Guideline Value for Sri Mahalakshmi Nagar

Sri Mahalakshmi Nagar guideline value

The current guideline value of Sri Mahalakshmi Nagar, located in Puthuper village, under the Sriperumpudur SRO, is Rs 400 per sq.ft, effective from 1 July 2024. The land classification for this area is Residential Special 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 2012 revision set the value at Rs 400 per sq.ft, which remained unchanged through the 2017 revision. In 2017, the value was Rs 268 per sq.ft, showing a decrease from the previous revision. The 2023 revision again set the value at Rs 400 per sq.ft, and this has been maintained in the 2024 revision, indicating no change from the previous year.

From 2017 to 2023, there was a significant increase of 49% in the guideline value. However, between 2012 and 2017, the value decreased by 33%. Overall, from 2012 to 2024, there has been no change in the guideline value. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Puthuper

In Puthuper village, there are 39 streets under the Sriperumpudur SRO that carry a 2024 guideline value, ranging from Rs 100 to Rs 1,350 per sq.ft. The median guideline value for these streets is Rs 400 per sq.ft, which is equal to the current guideline value of Sri Mahalakshmi Nagar.

• Sri Ganapathy Garden: Rs 400 per sq.ft (2024)
• Sriram Nagar: Rs 300 per sq.ft (2024)
• Sivashanmugam Nagar Annex-III: Rs 400 per sq.ft (2024)
• Sivashanmugam Nagar Annex: Rs 400 per sq.ft (2024)
• Sivashanmugam Nagar: Rs 400 per sq.ft (2024)
• Sekar Avenue: Rs 410 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 400 per sq.ft, the total guideline value would be Rs 4,00,000. The stamp duty, charged at 7%, would amount to Rs 28,000, while the registration fee at 2% would be Rs 8,000, bringing the total fees to Rs 36,000. 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 Sriperumpudur Sub Registrar Office, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role during the registration of property transactions in Puthuper. It is used to determine the stamp duty and registration fees that need to be paid when a property is bought or sold.

When registering a property, the buyer must pay the stamp duty based on the guideline value or the sale price, whichever is higher. This ensures that the transaction is recorded accurately and that the appropriate taxes are collected by the government.

Frequently asked questions

What is the current guideline value of Sri Mahalakshmi Nagar?

The current guideline value of Sri Mahalakshmi Nagar is Rs 400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen various revisions, with the value remaining at Rs 400 per sq.ft in 2012, 2023, and 2024. The 2017 revision saw a decrease to Rs 268 per sq.ft, and from 2017 to 2023, it increased by 49%.

What is the land classification for Sri Mahalakshmi Nagar?

Sri Mahalakshmi Nagar is classified as Residential Special Type - I, indicating its suitability for residential development.

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

The Sub Registrar Office for Sri Mahalakshmi Nagar is located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone.

How is the stamp duty calculated for properties in Sri Mahalakshmi Nagar?

The stamp duty for properties in Sri Mahalakshmi Nagar is calculated at 7% of the guideline value or the sale price, whichever is higher. Additionally, a registration fee of 2% is applicable.