Guideline Value

Corporate

Guideline Value for Mahalakshmi Nagar

₹1320/sq.ft.

The guideline value for Mahalakshmi Nagar in Varadarajapuram village (Padappai SRO, Chennai zone) is Rs 1320 per sq.ft, effective 1 July 2024. It was Rs 1200 per sq.ft from 1 April 2023, a 10% change. The land classification is Residential Class I Type - I. Source: TNReginet guideline value register.

Last updated:

Chennai

Zone

Varadarajapuram

Village

Padappai

SRO

Residential Class I Type - I
History
Period Guideline Value
From 1-7-2024 ₹1320 /sq.ft.
From 1-4-2023 ₹1200 /sq.ft.
From 9-6-2017 To 31-3-2023 ₹804 /sq.ft.
From 1-4-2012 To 8-6-2017 ₹1200 /sq.ft.
From 1-8-2007 To 31-3-2012 ₹450 /sq.ft.
From 1-4-2003 To 31-7-2007 N/A
From 1-4-2002 To 31-3-2003 N/A
Guideline Value Timeline
Guideline Value Comparison

SRO (Sub Registrar Office)

3/158, Pushpagiri Main Rd, Padappai - 601 301.
044-27174392
[email protected]

DRO (District Registrar Office)

Integrated Building For Offices Of The Commercial Taxes And Registration Department, Fanepet, Nandhanam, Chennai - 35.
044-22505552
[email protected], [email protected]

DIG (Deputy Inspector General)

Integrated Building For Offices Of The Commercial Taxes And Registration, Department Fanepet, Nandanam, Chennai - 600 035.
044-29510527
[email protected]

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Mahalakshmi Nagar guideline value

The current guideline value of Mahalakshmi Nagar, located in Varadarajapuram village under the Padappai SRO, is Rs 1,320 per sq.ft, effective from 1 July 2024. This area falls under the Residential Class I Type - I land classification.

How the guideline value of Mahalakshmi Nagar has changed

The guideline value for Mahalakshmi Nagar has seen several revisions over the years. In the 2007 revision, the value was Rs 450 per sq.ft. This increased significantly to Rs 1,200 per sq.ft in 2012, marking a 167% rise. However, in the 2017 revision, the value decreased to Rs 804 per sq.ft, a drop of 33%. The next revision in 2023 raised the value to Rs 1,200 per sq.ft, and the most recent 2024 revision set it at Rs 1,320 per sq.ft, reflecting a 10% increase from the previous year.

Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 193%. It is important to note that there are no figures available for the years 2002 and 2003 for this street.

Guideline values in Varadarajapuram

In Varadarajapuram, there are 250 streets under the Padappai SRO that carry a 2024 guideline value ranging from Rs 880 to Rs 4,100 per sq.ft, with a median value of Rs 1,650 per sq.ft. Mahalakshmi Nagar's 2024 guideline value is below this median.

Stamp duty and registration fee for property in Mahalakshmi Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,320 per sq.ft, the total guideline value amounts to Rs 13,20,000. The stamp duty at 7% would be Rs 92,400, and the registration fee at 2% would be Rs 26,400, bringing the total charges to Rs 1,18,800. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Mahalakshmi Nagar?

The Sub Registrar Office that covers Mahalakshmi Nagar is the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone. You can find your SRO for more details.

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

The guideline value is a crucial factor during the registration of property transactions in Varadarajapuram. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid, ensuring compliance with local regulations.

When buying or selling property, the guideline value is compared with the sale price, and the higher of the two is used to calculate the applicable duties and fees. This ensures that both buyers and sellers are aware of the official valuation of the property in question.

Frequently asked questions

What is the current guideline value of Mahalakshmi Nagar?

The current guideline value of Mahalakshmi Nagar is Rs 1,320 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 450 per sq.ft in 2007 to Rs 1,320 per sq.ft in 2024, marking an overall increase of 193% over the years.

What are the other streets in Varadarajapuram with their guideline values?

Other streets in Varadarajapuram include Mahalakshmi Nagar Extension and Madhanapuram at Rs 1,320 per sq.ft, M.A Avenue Main Road at Rs 1,650 per sq.ft, and Leda, Latheef Nagar, and LakshmiNarayana Avenue at Rs 990 per sq.ft, all for the year 2024.

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

For a 1,000 sq.ft plot in Mahalakshmi Nagar, the stamp duty would be Rs 92,400 and the registration fee would be Rs 26,400, totaling Rs 1,18,800 based on the current guideline value.

Where is the Sub Registrar Office for Mahalakshmi Nagar located?

The Sub Registrar Office for Mahalakshmi Nagar is located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone.