Guideline Value for SRI MAHALAKSHMI NAGAR

Sri Mahalakshmi Nagar guideline value

The current guideline value of Sri Mahalakshmi Nagar, located in Siyamangalam village under the Walajabad SRO, is Rs 371 per sq.ft, effective from 1 July 2024. This area is classified as Residential Special Type - II.

How the guideline value of Sri Mahalakshmi Nagar has changed

The guideline value for Sri Mahalakshmi Nagar has seen several revisions over the years. In 2012, the value was Rs 250 per sq.ft, which increased to Rs 301 per sq.ft in 2017, marking a 20% rise. The value remained at Rs 371 per sq.ft during the 2023 revision and continues to hold the same figure in the 2024 revision, indicating no change from the previous year.

From 2017 to 2023, the guideline value increased by 23%. Overall, from 2012 to 2024, the guideline value has risen by 48%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Siyamangalam

Siyamangalam village has 12 streets under the Walajabad SRO that carry a 2024 guideline value, ranging from Rs 250 to Rs 371 per sq.ft. The median guideline value in the village is Rs 300 per sq.ft, placing Sri Mahalakshmi Nagar's 2024 figure above this median.

• Sri Lakshmi Avenue: Rs 300 per sq.ft (2024)
• Sri Ramajayam Nagar: Rs 371 per sq.ft (2024)
• Sri Ganesa Nagar: Rs 371 per sq.ft (2024)
• Sri Ganapathy Nagar: Rs 250 per sq.ft (2024)
• Sri Samy Nagar: Rs 300 per sq.ft (2024)
• Sri Annamalaiyar Nagar: Rs 300 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 guideline value of Rs 371 per sq.ft, the total guideline value amounts to Rs 3,71,000. The stamp duty at 7% would be Rs 25,970, and the registration fee at 2% would be Rs 7,420, resulting in a total of Rs 33,390. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Sri Mahalakshmi Nagar?

The Sri Mahalakshmi Nagar area is covered by the Walajabad Sub Registrar Office, located at Sriperumbudur Road, Walajabad-631 605, Chengalpattu registration zone. You can find your SRO for further assistance.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Siyamangalam. It serves as a benchmark for determining the stamp duty and registration fees applicable on the transaction.

When a property is registered, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Sri Mahalakshmi Nagar?

The current guideline value of Sri Mahalakshmi Nagar is Rs 371 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 250 per sq.ft in 2012 to Rs 371 per sq.ft in 2024, representing an overall increase of 48% over this period.

What is the land classification of Sri Mahalakshmi Nagar?

Sri Mahalakshmi Nagar is classified as Residential Special Type - II, indicating its intended use for residential purposes.

Where can I find the Walajabad Sub Registrar Office?

The Walajabad Sub Registrar Office is located at Sriperumbudur Road, Walajabad-631 605, Chengalpattu registration zone.

How is stamp duty calculated for properties in Sri Mahalakshmi Nagar?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, a property valued at Rs 3,71,000 would incur a stamp duty of Rs 25,970 at 7%.