Guideline Value for Sri Mahalakshmi Nagar Extn 14th Cross St

Sri Mahalakshmi Nagar Extn 14th Cross St guideline value

The current guideline value for Sri Mahalakshmi Nagar Extn 14th Cross St is Rs 1,500 per sq.ft, effective from 1 July 2024. This street is located in Nandhivaram village, under the Gooduvancheri SRO, and is classified as Residential Special Type - I.

How the guideline value of Sri Mahalakshmi Nagar Extn 14th Cross St has changed

Over the years, the guideline value of Sri Mahalakshmi Nagar Extn 14th Cross St has seen several revisions. The 2007 revision set the value at Rs 667 per sq.ft, which increased to Rs 1,500 per sq.ft in 2012. However, the value dropped to Rs 1,005 per sq.ft in 2017, before stabilizing at Rs 1,500 per sq.ft in both the 2023 and 2024 revisions, showing no change from 2023 to 2024.

From 2017 to 2023, the guideline value increased by 49%. The significant increase from 2007 to 2012 was 125%, but the value then decreased by 33% from 2012 to 2017. Overall, from 2007 to 2024, the guideline value has risen by 125%. The register has no figure for this street for the years 2002 and 2003.

Guideline values in Nandhivaram

In Nandhivaram, there are 169 streets under the Gooduvancheri SRO that carry a 2024 guideline value ranging from Rs 1,000 to Rs 3,500 per sq.ft, with a median value of Rs 1,500 per sq.ft. The guideline value for Sri Mahalakshmi Nagar Extn 14th Cross St is equal to this median.

• Sri Mahalakshmi Nagar 13th Cross St: Rs 1,500 per sq.ft (2024)
• Sri Meenakshi Avenue: Rs 1,000 per sq.ft (2024)
• Sri Murugan Nagar: Rs 1,000 per sq.ft (2024)
• Sri Ragavendra Colony: Rs 1,000 per sq.ft (2024)
• Sriram Nagar: Rs 1,500 per sq.ft (2024)
• Sri Dhulasi Nagar: Rs 1,500 per sq.ft (2024)

Stamp duty and registration fee for property in Sri Mahalakshmi Nagar Extn 14th Cross St

For a 1,000 sq.ft plot at the current guideline value of Rs 1,500 per sq.ft, the total guideline value would be Rs 15,00,000. The stamp duty at 7% would be Rs 1,05,000, and the registration fee at 2% would be Rs 30,000, making the total cost Rs 1,35,000. 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 further calculations.

Which Sub Registrar Office covers Sri Mahalakshmi Nagar Extn 14th Cross St?

The Sri Mahalakshmi Nagar Extn 14th Cross St is covered by the Gooduvancheri Sub Registrar Office, located at Defence Colony Road, near Veterinary Hospital, Nandhivaram, Guduvancheri-603202, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Nandhivaram. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that transactions are conducted fairly and transparently.

When registering a property, the guideline value is used to calculate the stamp duty and registration fees, which are mandatory costs for property transactions. Buyers should be aware of the guideline value to ensure they are paying the correct fees during the registration process.

Frequently asked questions

What is the current guideline value of Sri Mahalakshmi Nagar Extn 14th Cross St?

The current guideline value of Sri Mahalakshmi Nagar Extn 14th Cross St is Rs 1,500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has gone through several revisions, with the most recent being Rs 1,500 per sq.ft in both 2023 and 2024, showing no change from the previous year. The value was Rs 1,005 per sq.ft in 2017 and Rs 667 per sq.ft in 2007.

What is the classification of land in Sri Mahalakshmi Nagar Extn 14th Cross St?

The land classification for Sri Mahalakshmi Nagar Extn 14th Cross St is Residential Special Type - I, indicating its suitability for residential development.

Where is the Gooduvancheri Sub Registrar Office located?

The Gooduvancheri Sub Registrar Office is located at Defence Colony Road, near Veterinary Hospital, Nandhivaram, Guduvancheri-603202, Chengalpattu registration zone.

How is the stamp duty calculated for properties in Nandhivaram?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at Rs 1,500 per sq.ft, the guideline value would be Rs 15,00,000, leading to a stamp duty of Rs 1,05,000.