Guideline Value for Mahalalakshmi Street(banu nagar west)

Mahalalakshmi Street(banu nagar west) guideline value

The current guideline value of Mahalalakshmi Street(banu nagar west) is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Oragadam village under the Ambattur SRO, with a land classification of Residential Special Type - II.

How the guideline value of Mahalalakshmi Street(banu nagar west) has changed

The guideline value for Mahalalakshmi Street(banu nagar west) has undergone several revisions since 2007. The 2007 revision set the value at Rs 605 per sq.ft, which increased significantly to Rs 2,000 per sq.ft in the 2012 revision. However, there was a decrease to Rs 1,340 per sq.ft in 2017. The value then rose to Rs 2,000 per sq.ft in 2023, before reaching the current figure of Rs 2,200 per sq.ft in 2024.

From 2017 to 2023, the guideline value increased by 49%. The jump from 2012 to 2017 saw a decrease of 33%, while the increase from 2007 to 2012 was substantial at 231%. Overall, from 2007 to 2024, the guideline value has risen by 264%. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Oragadam

In Oragadam, there are 596 streets under the Ambattur SRO with a 2024 guideline value ranging from Rs 1,100 to Rs 3,500 per sq.ft. The median value is Rs 2,200 per sq.ft, which is equal to the current guideline value of Mahalalakshmi Street(banu nagar west).

• Mahalakshmi Street: Rs 2,200 per sq.ft (2024)
• Maharaja Avenue (V.L.Puram): Rs 2,400 per sq.ft (2024)
• Mahesh Street: Rs 1,600 per sq.ft (2024)
• Madurai veeran Street: Rs 1,800 per sq.ft (2024)
• Mani Cross Street: Rs 2,400 per sq.ft (2024)
• Manimekalai Street: Rs 1,600 per sq.ft (2024)

Stamp duty and registration fee for property in Mahalalakshmi Street(banu nagar west)

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value amounts to Rs 22,00,000. The stamp duty at 7% would be Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, bringing the total cost of duty and fees to Rs 1,98,000. 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 the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Mahalalakshmi Street(banu nagar west)?

The Sub Registrar Office that covers Mahalalakshmi Street(banu nagar west) 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 Oragadam

The guideline value plays a crucial role in the registration process when buying or selling property in Oragadam. It serves as a benchmark for determining the stamp duty and registration fees, ensuring that both buyers and sellers are aware of the official valuation of the property.

When a property is registered, the authorities will assess the guideline value to calculate the applicable duties and fees. This ensures transparency in property transactions and helps maintain a standard valuation across the region.

Frequently asked questions

What is the current guideline value of Mahalalakshmi Street(banu nagar west)?

The current guideline value of Mahalalakshmi Street(banu nagar west) is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 605 per sq.ft in 2007 to Rs 2,200 per sq.ft in 2024, showing an overall increase of 264% over the years.

What are the stamp duty and registration fees for properties on this street?

For a property valued at Rs 22,00,000, the stamp duty would be Rs 1,54,000 and the registration fee would be Rs 44,000, totaling Rs 1,98,000.

Which Sub Registrar Office covers Mahalalakshmi Street(banu nagar west)?

The Ambattur Sub Registrar Office covers Mahalalakshmi Street(banu nagar west), located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone.

What is the land classification for Mahalalakshmi Street(banu nagar west)?

The land classification for Mahalalakshmi Street(banu nagar west) is Residential Special Type - II.