Guideline Value for Mahalakshmi Nagar

Mahalakshmi Nagar guideline value

The current guideline value of Mahalakshmi Nagar is Rs 550 per sq.ft, effective from 1 July 2024. This locality is situated in Vadakal_C village, under the Sriperumpudur SRO, and is classified as Residential Special Type - I.

How the guideline value of Mahalakshmi Nagar has changed

The guideline value for Mahalakshmi Nagar has undergone several revisions over the years. The register does not contain figures for the years 2002, 2003, 2007, 2012, and 2017. In the 2023 revision, the guideline value was set at Rs 500 per sq.ft, which increased to Rs 550 per sq.ft in the 2024 revision, marking a change of +10%.

Prior to the 2023 revision, there were no recorded figures for the street in the aforementioned years. The most recent revisions reflect an upward adjustment in the guideline value, indicating a notable increase from the previous year.

Guideline values in Vadakal_C

In Vadakal_C, there are 61 streets under the Sriperumpudur SRO that have a 2024 guideline value ranging from Rs 150 to Rs 1,500 per sq.ft. The median guideline value for these streets is Rs 400 per sq.ft, placing Mahalakshmi Nagar's 2024 figure above this median.

• Mahidhara supreme classic: Rs 1,200 per sq.ft (2024)
• Mariyamman Koil Street: Rs 200 per sq.ft (2024)
• Kumaran nagar: Rs 550 per sq.ft (2024)
• Melmaruvathur Adiparasakthi Nagar: Rs 550 per sq.ft (2024)
• M.G.R.Nagar: Rs 400 per sq.ft (2024)
• Mohamed Nagar: Rs 300 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 550 per sq.ft, the total guideline value amounts to Rs 5,50,000. The stamp duty at 7% would be Rs 38,500, and the registration fee at 2% would be Rs 11,000, resulting in a total of Rs 49,500. It is important to note that the 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 Sub Registrar Office that covers Mahalakshmi Nagar is the Sriperumpudur Sub Registrar Office, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor when buying or selling property in Vadakal_C, as it determines the stamp duty and registration fees applicable during the transaction. Buyers and sellers must refer to the guideline value to ensure they are compliant with the local regulations during the registration process.

When a property is sold, the guideline value serves as a benchmark for assessing the transaction value. It is essential for both parties to understand this value to avoid any discrepancies during the registration of the property.

Frequently asked questions

What is the current guideline value of Mahalakshmi Nagar?

The current guideline value of Mahalakshmi Nagar is Rs 550 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 500 per sq.ft in 2023 to Rs 550 per sq.ft in 2024, reflecting a +10% change. There are no recorded figures for the years 2002, 2003, 2007, 2012, and 2017.

What is the land classification for Mahalakshmi Nagar?

Mahalakshmi Nagar is classified as Residential Special Type - I. This classification is important for determining the uses and regulations applicable to the property in this area.

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

For a property valued at Rs 5,50,000, the stamp duty would be Rs 38,500 and the registration fee would be Rs 11,000, totaling Rs 49,500. These fees are calculated based on the guideline value or the sale price, whichever is higher.

Where is the Sub Registrar Office for Mahalakshmi Nagar located?

The Sriperumpudur Sub Registrar Office is located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone. This office handles the registration of properties in Mahalakshmi Nagar.