Guideline Value for Mahalakshmi Street

Mahalakshmi Street guideline value

The current guideline value of Mahalakshmi Street in Thirumullaivoyal village, under the Ambattur SRO, is Rs 1,500 per sq.ft, effective from 1 July 2024. This street falls under the Residential Class III Type - II land classification.

How the guideline value of Mahalakshmi Street has changed

The guideline value for Mahalakshmi Street has undergone several revisions over the years. In 2003, the guideline value was Rs 140 per sq.ft, which increased significantly to Rs 200 per sq.ft in 2007. This was followed by a substantial rise to Rs 1,400 per sq.ft in 2012, before dropping to Rs 938 per sq.ft in 2017. The most recent revision in 2024 set the guideline value at Rs 1,500 per sq.ft, marking a 60% increase from the 2017 figure.

Overall, from 2003 to 2024, the guideline value has increased by 971%. Notably, there are no figures available for the years 2002 and 2023 in the register for this street.

Guideline values in Thirumullaivoyal

In Thirumullaivoyal, there are 975 streets under the Ambattur SRO that carry a 2024 guideline value ranging from Rs 880 to Rs 5,500 per sq.ft, with a median value of Rs 2,400 per sq.ft. The guideline value for Mahalakshmi Street is below this median.

• Mahatma Gandhi Street (senthil nagar): Rs 2,700 per sq.ft (2024)
• Mahaveer Street (Senthil Nagar): Rs 2,700 per sq.ft (2024)
• Maheswari Street (Devi Nagar): Rs 2,400 per sq.ft (2024)
• Mahabharatham Street (Sri Sakthi Nagar): Rs 2,400 per sq.ft (2024)
• Manickam Nagar: Rs 1,400 per sq.ft (2024)
• Manickavasagar Street (Senthil Nagar): Rs 2,700 per sq.ft (2024)

Stamp duty and registration fee for property in Mahalakshmi Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,500 per sq.ft, the total guideline value amounts to Rs 15,00,000. The stamp duty at 7% would be Rs 1,05,000, and the registration fee at 2% would be Rs 30,000, making the total cost for these fees Rs 1,35,000. 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 our stamp duty and registration fee calculator.

Which Sub Registrar Office covers Mahalakshmi Street?

The Sub Registrar Office that covers Mahalakshmi Street is the Ambattur Sub Registrar Office, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone. You can find your SRO for more details.

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

The guideline value is a critical factor during property transactions in Thirumullaivoyal. It is used to determine the stamp duty and registration fees that buyers must pay when registering their property. This value serves as a reference point for both buyers and sellers to understand the minimum value of the property being transacted.

When a property is sold, the buyer must pay the stamp duty based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Mahalakshmi Street?

The current guideline value of Mahalakshmi Street is Rs 1,500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 140 per sq.ft in 2003 to Rs 1,500 per sq.ft in 2024, reflecting an overall increase of 971% over the years.

What are the stamp duty and registration fees for properties on Mahalakshmi Street?

For a property valued at Rs 15,00,000, the stamp duty would be Rs 1,05,000 and the registration fee would be Rs 30,000, totaling Rs 1,35,000.

Which Sub Registrar Office covers Mahalakshmi Street?

The Ambattur Sub Registrar Office covers Mahalakshmi Street, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone.

What is the land classification for Mahalakshmi Street?

Mahalakshmi Street falls under the Residential Class III Type - II land classification.