Guideline Value for SREE MAHALAKSHMI NAGAR PHASE-II&III

Sree Mahalakshmi Nagar Phase-II&iii guideline value

The current guideline value for Sree Mahalakshmi Nagar Phase-II&iii is Rs 600 per sq.ft, effective from 1 July 2024. This area is located in Kandular village and falls under the Chengleput Joint II SRO. The land classification for this area is Residential Special Type - I.

How the guideline value of Sree Mahalakshmi Nagar Phase-II&iii has changed

Over the years, the guideline value for Sree Mahalakshmi Nagar Phase-II&iii has seen several revisions. The 2012 revision set the value at Rs 600 per sq.ft, which remained unchanged in the 2017 revision where it decreased to Rs 402 per sq.ft. However, from 2017 to 2023, the value increased by 49% back to Rs 600 per sq.ft, and it has remained at this figure in the 2024 revision, showing no change from the previous year.

Notably, there are no figures available for the years 2002, 2003, and 2007 in the register for this street. Overall, from 2012 to 2024, the guideline value has shown no overall change, remaining consistent at 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 the median value being Rs 600 per sq.ft. The guideline value for Sree Mahalakshmi Nagar Phase-II&iii is equal to this median.

• Sree Mahalakshmi Nagar Phase - I: 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-II&iii

For a 1,000 sq.ft plot at the current rate of Rs 600 per sq.ft, the 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 fees to Rs 54,000. It is important to note that duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Sree Mahalakshmi Nagar Phase-II&iii?

The Chengleput Joint II Sub Registrar Office covers Sree Mahalakshmi Nagar Phase-II&iii. The office is located at 10, Kancheepuram Main Road, Chengalpattu 603 002, 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 a crucial factor during the registration of property transactions in Kandular. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring transparency in property dealings.

When buying or selling property, the guideline value will influence the stamp duty and registration fees. These costs are calculated based on the guideline value or the sale price, whichever is higher, providing a clear framework for property transactions.

Frequently asked questions

What is the current guideline value for Sree Mahalakshmi Nagar Phase-II&iii?

The current guideline value for Sree Mahalakshmi Nagar Phase-II&iii is Rs 600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has remained at Rs 600 per sq.ft from 2012 to 2024, with a notable increase from Rs 402 per sq.ft in 2017 to Rs 600 per sq.ft in 2023.

What are the other streets in Kandular with the same guideline value?

Other streets in Kandular, such as Sree Mahalakshmi Nagar Phase - I, Phase - IV, Phase - V, Phase - VI, Phase - VII, and Sri Mahalakshmi Nagar, also have a guideline value of Rs 600 per sq.ft for 2024.

What fees are associated with property transactions in Sree Mahalakshmi Nagar Phase-II&iii?

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. These fees are based on the guideline value or the sale price, whichever is higher.

Where can I find the Sub Registrar Office for Sree Mahalakshmi Nagar Phase-II&iii?

The Chengleput Joint II Sub Registrar Office is located at 10, Kancheepuram Main Road, Chengalpattu 603 002. You can find more details by visiting the provided link.