Guideline Value for Mahalakshmi Nagar

Mahalakshmi Nagar guideline value

The current guideline value of Mahalakshmi Nagar, located in Adhanoor village under the Gooduvancheri SRO, is Rs 1,000 per sq.ft. This value is effective from the 1st of July 2024. The land classification for this area is Residential Special Type - I.

How the guideline value of Mahalakshmi Nagar has changed

The guideline value for Mahalakshmi Nagar has seen several revisions over the years. The earliest recorded figure is from 2007, when the guideline value was Rs 200 per sq.ft. This increased significantly to Rs 1,000 per sq.ft in 2012, marking a 400% rise. However, it then decreased to Rs 670 per sq.ft in 2017, a drop of 33%. The guideline value remained at Rs 1,000 per sq.ft in both 2023 and the upcoming 2024 revision, indicating no change from the previous year.

In summary, the guideline value has increased from Rs 200 per sq.ft in 2007 to Rs 1,000 per sq.ft in 2024, representing an overall increase of 400%. Notably, there are no figures available for the revisions in 2002 and 2003 for this street.

Guideline values in Adhanoor

In Adhanoor, there are 169 streets under the Gooduvancheri SRO that carry a guideline value for 2024, ranging from Rs 670 to Rs 3,000 per sq.ft. The median guideline value for the area is Rs 1,000 per sq.ft, which is the same as the current value for Mahalakshmi Nagar.

• Lodhika Shree Nagar: Rs 1,000 per sq.ft (2024)
• Lakshmi Nagar: Rs 1,000 per sq.ft (2024)
• Kumaran Avenue: Rs 1,000 per sq.ft (2024)
• Maruthi Nagar: Rs 1,000 per sq.ft (2024)
• Meenakshi Nagar: Rs 1,000 per sq.ft (2024)
• Krishna Nagar (Extn): Rs 1,000 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 1,000 per sq.ft, the total guideline value amounts to Rs 10,00,000. The stamp duty at 7% would be Rs 70,000, and the registration fee at 2% would be Rs 20,000, bringing the total charges to Rs 90,000. 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?

The Sub Registrar Office that covers Mahalakshmi Nagar 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 information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Adhanoor. It serves as a benchmark for calculating stamp duty and registration fees, ensuring that these charges are based on a standardized value set by the authorities.

When a property is registered, the guideline value helps determine the minimum price at which the property can be sold. This ensures transparency and fairness in property transactions, as the guideline value reflects the prevailing market conditions in the area.

Frequently asked questions

What is the current guideline value of Mahalakshmi Nagar?

The current guideline value of Mahalakshmi Nagar is Rs 1,000 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 200 per sq.ft in 2007 to Rs 1,000 per sq.ft in 2024, with various revisions in between. The value remained stable at Rs 1,000 per sq.ft in 2023 and 2024.

What is the land classification for Mahalakshmi Nagar?

The land classification for Mahalakshmi Nagar is Residential Special Type - I, indicating its suitability for residential development.

What are the stamp duty and registration fees for properties in Mahalakshmi Nagar?

For a property valued at Rs 10,00,000, the stamp duty would be Rs 70,000 and the registration fee would be Rs 20,000, totaling Rs 90,000. These fees are based on the guideline value or the sale price, whichever is higher.

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

The Sub Registrar Office covering Mahalakshmi Nagar is located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvanjery-603202, Chengalpattu registration zone.