SRO, classified as Residential Class I Type - II.

How the guideline value of Mahalakshmi Nagar has changed

The guideline value for Mahalakshmi Nagar has undergone several revisions over the years. In 2007, the guideline value was Rs 60 per sq.ft, which increased significantly to Rs 300 per sq.ft in 2012. However, it then decreased to Rs 201 per sq.ft in 2017. The value remained at Rs 300 per sq.ft during the 2023 revision and has stayed the same for the 2024 revision, showing no change from the previous year.

Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 400%. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Thalimangalam

In Thalimangalam village, there are 9 streets under the Chengleput Joint II SRO that carry a 2024 guideline value ranging from Rs 300 to Rs 500 per sq.ft, with a median of Rs 400 per sq.ft. Mahalakshmi Nagar's 2024 figure is below that median.

• Murugan Avenue: Rs 500 per sq.ft (2024)
• Jsn Enclave: Rs 400 per sq.ft (2024)
• Rajeswari Nagar: Rs 300 per sq.ft (2024)
• Sabari Garden: Rs 400 per sq.ft (2024)
• Bharathi Nagar: Rs 500 per sq.ft (2024)
• Sri Valli Nagar: Rs 500 per sq.ft (2024)

Stamp duty and registration fee for property in Mahalakshmi Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 300 per sq.ft, the total guideline value amounts to Rs 3,00,000. The stamp duty at 7% would be Rs 21,000, and the registration fee at 2% would be Rs 6,000, bringing the total charges to Rs 27,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Mahalakshmi Nagar?

The Mahalakshmi Nagar area is covered by the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor during property transactions in Thalimangalam, as it determines the minimum price at which a property can be registered. Buyers and sellers must consider this value when negotiating sale prices, as the registration office will use it to calculate applicable duties and fees.

When registering a property, the guideline value is used to assess stamp duty and registration fees. This ensures that all transactions are documented accurately and in compliance with local regulations, reflecting the property's official value.

Frequently asked questions

What is the current guideline value of Mahalakshmi Nagar?

The current guideline value of Mahalakshmi Nagar is Rs 300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 60 per sq.ft in 2007 to Rs 300 per sq.ft in 2012, then decreased to Rs 201 per sq.ft in 2017, and remained at Rs 300 per sq.ft in 2023 and 2024.

What is the registration office for Mahalakshmi Nagar?

The registration office for Mahalakshmi Nagar is the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002.

How is stamp duty calculated in Mahalakshmi Nagar?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a plot valued at Rs 3,00,000, the stamp duty at 7% would be Rs 21,000.

Are there other streets in Thalimangalam with different guideline values?

Yes, there are other streets in Thalimangalam with guideline values ranging from Rs 300 to Rs 500 per sq.ft. For instance, Murugan Avenue has a guideline value of Rs 500 per sq.ft in 2024.