Guideline Value for Mahalingam Street

Mahalingam Street guideline value

The current guideline value of Mahalingam Street in Koyakbedu village is Rs 3,300 per sq.ft, effective from 1 July 2024. This street falls under the AnnaNagar SRO and is classified as Residential Class I Type - III.

How the guideline value of Mahalingam Street has changed

Over the years, the guideline value for Mahalingam Street has seen several revisions. The guideline value was Rs 1,100 per sq.ft in 2007, which increased significantly to Rs 3,000 per sq.ft in 2012, marking a rise of 173%. However, it then decreased to Rs 2,010 per sq.ft in 2017, a drop of 33%. The value rose again to Rs 3,000 per sq.ft in 2023, followed by a further increase to Rs 3,300 per sq.ft in 2024, reflecting a 10% increase from the previous year.

In summary, from 2007 to 2024, the overall increase in guideline value is 200%. The register has no figure for Mahalingam Street for the years 2002 and 2003.

Guideline values in Koyakbedu

Koyakbedu village has a total of 270 streets under the AnnaNagar SRO, with 2024 guideline values ranging from Rs 2,200 to Rs 16,500 per sq.ft. The median guideline value for these streets is Rs 4,400 per sq.ft, placing Mahalingam Street's 2024 figure below this median.

• Maghilambu Street Brindavan Nagar: Rs 4,400 per sq.ft (2024)
• Malligai Street Brindavan Nagar: Rs 4,400 per sq.ft (2024)
• Mangammal Colony: Rs 3,300 per sq.ft (2024)
• Mannady Street: Rs 3,300 per sq.ft (2024)
• L bLOCK (WEST)-4TH AVENUE 171 TO 192,KURUNJI COLONY,MULLAI COLONY,NALANDHA FLATS,SINDU FLATS: Rs 15,900 per sq.ft (2024)
• Lalbhahadur Sastry Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Mahalingam Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value amounts to Rs 33,00,000. The stamp duty at 7% would be Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, making the total cost Rs 2,97,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Mahalingam Street?

The Mahalingam Street is covered by the AnnaNagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037 (Near By Nolambur Eb Office). You can find your SRO for more information.

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

The guideline value is essential for property transactions in Koyakbedu, as it determines the minimum value at which properties can be registered. When buying or selling property, the guideline value helps in calculating the stamp duty and registration fees that need to be paid.

It is crucial for buyers and sellers to be aware of the current guideline value to ensure compliance with legal requirements during the registration process. This value serves as a reference point for both parties involved in the transaction.

Frequently asked questions

What is the current guideline value of Mahalingam Street?

The current guideline value of Mahalingam Street is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,100 per sq.ft in 2007 to Rs 3,300 per sq.ft in 2024, reflecting an overall increase of 200% over this period.

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

Other streets in Koyakbedu include Maghilambu Street Brindavan Nagar and Malligai Street Brindavan Nagar, both at Rs 4,400 per sq.ft, and Mangammal Colony, Mannady Street, and Lalbhahadur Sastry Street, all at Rs 3,300 per sq.ft.

What is the stamp duty rate for properties in Mahalingam Street?

The stamp duty rate for properties in Mahalingam Street is 7% of the guideline value or sale price, whichever is higher.

Which office handles the registration for Mahalingam Street?

The registration for Mahalingam Street is handled by the AnnaNagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.