Guideline Value for Mahalakshmi Nagar

Mahalakshmi Nagar guideline value

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

How the guideline value of Mahalakshmi Nagar has changed

In the 2017 revision, the guideline value was Rs 268 per sq.ft. This figure remained unchanged in the 2023 revision, where it was also Rs 400 per sq.ft. The most recent revision in 2024 has kept the guideline value at Rs 400 per sq.ft, indicating a 0% change from 2023. Overall, from 2017 to 2024, there has been a significant increase of 49% in the guideline value.

The revisions for the years 2002, 2003, 2007, and 2012 have no figures listed for Mahalakshmi Nagar in the register. Therefore, the only relevant figures for this street are from 2017, 2023, and 2024, showing a consistent value of Rs 400 per sq.ft since 2023.

Guideline values in Santhavellur_C

In Santhavellur_C, there are 52 streets under the Sunguvarchattram SRO that carry a 2024 guideline value ranging from Rs 200 to Rs 2,000 per sq.ft. The median value for these streets is Rs 350 per sq.ft, placing Mahalakshmi Nagar's 2024 figure above this median.

• Lucky Land: Rs 300 per sq.ft (2024)
• Mariamman Kovil Street: Rs 250 per sq.ft (2024)
• Maruthi Avenue: Rs 700 per sq.ft (2024)
• Kumaran Nagar: Rs 300 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 rate of Rs 400 per sq.ft, the guideline value amounts to Rs 4,00,000. The stamp duty at 7% would be Rs 28,000, and the registration fee at 2% would be Rs 8,000, totaling Rs 36,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can calculate your fees using the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Mahalakshmi Nagar?

The Mahalakshmi Nagar area falls under the jurisdiction of the Sunguvarchattram Sub Registrar Office, located at Vadivamal Nagar Kandigai Road Caparo Company Opp, 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_C

The guideline value is a crucial factor during the registration of property transactions in Santhavellur_C. It determines the minimum value at which a property can be registered and is used to calculate the stamp duty and registration fees payable at the time of the transaction.

When buying or selling property, the guideline value ensures that the transaction is documented at a value that reflects the prevailing rates in the area. This helps in maintaining transparency and accountability in property dealings.

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 remained at Rs 400 per sq.ft since 2023, showing a 49% increase from Rs 268 per sq.ft in 2017. There have been no changes in the value for the years 2023 to 2024.

What are the guideline values of other streets in Santhavellur_C?

Other streets in Santhavellur_C have varying guideline values ranging from Rs 200 to Rs 2,000 per sq.ft, with a median value of Rs 350 per sq.ft. Mahalakshmi Nagar's value is above this median.

What is the stamp duty for property in Mahalakshmi Nagar?

The stamp duty for property in Mahalakshmi Nagar is calculated at 7% of the guideline value. For a property valued at Rs 4,00,000, the stamp duty would be Rs 28,000.

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

The Sub Registrar Office for Mahalakshmi Nagar is located at Vadivamal Nagar Kandigai Road Caparo Company Opp, Sunguvarchatram, Chengalpattu registration zone. You can find more information about your SRO online.