Guideline Value for Mahalingam Street (Bhavani nagar)

Mahalingam Street (Bhavani nagar) guideline value

The current guideline value of Mahalingam Street (Bhavani nagar) is Rs 1,600 per sq.ft, effective from 1 July 2024. This street is located in Ayappakkam village and falls under the Ambattur SRO. The land classification for this area is Residential Special Type - III.

How the guideline value of Mahalingam Street (Bhavani nagar) has changed

Over the years, the guideline value of Mahalingam Street has seen significant changes. In 2007, the guideline value was Rs 200 per sq.ft, which increased dramatically to Rs 1,500 per sq.ft in 2012, marking a rise of 650%. However, it then decreased to Rs 1,005 per sq.ft in 2017, a drop of 33%. The value further increased to Rs 1,500 per sq.ft in 2023, and as of the 2024 revision, it stands at Rs 1,600 per sq.ft, reflecting a 7% increase from the previous year.

The overall change from 2007 to 2024 is a substantial increase of 700%. It is important to note that there are no figures available for the revisions in 2002 and 2003 for this street.

Guideline values in Ayappakkam

Ayappakkam village has 221 streets under the Ambattur SRO, with guideline values ranging from Rs 550 to Rs 4,000 per sq.ft. The median guideline value in this area is Rs 1,300 per sq.ft, which means Mahalingam Street's current value of Rs 1,600 per sq.ft is above the median.

• Mahalakshmi street(Bhavani nagar): Rs 1,600 per sq.ft (2024)
• Lotus Avenue Phase -II: Rs 3,300 per sq.ft (2024)
• Lotus Avenue: Rs 1,700 per sq.ft (2024)
• Mannady Lane: Rs 880 per sq.ft (2024)
• Mannady Street: Rs 880 per sq.ft (2024)
• Maruthiram Nagar: Rs 1,100 per sq.ft (2024)

Stamp duty and registration fee for property in Mahalingam Street (Bhavani nagar)

For a 1,000 sq.ft plot at the current guideline value of Rs 1,600 per sq.ft, the total guideline value would be Rs 16,00,000. The stamp duty at 7% would be Rs 1,12,000, and the registration fee at 2% would be Rs 32,000, bringing the total cost for these fees to Rs 1,44,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can also use our stamp duty and registration fee calculator for more accurate calculations.

Which Sub Registrar Office covers Mahalingam Street (Bhavani nagar)?

The Sub Registrar Office that covers Mahalingam Street (Bhavani nagar) 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 information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Ayappakkam. 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 buyer must pay the stamp duty based on the higher value between the guideline value and the actual sale price. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Mahalingam Street?

The current guideline value of Mahalingam Street (Bhavani nagar) is Rs 1,600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 200 per sq.ft in 2007 to Rs 1,600 per sq.ft in 2024, reflecting an overall increase of 700% over the years.

What is the median guideline value in Ayappakkam?

The median guideline value in Ayappakkam is Rs 1,300 per sq.ft, with Mahalingam Street's value being above this median at Rs 1,600 per sq.ft.

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

For a 1,000 sq.ft plot at the current guideline value, the total stamp duty would be Rs 1,12,000 and the registration fee would be Rs 32,000, totaling Rs 1,44,000.

Which office handles the registration for Mahalingam Street?

The Ambattur Sub Registrar Office handles the registration for Mahalingam Street (Bhavani nagar), located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur- 600 053, Chennai registration zone.