Guideline Value for SREE MAHALAKSHMI NAGAR PHASE - I

Sree Mahalakshmi Nagar Phase - I guideline value

The current guideline value of Sree Mahalakshmi Nagar Phase - I is Rs 600 per sq.ft. This area is located in Kandular village under the Chengleput Joint II SRO, classified as Residential Special Type - I.

How the guideline value of Sree Mahalakshmi Nagar Phase - I has changed

The guideline value for Sree Mahalakshmi Nagar Phase - I has remained consistent at Rs 600 per sq.ft since the 2023 revision. Prior to that, there are no figures available for the revisions from 2017, 2012, 2007, 2003, and 2002 for this street.

In the 2024 revision, effective from 1 July 2024, the guideline value remains unchanged at Rs 600 per sq.ft, reflecting a 0% change from the previous year. The 2023 revision also recorded the same figure of Rs 600 per sq.ft.

Guideline values in Kandular

In Kandular village, there are 20 streets under the Chengleput Joint II SRO that carry a 2024 guideline value ranging from Rs 600 to Rs 650 per sq.ft, with a median value of Rs 600 per sq.ft. Sree Mahalakshmi Nagar Phase - I aligns with this median value.

• Sree Mahalakshmi Nagar Phase-II&iii: Rs 600 per sq.ft (2024)
• Sree Mahalakshmi Nagar Phase - IV: Rs 600 per sq.ft (2024)
• Sree Mahalakshmi Nagar Phase - V: Rs 600 per sq.ft (2024)
• Sree Mahalakshmi Nagar Phase - VI: Rs 600 per sq.ft (2024)
• Sree Mahalakshmi Nagar Phase - VII: Rs 600 per sq.ft (2024)
• Sri Mahalakshmi Nagar: Rs 600 per sq.ft (2024)

Stamp duty and registration fee for property in Sree Mahalakshmi Nagar Phase - I

For a 1,000 sq.ft plot at the current guideline value of Rs 600 per sq.ft, the total guideline value amounts to Rs 6,00,000. The stamp duty at 7% would be Rs 42,000, and the registration fee at 2% would be Rs 12,000, bringing the total to Rs 54,000. Please note that duty is charged on the higher of the guideline value or the sale price.

For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Sree Mahalakshmi Nagar Phase - I?

The Sree Mahalakshmi Nagar Phase - I is covered by the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is an essential factor in property transactions in Kandular, as it determines the minimum value at which a property can be registered. When buying or selling property, the guideline value is used to calculate stamp duty and registration fees, ensuring that all transactions comply with local regulations.

Buyers and sellers should be aware that the guideline value may differ from the actual sale price. However, the registration fees and stamp duty will be based on the higher of the two values, ensuring that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Sree Mahalakshmi Nagar Phase - I?

The current guideline value of Sree Mahalakshmi Nagar Phase - I is Rs 600 per sq.ft, effective from the 2024 revision.

How has the guideline value changed over the years?

The guideline value has remained at Rs 600 per sq.ft since the 2023 revision. There are no figures available for the revisions from 2017, 2012, 2007, 2003, and 2002 for this street.

What are the stamp duty and registration fees for property transactions?

For a property valued at Rs 6,00,000, the stamp duty is Rs 42,000, and the registration fee is Rs 12,000, totaling Rs 54,000. This is based on the current guideline value of Rs 600 per sq.ft.

Which office handles the registration for Sree Mahalakshmi Nagar Phase - I?

The Chengleput Joint II Sub Registrar Office handles the registration for Sree Mahalakshmi Nagar Phase - I, located at 10, Kancheepuram Main Road, Chengalpattu 603 002.

How is the guideline value used in property transactions?

The guideline value is used to calculate the minimum registration value for properties and determines the stamp duty and registration fees. It ensures that all property transactions comply with local regulations.