Guideline Value for SRI MAHALASHMI NAGAR

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_B village, under the Thiruvottiyur SRO, and falls under the Residential Class I Type - I land classification.

How the guideline value of Sri Mahalashmi Nagar has changed

The guideline value for Sri Mahalashmi Nagar has seen several revisions over the years. The 2017 revision set the value at Rs 295 per sq.ft, which increased to Rs 441 per sq.ft in the 2023 revision. The most recent revision in 2024 has raised the value to Rs 485 per sq.ft, marking a significant increase of 64% from the 2017 figure.

From 2023 to 2024, the guideline value increased by 10%. The register does not have figures for the years 2002, 2003, 2007, and 2012 for this street.

Guideline values in Vichoor_B

In Vichoor_B village, there are 45 streets under the Thiruvottiyur SRO that have a 2024 guideline value ranging from Rs 330 to Rs 550 per sq.ft. The median value is Rs 485 per sq.ft, which is the same as the current value for Sri Mahalashmi Nagar.

• Sri Mugambigai Nagar: Rs 485 per sq.ft (2024)
• Srinivasa Nagar: Rs 485 per sq.ft (2024)
• Sri Devi Nagar: Rs 485 per sq.ft (2024)
• Sri Ram Ganapathi Nagar: Rs 485 per sq.ft (2024)
• Sri Ram Nagar: Rs 485 per sq.ft (2024)
• Sri Ramnagar Extn: Rs 485 per sq.ft (2024)

Stamp duty and registration fee for property in Sri Mahalashmi Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 485 per sq.ft, the total 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, totaling Rs 43,650. Duty is charged on the higher of the guideline value or the sale price. You can also use our stamp duty and registration fee calculator for more information.

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. You can find your SRO for more details.

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

The guideline value is an essential factor when registering property transactions in Vichoor_B. It determines the amount of stamp duty and registration fees that need to be paid, which are calculated based on the guideline value or the sale price, whichever is higher.

When buying or selling property, ensuring that the transaction adheres to the current guideline value is crucial for a smooth registration process. This value serves as a reference point for both buyers and sellers during negotiations and official documentation.

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 much has the guideline value changed over the years?

The guideline value has increased from Rs 295 per sq.ft in 2017 to Rs 485 per sq.ft in 2024, marking a total increase of 64% over this period.

What is the registration office for Sri Mahalashmi Nagar?

The registration office for Sri Mahalashmi Nagar is the Thiruvottiyur Sub Registrar Office, located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019.

Are there any other streets with the same guideline value in Vichoor_B?

Yes, several other streets in Vichoor_B have the same guideline value of Rs 485 per sq.ft in 2024, including Sri Mugambigai Nagar, Srinivasa Nagar, and Sri Ram Ganapathi Nagar, among others.

How are stamp duty and registration fees calculated?

Stamp duty is charged at 7% of the guideline value or the sale price, whichever is higher, while the registration fee is charged at 2%. For example, a 1,000 sq.ft plot at the current rate would incur a total fee of Rs 43,650.