Guideline Value for Mahalakshmi Nagar

Mahalakshmi Nagar guideline value

The current guideline value of Mahalakshmi Nagar, located in Santhavellur village under the Sunguvarchattram SRO, is Rs 400 per sq.ft. This value is effective from 1 July 2024 and falls under the Residential Special Type - III land classification.

How the guideline value of Mahalakshmi Nagar has changed

The guideline value for Mahalakshmi Nagar has undergone several revisions over the years. The earliest available revision is from 2012, when the guideline value was Rs 400 per sq.ft. In 2017, it decreased to Rs 268 per sq.ft, marking a decline of 33%. However, by the 2023 revision, the value returned to Rs 400 per sq.ft, and it remained the same in the 2024 revision, showing no change from the previous year.

From 2017 to 2023, there was a significant increase of 49%. Overall, from 2012 to 2024, the guideline value has not changed, remaining at Rs 400 per sq.ft. There are no figures available for the revisions in 2002, 2003, and 2007 for this street.

Guideline values in Santhavellur

In Santhavellur, there are 63 streets under the Sunguvarchattram SRO that carry a 2024 guideline value, ranging from Rs 200 to Rs 2,800 per sq.ft. The median value for these streets is Rs 500 per sq.ft, indicating that Mahalakshmi Nagar's 2024 figure is below this median.

• Lucky Land: Rs 305 per sq.ft (2024)
• Mariamman Kovil Street: Rs 250 per sq.ft (2024)
• Maruthi Avenue: Rs 700 per sq.ft (2024)
• Kumaran Nagar: Rs 305 per sq.ft (2024)
• Kullakkarai Street: Rs 300 per sq.ft (2024)
• Krishna Nagar: Rs 600 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 400 per sq.ft, the total guideline value would be Rs 4,00,000. The stamp duty at 7% would amount to Rs 28,000, and the registration fee at 2% would be Rs 8,000, making the total charges Rs 36,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use the stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Mahalakshmi Nagar?

Mahalakshmi Nagar falls under the jurisdiction of the Sunguvarchattram Sub Registrar Office, located at Vadivamal Nagar Kandigai Road, opposite Caparo Company, Sunguvarchatram, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in property transactions in Santhavellur. It is used to determine the stamp duty and registration fees that buyers must pay when purchasing property. The guideline value ensures that the government receives the appropriate taxes based on the property's assessed value.

When selling property, the guideline value can influence the sale price, as it provides a benchmark for both buyers and sellers. It is essential for both parties to be aware of the current guideline value to ensure a fair transaction.

Frequently asked questions

What is the current guideline value of Mahalakshmi Nagar?

The current guideline value of Mahalakshmi Nagar is Rs 400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen various changes, with the most recent revisions being Rs 400 per sq.ft in both 2023 and 2024. It was Rs 268 per sq.ft in 2017 and Rs 400 per sq.ft in 2012.

What is the land classification for Mahalakshmi Nagar?

Mahalakshmi Nagar is classified as Residential Special Type - III according to the guideline value register.

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

For a property valued at Rs 4,00,000, the stamp duty would be Rs 28,000 and the registration fee would be Rs 8,000, totaling Rs 36,000.

Which office handles property registrations for Mahalakshmi Nagar?

The Sunguvarchattram Sub Registrar Office handles property registrations for Mahalakshmi Nagar, located at Vadivamal Nagar Kandigai Road, opposite Caparo Company, Sunguvarchatram, Chengalpattu registration zone.