Guideline Value for Sri Mahalakshmi Nagar

Sri Mahalakshmi Nagar guideline value

The current guideline value of Sri Mahalakshmi Nagar is Rs 500 per sq.ft, effective from 1 July 2024. This locality is situated in Kavanur village under the Gooduvancheri SRO, classified as Residential Class II Type - I.

How the guideline value of Sri Mahalakshmi Nagar has changed

Over the years, the guideline value of Sri Mahalakshmi Nagar has seen several revisions. In 2007, the value was Rs 300 per sq.ft, which increased to Rs 500 per sq.ft in 2012. This was followed by a decrease to Rs 335 per sq.ft in 2017, before stabilizing at Rs 500 per sq.ft in both the 2023 and 2024 revisions. The register has no figure for the revisions in 2002 and 2003.

From 2017 to 2023, the guideline value increased by 49%, while the change from 2012 to 2017 was a decrease of 33%. The overall change from 2007 to 2024 reflects an increase of 67% in the guideline value.

Guideline values in Kavanur

In Kavanur, there are 109 streets under the Gooduvancheri SRO carrying a 2024 guideline value ranging from Rs 500 to Rs 2,239 per sq.ft, with a median value of Rs 800 per sq.ft. The guideline value of Sri Mahalakshmi Nagar is below this median.

• Sri Lakshmi Nagar: Rs 700 per sq.ft (2024)
• Sri Karumariamman Nagar: Rs 600 per sq.ft (2024)
• Sri Kannan Nagar: Rs 800 per sq.ft (2024)
• Sri Kamatchi Amman Nagar: Rs 500 per sq.ft (2024)
• Sri Jayalakshmi Nagar: Rs 500 per sq.ft (2024)
• Sri Gopalakrishna Nagar Phase -IV: Rs 804 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 500 per sq.ft, the total guideline value amounts to Rs 5,00,000. The stamp duty at 7% would be Rs 35,000, and the registration fee at 2% would be Rs 10,000, bringing the total cost for stamp duty and registration fees to Rs 45,000. Duty is charged on the higher of the guideline value and the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Sri Mahalakshmi Nagar?

Sri Mahalakshmi Nagar falls under the Gooduvancheri Sub Registrar Office, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, 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 Kavanur

The guideline value is a critical factor when registering property in Kavanur. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction process.

When buying or selling property, the guideline value ensures that transactions are conducted transparently and fairly, reflecting the current market conditions as defined by the Registration Department's guideline value register.

Frequently asked questions

What is the current guideline value of Sri Mahalakshmi Nagar?

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

How has the guideline value changed over the years?

The guideline value has changed from Rs 300 per sq.ft in 2007 to Rs 500 per sq.ft in 2012, then decreased to Rs 335 per sq.ft in 2017, and has remained at Rs 500 per sq.ft in both 2023 and 2024.

What is the median guideline value in Kavanur?

The median guideline value for streets in Kavanur is Rs 800 per sq.ft, while Sri Mahalakshmi Nagar's guideline value is below this median.

What are the stamp duty and registration fees for a property in Sri Mahalakshmi Nagar?

For a property valued at Rs 5,00,000, the stamp duty would be Rs 35,000 and the registration fee would be Rs 10,000, totaling Rs 45,000 for a 1,000 sq.ft plot.

Which Sub Registrar Office covers the registration for Sri Mahalakshmi Nagar?

The Gooduvancheri Sub Registrar Office covers Sri Mahalakshmi Nagar, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvancheri-603202, Chengalpattu registration zone.