Guideline Value for Sri Mahalakshmi Nagar

Sri Mahalakshmi Nagar guideline value

The current guideline value of Sri Mahalakshmi Nagar is Rs 1,100 per sq.ft, effective from 1 July 2024. This village falls under the Kanchipuram Joint II SRO and is classified as Residential Class I Type - I.

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 oldest available revision is from 2017, where the guideline value was Rs 670 per sq.ft. This increased to Rs 1,000 per sq.ft in 2023, marking a significant rise of 49%. The most recent revision in 2024 set the guideline value at Rs 1,100 per sq.ft, reflecting a further increase of 10% from the previous year.

It is important to note that there are no figures available for the years 2002, 2003, 2007, and 2012 for this street. Overall, from 2017 to 2024, the guideline value has increased by 64%.

Guideline values in Sevilimadu - A

In Sevilimadu - A, there are 58 streets under the Kanchipuram Joint II SRO that carry a 2024 guideline value, ranging from Rs 800 to Rs 2,200 per sq.ft. The median guideline value is Rs 1,100 per sq.ft, which aligns with the current figure for Sri Mahalakshmi Nagar.

• Sri Hari Nagar: Rs 1,100 per sq.ft (2024)
• Sri Sankar Nagar: Rs 875 per sq.ft (2024)
• S M G Nagar: Rs 1,100 per sq.ft (2024)
• S.M. Doss Nagar: Rs 1,100 per sq.ft (2024)
• S M Doss Avenue: Rs 1,100 per sq.ft (2024)
• S.S. Nagar: Rs 1,100 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 1,100 per sq.ft, the total guideline value would be Rs 11,00,000. The stamp duty at 7% would amount to Rs 77,000, and the registration fee at 2% would be Rs 22,000, bringing the total cost for these fees to Rs 99,000. 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 more details.

Which Sub Registrar Office covers Sri Mahalakshmi Nagar?

The Sub Registrar Office that covers Sri Mahalakshmi Nagar is the Kanchipuram Joint II Sub Registrar Office, located at Kamarajar Road, Taluk Office Campus, Kanchipuram-631 501, in the Chengalpattu registration zone.

For more information, you can find your SRO.

How the guideline value is used when you buy or sell in Sevilimadu - A

The guideline value is a critical factor in the registration process of property transactions in Sevilimadu - A. It determines the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling a property, the guideline value serves as a reference point for both parties. The final registration fees will be based on the higher of the guideline value or the agreed sale price, ensuring transparency in property dealings.

Frequently asked questions

What is the current guideline value of Sri Mahalakshmi Nagar?

The current guideline value of Sri Mahalakshmi Nagar is Rs 1,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 670 per sq.ft in 2017 to Rs 1,100 per sq.ft in 2024. This represents a total increase of 64% over the seven-year period.

What is the land classification for Sri Mahalakshmi Nagar?

Sri Mahalakshmi Nagar is classified as Residential Class I Type - I. This classification affects the guideline value and potential uses for the land.

Where can I find the Sub Registrar Office for Sri Mahalakshmi Nagar?

The Kanchipuram Joint II Sub Registrar Office covers Sri Mahalakshmi Nagar, located at Kamarajar Road, Taluk Office Campus, Kanchipuram-631 501.

How are stamp duty and registration fees calculated?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher, while the registration fee is charged at 2%. For example, for a property valued at Rs 11,00,000, the total fees would amount to Rs 99,000.