Guideline Value for SAI MAHALAKSHMI NAGAR

Sai Mahalakshmi Nagar guideline value

The current guideline value of Sai Mahalakshmi Nagar is Rs 1,350 per sq.ft, effective from 1 July 2024. This locality is situated in Kolumanivakkam village and falls under the Kunrathur SRO. The land classification for this area is Mixed Special Type - I.

How the guideline value of Sai Mahalakshmi Nagar has changed

In the 2017 revision, the guideline value was set at Rs 804 per sq.ft. This increased to Rs 1,200 per sq.ft in the 2023 revision, marking a significant rise of 49%. The latest revision in 2024 has further increased the value to Rs 1,350 per sq.ft, which is a 13% increase from the previous year.

Overall, from the 2017 revision to the 2024 revision, the guideline value has risen by 68%. It is important to note that there are no figures available for the years 2002, 2003, 2007, and 2012 for this street in the register.

Guideline values in Kolumanivakkam

In Kolumanivakkam, there are 47 streets under the Kunrathur SRO that have a 2024 guideline value ranging from Rs 880 to Rs 3,290 per sq.ft. The median value for these streets is Rs 1,350 per sq.ft, which is the same as the guideline value for Sai Mahalakshmi Nagar.

• Sai Nagammal Avenue: Rs 2,200 per sq.ft (2024)
• Sai Vallalar Sivasankaran Nagar: Rs 1,650 per sq.ft (2024)
• Sathya Nagar: Rs 1,350 per sq.ft (2024)
• Ramadoss Nagar: Rs 880 per sq.ft (2024)
• Selvam Avenue: Rs 2,200 per sq.ft (2024)
• Rajiv Nagar: Rs 880 per sq.ft (2024)

Stamp duty and registration fee for property in Sai Mahalakshmi Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,350 per sq.ft, the total guideline value amounts to Rs 13,50,000. The stamp duty at 7% would be Rs 94,500, and the registration fee at 2% would be Rs 27,000, bringing the total fees together to Rs 1,21,500. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Sai Mahalakshmi Nagar?

The Sub Registrar Office that covers Sai Mahalakshmi Nagar is the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Kolumanivakkam. It determines the minimum value at which the property can be registered, ensuring that the transaction is documented at a fair value.

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

Frequently asked questions

What is the current guideline value of Sai Mahalakshmi Nagar?

The current guideline value of Sai Mahalakshmi Nagar is Rs 1,350 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed since 2017?

Since 2017, the guideline value has increased from Rs 804 per sq.ft to Rs 1,350 per sq.ft, which is an overall increase of 68% by 2024.

What are the stamp duty rates for properties in Sai Mahalakshmi Nagar?

The stamp duty for properties in Sai Mahalakshmi Nagar is charged at 7% of the guideline value or the sale price, whichever is higher.

Where is the Kunrathur Sub Registrar Office located?

The Kunrathur Sub Registrar Office is located at No.59, Road Street, Kundrathur, Chennai -600 069.

Are there other streets in Kolumanivakkam with different guideline values?

Yes, there are several other streets in Kolumanivakkam with varying guideline values, ranging from Rs 880 to Rs 3,290 per sq.ft as per the 2024 revision.