Guideline Value for SRI MAHALAKSHMI NAGAR

Sri Mahalakshmi Nagar guideline value

The current guideline value of Sri Mahalakshmi Nagar, located in Pandeswaram village under the Avadi SRO, is Rs 165 per sq.ft as per the 2024 revision effective from 1 July 2024. This area falls under the Residential Class I Type - I land classification.

How the guideline value of Sri Mahalakshmi Nagar has changed

The guideline value for Sri Mahalakshmi Nagar has undergone several revisions over the years. The register has no figures for the years 2002, 2003, 2007, 2012, and 2017. In the 2023 revision, the guideline value was set at Rs 150 per sq.ft, which increased to Rs 165 per sq.ft in the 2024 revision, marking a change of +10%.

With the latest revision in 2024, the current guideline value stands at Rs 165 per sq.ft. The previous revision in 2023 had a guideline value of Rs 150 per sq.ft. This reflects the changes made in the valuation of properties in the area over the past year.

Guideline values in Pandeswaram

In Pandeswaram, there are 7 streets under the Avadi SRO that carry a 2024 guideline value ranging from Rs 165 to Rs 1,150 per sq.ft. The median value is Rs 165 per sq.ft, making Sri Mahalakshmi Nagar's 2024 figure equal to that median.

• Srinivasa Nagar: Rs 1,150 per sq.ft (2024)
• Sri Bhavani Amman Nagar: Rs 165 per sq.ft (2024)
• Sri Balaji Nagar: Rs 330 per sq.ft (2024)
• Sri Sudharsan Nagar: Rs 165 per sq.ft (2024)
• Gurumahan Nagar: Rs 165 per sq.ft (2024)
• Birla Nagar: Rs 165 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 165 per sq.ft, the total guideline value would be Rs 1,65,000. The stamp duty at 7% would amount to Rs 11,550, and the registration fee at 2% would be Rs 3,300, bringing the total to Rs 14,850. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Sri Mahalakshmi Nagar?

The Sub Registrar Office that covers Sri Mahalakshmi Nagar is the Avadi Sub Registrar Office, located at Plot No.145, Vii Street, Modern City, Thandurai Village, Avadi Taluk, Tiruvallur District, Chennai registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process of property transactions in Pandeswaram. It is used to determine the applicable stamp duty and registration fees, ensuring that these costs are calculated based on the official valuation of the property.

When buying or selling property, the guideline value serves as a benchmark for the minimum price at which a property can be registered. This helps maintain transparency and consistency in the real estate market within the region.

Frequently asked questions

What is the current guideline value for Sri Mahalakshmi Nagar?

The current guideline value for Sri Mahalakshmi Nagar is Rs 165 per sq.ft as per the 2024 revision effective from 1 July 2024.

How much has the guideline value changed recently?

The guideline value changed from Rs 150 per sq.ft in 2023 to Rs 165 per sq.ft in 2024, representing a +10% increase.

What are the other streets in Pandeswaram with their guideline values?

Other streets in Pandeswaram include Srinivasa Nagar at Rs 1,150 per sq.ft, Sri Bhavani Amman Nagar, Sri Sudharsan Nagar, Gurumahan Nagar, and Birla Nagar at Rs 165 per sq.ft, and Sri Balaji Nagar at Rs 330 per sq.ft.

Where is the Sub Registrar Office for Sri Mahalakshmi Nagar located?

The Avadi Sub Registrar Office is located at Plot No.145, Vii Street, Modern City, Thandurai Village, Avadi Taluk, Tiruvallur District, Chennai registration zone.

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

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at the current guideline value incurs a stamp duty of Rs 11,550.