Guideline Value

Corporate

Guideline Value for SRI MAHALASHMI NAGAR

₹485/sq.ft.

The guideline value for Sri Mahalashmi Nagar in Vichoor village (Thiruvottiyur SRO, Chennai zone) is Rs 485 per sq.ft, effective 1 July 2024. It was Rs 441 per sq.ft from 1 April 2023, a 10% change. The land classification is Residential Class I Type - I. Source: TNReginet guideline value register.

Last updated:

Chennai

Zone

Vichoor

Village

Thiruvottiyur

SRO

Residential Class I Type - I
History
Period Guideline Value
From 1-7-2024 ₹485 /sq.ft.
From 1-4-2023 ₹441 /sq.ft.
From 9-6-2017 To 31-3-2023 ₹295 /sq.ft.
From 1-4-2012 To 8-6-2017 ₹440 /sq.ft.
From 1-8-2007 To 31-3-2012 ₹100 /sq.ft.
From 1-4-2003 To 31-7-2007 N/A
From 1-4-2002 To 31-3-2003 N/A
Guideline Value Timeline
Guideline Value Comparison

SRO (Sub Registrar Office)

21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019
044-25992232
[email protected]

DRO (District Registrar Office)

Nsc Bose Road, Kuralagam First Floor, Esplaned Street, Chennai-108
044-25266212
[email protected], [email protected]

DIG (Deputy Inspector General)

Integrated Building For Offices Of The Commercial Taxes And Registration, Department Fanepet, Nandanam, Chennai - 600 035.
044-29510527
[email protected]
Records for a plot on Sri Mahalashmi Nagar

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Sri Mahalashmi Nagar guideline value

The current guideline value of Sri Mahalashmi Nagar is Rs 485 per sq.ft, effective from 1 July 2024. This area is located in Vichoor village under the Thiruvottiyur SRO, classified as Residential Class I Type - I.

How the guideline value of Sri Mahalashmi Nagar has changed

The guideline value for Sri Mahalashmi Nagar has undergone several revisions over the years. Starting from Rs 100 per sq.ft in 2007, it increased significantly to Rs 440 per sq.ft in 2012. However, it then decreased to Rs 295 per sq.ft in 2017. The latest revisions show a notable increase, with the value rising to Rs 441 per sq.ft in 2023 and further to Rs 485 per sq.ft in 2024, marking a 10% increase from the previous year.

Between the years, the changes reflect a substantial overall increase of 385% from the 2007 revision to the 2024 revision. Notably, there are no figures available for the years 2002 and 2003 in the register for this street.

Guideline values in Vichoor

In Vichoor village, there are 45 streets under the Thiruvottiyur SRO that carry a 2024 guideline value ranging from Rs 330 to Rs 550 per sq.ft, with the median being Rs 485 per sq.ft. The guideline value for Sri Mahalashmi Nagar is equal to this median.

Stamp duty and registration fee for property in Sri Mahalashmi Nagar

For a 1,000 sq.ft plot at the current rate, the guideline value amounts to Rs 4,85,000. The stamp duty at 7% would be Rs 33,950, and the registration fee at 2% would be Rs 9,700, bringing the total to Rs 43,650. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator for more precise calculations.

Which Sub Registrar Office covers Sri Mahalashmi Nagar?

The Sub Registrar Office that covers Sri Mahalashmi Nagar is the Thiruvottiyur Sub Registrar Office, located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019. For more information, you can find your SRO.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Vichoor. It determines the stamp duty and registration fees that must be paid at the time of registration.

Understanding the guideline value helps buyers and sellers ensure compliance with legal requirements and provides clarity on the financial obligations involved in property transactions.

Frequently asked questions

What is the current guideline value of Sri Mahalashmi Nagar?

The current guideline value of Sri Mahalashmi Nagar is Rs 485 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 100 per sq.ft in 2007 to Rs 485 per sq.ft in 2024, reflecting an overall increase of 385% over the years.

What is the stamp duty rate for properties in Sri Mahalashmi Nagar?

The stamp duty rate for properties in Sri Mahalashmi Nagar is 7% of the guideline value or the sale price, whichever is higher.

Where is the Thiruvottiyur Sub Registrar Office located?

The Thiruvottiyur Sub Registrar Office is located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019.

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

Other streets in Vichoor with a guideline value of Rs 485 per sq.ft include Sri Mugambigai Nagar, Srinivasa Nagar, Sri Devi Nagar, Sri Ram Ganapathi Nagar, Sri Ram Nagar, and Sri Ramnagar Extn.