Guideline Value for SRI MAHALAKSHMI NAGAR EXTENSION-II

Sri Mahalakshmi Nagar Extension-II guideline value

The current guideline value of Sri Mahalakshmi Nagar Extension-II is Rs 700 per sq.ft, effective from 1 July 2024. This property is located in Keelakazhani village, under the jurisdiction of the Gooduvancheri SRO. The land classification for this area is Residential Special Type - I.

How the guideline value of Sri Mahalakshmi Nagar Extension-II has changed

The guideline value for Sri Mahalakshmi Nagar Extension-II has undergone several revisions over the years. The most recent revision in 2024 maintains the guideline value at Rs 700 per sq.ft, the same as in 2023. Prior to that, the 2017 revision set the value at Rs 469 per sq.ft, marking a significant increase of 49% when compared to the 2023 revision.

It is important to note that there are no figures available for the years 2002, 2003, 2007, and 2012 for this street. Overall, the guideline value has increased by 49% from 2017 to 2024.

Guideline values in Keelakazhani

In Keelakazhani, there are 35 streets under the Gooduvancheri SRO that carry a 2024 guideline value ranging from Rs 500 to Rs 1,000 per sq.ft, with the median value being Rs 700 per sq.ft. The guideline value for Sri Mahalakshmi Nagar Extension-II aligns with this median.

• Sri Mahalakshmi Nagar Extn I: Rs 700 per sq.ft (2024)
• Sri Mahalakshmi Nagar: Rs 700 per sq.ft (2024)
• Sri Meenakshi Nagar: Rs 700 per sq.ft (2024)
• Sri Lakshmi Hayagerivar Nagar: Rs 700 per sq.ft (2024)
• Sri Paramaswamy Nagar: Rs 800 per sq.ft (2024)
• Sri Parvathi Amman Nagar: Rs 600 per sq.ft (2024)

Stamp duty and registration fee for property in Sri Mahalakshmi Nagar Extension-II

For a 1,000 sq.ft plot at the current guideline value of Rs 700 per sq.ft, the total guideline value amounts to Rs 7,00,000. The stamp duty at 7% would be Rs 49,000, and the registration fee at 2% would be Rs 14,000, bringing the total to Rs 63,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Sri Mahalakshmi Nagar Extension-II?

The Sri Mahalakshmi Nagar Extension-II falls under the Gooduvancheri Sub Registrar Office located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvanchery-603202, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor when registering property transactions in Keelakazhani. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring that the government receives appropriate revenue from stamp duties and registration fees.

When buying or selling property, the guideline value helps both buyers and sellers understand the official valuation of the property. This value is used to calculate the stamp duty and registration fees, which are necessary for completing the transaction legally.

Frequently asked questions

What is the current guideline value of Sri Mahalakshmi Nagar Extension-II?

The current guideline value of Sri Mahalakshmi Nagar Extension-II is Rs 700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has remained the same at Rs 700 per sq.ft from 2023 to 2024. It increased from Rs 469 per sq.ft in 2017 to Rs 700 per sq.ft in 2023, marking a 49% increase.

What are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 7,00,000, the stamp duty would be Rs 49,000 and the registration fee would be Rs 14,000, totaling Rs 63,000. These fees are based on the guideline value or the sale price, whichever is higher.

Which office handles property registrations for Sri Mahalakshmi Nagar Extension-II?

The Gooduvancheri Sub Registrar Office handles property registrations for Sri Mahalakshmi Nagar Extension-II. It is located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvanchery-603202, Chengalpattu registration zone.

Are there other streets in Keelakazhani with similar guideline values?

Yes, there are several other streets in Keelakazhani with the same guideline value of Rs 700 per sq.ft for 2024, including Sri Mahalakshmi Nagar Extn I, Sri Mahalakshmi Nagar, Sri Meenakshi Nagar, and Sri Lakshmi Hayagerivar Nagar.