Guideline Value for SRI MAHALAKSHMI NAGAR

Sri Mahalakshmi Nagar guideline value

The current guideline value of Sri Mahalakshmi Nagar is Rs 403 per sq.ft. This area is located in Nayakkankuppam village, under the Walajabad Sub Registrar Office (SRO). The land classification for this street is Residential Class II Type - III.

How the guideline value of Sri Mahalakshmi Nagar has changed

In the 2017 revision, the guideline value was set at Rs 270 per sq.ft. This figure remained unchanged until the 2023 revision, where it was still Rs 403 per sq.ft. The latest revision in 2024 also maintains the guideline value at Rs 403 per sq.ft, indicating a 0% change from the previous year. Notably, the increase from 2017 to 2023 was 49%, leading to an overall increase of 49% from 2017 to 2024.

The register has no figures for the years 2002, 2003, 2007, and 2012 for this street. Therefore, the only revisions available are from 2017, 2023, and 2024.

Guideline values in Nayakkankuppam

In Nayakkankuppam, there are 23 streets under the Walajabad SRO that carry a 2024 guideline value ranging from Rs 150 to Rs 403 per sq.ft. The median guideline value for these streets is Rs 200 per sq.ft, placing Sri Mahalakshmi Nagar's 2024 figure above that median.

• Sri Ragavendira Nagar: Rs 250 per sq.ft (2024)
• Sri Babuji Nagar: Rs 200 per sq.ft (2024)
• Sri Sai Township: Rs 150 per sq.ft (2024)
• Sri Sakthi Nagar: Rs 200 per sq.ft (2024)
• Sree Sastha Avenue: Rs 150 per sq.ft (2024)
• Sri Vetrivel Nagar: Rs 200 per sq.ft (2024)

Stamp duty and registration fee for property in Sri Mahalakshmi Nagar

For a 1,000 sq.ft plot at the current rate of Rs 403 per sq.ft, the guideline value amounts to Rs 4,03,000. The stamp duty at 7% would be Rs 28,210, and the registration fee at 2% would be Rs 8,060, bringing the total to Rs 36,270. It is important to note that the 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 Sri Mahalakshmi Nagar?

Sri Mahalakshmi Nagar falls under the Walajabad Sub Registrar Office, located at Sriperumbudur Road, Walajabad-631 605, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor when registering property transactions in Nayakkankuppam. It serves as the basis for calculating stamp duty and registration fees, ensuring that the government receives the appropriate revenue from property transactions.

When a buyer or seller engages in a property transaction, the guideline value will often determine the minimum price at which the property can be registered. This ensures transparency and fairness in property dealings within the region.

Frequently asked questions

What is the current guideline value of Sri Mahalakshmi Nagar?

The current guideline value of Sri Mahalakshmi Nagar is Rs 403 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has remained at Rs 403 per sq.ft from 2023 to 2024. However, it increased by 49% from Rs 270 per sq.ft in 2017 to Rs 403 per sq.ft in 2023.

What is the land classification for Sri Mahalakshmi Nagar?

Sri Mahalakshmi Nagar is classified as Residential Class II Type - III, indicating its suitability for residential development.

What are the stamp duty and registration fees for property in Sri Mahalakshmi Nagar?

For a property valued at Rs 4,03,000, the stamp duty would be Rs 28,210, and the registration fee would be Rs 8,060, totaling Rs 36,270.

Which office handles registrations for Sri Mahalakshmi Nagar?

The Walajabad Sub Registrar Office handles registrations for Sri Mahalakshmi Nagar, located at Sriperumbudur Road, Walajabad-631 605, Chengalpattu registration zone.