Guideline Value for Mahalakshmi Nagar

Mahalakshmi Nagar guideline value

The current guideline value of Mahalakshmi Nagar is Rs 1,100 per sq.ft, effective from 1 July 2024. This area is located in Pozhichalur village, under the Pammal SRO, and is classified as Residential Class II Type - I.

How the guideline value of Mahalakshmi Nagar has changed

The guideline value for Mahalakshmi Nagar has undergone several revisions since 2007. In 2007, the guideline value was Rs 400 per sq.ft, which increased to Rs 670 per sq.ft in 2017, a change of 68%. The 2023 revision saw the value rise to Rs 1,000 per sq.ft, marking a significant increase of 49% from the previous revision. The most recent revision in 2024 set the guideline value at Rs 1,100 per sq.ft, reflecting a 10% increase from 2023.

There are no recorded figures for the years 2002, 2003, and 2012 for this street. Overall, from 2007 to 2024, the guideline value has increased by 175%.

Guideline values in Pozhichalur

In Pozhichalur, there are 299 streets under the Pammal SRO that carry a 2024 guideline value ranging from Rs 1,100 to Rs 4,500 per sq.ft, with a median value of Rs 1,320 per sq.ft. Mahalakshmi Nagar's 2024 guideline value is below this median.

• Mailai Guruji Street: Rs 1,100 per sq.ft (2024)
• Mailamani 1st Street: Rs 1,100 per sq.ft (2024)
• Mailamani 2nd Street: Rs 1,100 per sq.ft (2024)
• Mailamani 3rd Street: Rs 1,100 per sq.ft (2024)
• Lingam Nagar: Rs 1,320 per sq.ft (2024)
• Malligai Street: Rs 1,100 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 1,100 per sq.ft, the total guideline value would be Rs 11,00,000. The stamp duty at 7% would amount to Rs 77,000, and the registration fee at 2% would be Rs 22,000, totaling Rs 99,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Mahalakshmi Nagar?

The Mahalakshmi Nagar area falls under the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, 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 Pozhichalur

The guideline value is a crucial factor in the registration process of property transactions in Pozhichalur. It serves as a benchmark for determining the stamp duty and registration fees applicable during the sale or purchase of property.

When buying or selling property, the guideline value ensures that the transaction is recorded accurately and that the appropriate fees are collected by the registration authorities. This helps maintain transparency and standardization in property dealings.

Frequently asked questions

What is the current guideline value of Mahalakshmi Nagar?

The current guideline value of Mahalakshmi Nagar is Rs 1,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 400 per sq.ft in 2007 to Rs 1,100 per sq.ft in 2024, marking a total increase of 175% over the period.

What are the other streets in Pozhichalur with the same guideline value?

Other streets in Pozhichalur that share the same guideline value of Rs 1,100 per sq.ft in 2024 include Mailai Guruji Street, Mailamani 1st Street, Mailamani 2nd Street, Mailamani 3rd Street, and Malligai Street.

What is the stamp duty rate for properties in Mahalakshmi Nagar?

The stamp duty rate for properties in Mahalakshmi Nagar is 7% of the guideline value or the sale price, whichever is higher.

Where is the Pammal Sub Registrar Office located?

The Pammal Sub Registrar Office is located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, in the Chengalpattu registration zone.