Guideline Value for Mahalakshmi Nagar

Mahalakshmi Nagar guideline value

The current guideline value of Mahalakshmi Nagar, located in Jeganathapuram_3 village under the Ponneri SRO, is Rs 1,083 per sq.ft. This value is effective from 1 July 2024 and falls under the Residential Special Type - I land classification.

How the guideline value of Mahalakshmi Nagar has changed

The guideline value for Mahalakshmi Nagar has seen significant changes over the years. The 2017 revision recorded a value of Rs 725 per sq.ft. This value increased to Rs 1,083 per sq.ft in the 2023 revision, marking a 49% increase. The 2024 revision has maintained this value at Rs 1,083 per sq.ft, showing no change from the previous year.

It is important to note that there are no figures available for the years 2002, 2003, 2007, and 2012 for this street. Overall, from the 2017 revision to the 2024 revision, the guideline value has increased by 49%.

Guideline values in Jeganathapuram_3

In Jeganathapuram_3, three streets under the Ponneri SRO have a 2024 guideline value, ranging from Rs 100 to Rs 1,083 per sq.ft. The median value for these streets is Rs 500 per sq.ft, placing Mahalakshmi Nagar's 2024 figure above this median.

• Madhavan Nagar: Rs 100 per sq.ft (2024)
• Sumangali Plotza: Rs 500 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 1,083 per sq.ft, the total guideline value amounts to Rs 10,83,000. The stamp duty, charged at 7%, would be Rs 75,810, and the registration fee at 2% would be Rs 21,660, bringing the total cost for these fees to Rs 97,470. It is essential to note that duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Mahalakshmi Nagar?

The Mahalakshmi Nagar area falls under the Ponneri Sub Registrar Office, located at 9/5, Taluk Office Road, Ponneri, Chennai-601204. For further assistance, you can find your SRO.

How the guideline value is used when you buy or sell in Jeganathapuram_3

The guideline value plays a crucial role during the registration process of property transactions in Jeganathapuram_3. It is used to determine the applicable stamp duty and registration fees, which are essential for legal documentation.

When buying or selling property, the guideline value ensures that the transaction is recorded at a fair value, reflecting the current market conditions as per the registration department's records.

Frequently asked questions

What is the current guideline value of Mahalakshmi Nagar?

The current guideline value of Mahalakshmi Nagar is Rs 1,083 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value increased from Rs 725 per sq.ft in 2017 to Rs 1,083 per sq.ft in 2023, maintaining the same value in 2024. This represents a 49% increase overall from 2017 to 2024.

What are the other streets in Jeganathapuram_3?

Other streets in Jeganathapuram_3 include Madhavan Nagar with a guideline value of Rs 100 per sq.ft and Sumangali Plotza with a value of Rs 500 per sq.ft for 2024.

Where is the Ponneri Sub Registrar Office located?

The Ponneri Sub Registrar Office is located at 9/5, Taluk Office Road, Ponneri, Chennai-601204.

How is stamp duty calculated for Mahalakshmi Nagar?

Stamp duty for Mahalakshmi Nagar is calculated based on the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at Rs 1,083 per sq.ft results in a total guideline value of Rs 10,83,000, with applicable fees calculated accordingly.