Guideline Value for Mahalakshmi Nagar

Mahalakshmi Nagar guideline value

The current guideline value of Mahalakshmi Nagar is Rs 250 per sq.ft, effective from 1 July 2024. This area is located in Nerumbur village under the Thirukazhukundram SRO, and the land classification is Residential Special Type - I.

How the guideline value of Mahalakshmi Nagar has changed

Over the years, the guideline value for Mahalakshmi Nagar has remained consistent. The 2023 revision also recorded a guideline value of Rs 250 per sq.ft. Therefore, there was no change in the guideline value from 2023 to 2024, reflecting a 0% increase.

Looking further back, the register has no figures for the revisions in 2017, 2012, 2007, 2003, and 2002 for this street. This indicates that the guideline value has not been updated for several years prior to 2023.

Guideline values in Nerumbur

Currently, there are no specific village figures available for Nerumbur. Mahalakshmi Nagar is the only street mentioned under the Thirukazhukundram SRO. As a result, there are no other streets in Nerumbur with guideline values provided.

Stamp duty and registration fee for property in Mahalakshmi Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 250 per sq.ft, the total guideline value amounts to Rs 2,50,000. The stamp duty is charged at 7%, which totals Rs 17,500, and the registration fee at 2% amounts to Rs 5,000. Therefore, the total cost for stamp duty and registration fee together is Rs 22,500. It's 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 Thirukazhukundram Sub Registrar Office, located at Thiruchengode - 637 211, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Nerumbur. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is sold, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties. This ensures that the registration process is consistent and transparent for all parties involved.

Frequently asked questions

What is the current guideline value for Mahalakshmi Nagar?

The current guideline value for Mahalakshmi Nagar is Rs 250 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has remained at Rs 250 per sq.ft for both the 2023 and 2024 revisions, with no changes recorded. Additionally, there are no figures available for the revisions in 2017, 2012, 2007, 2003, and 2002.

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

The Thirukazhukundram Sub Registrar Office covers Mahalakshmi Nagar, located at Thiruchengode - 637 211, Chengalpattu registration zone.

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

For a property valued at Rs 2,50,000, the stamp duty is Rs 17,500 at 7%, and the registration fee is Rs 5,000 at 2%. The total for both is Rs 22,500.

How is the guideline value used during property transactions?

The guideline value is used to determine the stamp duty and registration fees during property transactions. It is compared to the sale price, with the higher amount being used for calculating the applicable duties.