Guideline Value for Mahalakshmi Nagar

Mahalakshmi Nagar guideline value

The current guideline value of Mahalakshmi Nagar is Rs 800 per sq.ft, effective from 1 July 2024. This area is located in Thirumangalam village and falls under the Sunguvarchattram SRO. The land classification for this locality is Residential Special Type - I.

How the guideline value of Mahalakshmi Nagar has changed

The guideline value of Mahalakshmi Nagar has undergone several revisions over the years. In 2007, the guideline value was Rs 150 per sq.ft, which saw a significant increase of 433% to Rs 800 per sq.ft in 2012. However, from 2012 to 2017, the value decreased by 33% to Rs 536 per sq.ft. The value then rose by 49% to Rs 800 per sq.ft in 2023, remaining unchanged in the 2024 revision.

It is important to note that there are no figures available for the years 2002 and 2003 in the register for this street. Overall, from 2007 to 2024, the guideline value has increased by 433%.

Guideline values in Thirumangalam

In Thirumangalam, there are 42 streets under the Sunguvarchattram SRO that carry a 2024 guideline value ranging from Rs 250 to Rs 2,000 per sq.ft. The median guideline value for these streets is Rs 605 per sq.ft, making Mahalakshmi Nagar's 2024 figure of Rs 800 per sq.ft above the median.

• Malai Matha Nagar: Rs 605 per sq.ft (2024)
• Kuravar Street: Rs 605 per sq.ft (2024)
• Kulakarai Ist street: Rs 700 per sq.ft (2024)
• Kulakarai IInd Street: Rs 700 per sq.ft (2024)
• Mettu Street: Rs 300 per sq.ft (2024)
• Kent Grdern: Rs 2,000 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 800 per sq.ft, the total guideline value amounts to Rs 8,00,000. The stamp duty at 7% would be Rs 56,000, and the registration fee at 2% would be Rs 16,000, bringing the total to Rs 72,000. It is essential to note that the duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator for further calculations.

Which Sub Registrar Office covers Mahalakshmi Nagar?

The Sub Registrar Office that covers Mahalakshmi Nagar is 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 Thirumangalam

The guideline value plays a crucial role when buying or selling property in Thirumangalam. It is used to determine the stamp duty and registration fees that need to be paid during the registration process. Buyers and sellers should be aware that the guideline value is a standard reference point for property transactions.

When a property is registered, the guideline value is compared with the sale price, and the higher of the two is taken into account for calculating the applicable duties and fees. This ensures that the transaction is accurately documented and that the appropriate taxes are collected by the government.

Frequently asked questions

What is the current guideline value of Mahalakshmi Nagar?

The current guideline value of Mahalakshmi Nagar is Rs 800 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 150 per sq.ft in 2007 to Rs 800 per sq.ft in 2024, with various increases and decreases in between.

What is the median guideline value in Thirumangalam?

The median guideline value in Thirumangalam is Rs 605 per sq.ft, with Mahalakshmi Nagar's 2024 figure of Rs 800 per sq.ft being above this median.

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

For a 1,000 sq.ft plot at the guideline value of Rs 800 per sq.ft, the total guideline value is Rs 8,00,000. The stamp duty would be Rs 56,000, and the registration fee would be Rs 16,000, totaling Rs 72,000.

Which Sub Registrar Office covers Mahalakshmi Nagar?

The Sunguvarchattram Sub Registrar Office covers Mahalakshmi Nagar, located at Vadivamal Nagar Kandigai Road Caparo Company Opp, Sunguvarchatram, Chengalpattu registration zone.