Guideline Value for Sri Mahalakshmi Nagar

Sri Mahalakshmi Nagar guideline value

The current guideline value of Sri Mahalakshmi Nagar, located in Pulikoradu village, is Rs 2,200 per sq.ft. This value is effective from the 2024 revision and falls under the Residential Class I Type - II land classification. The area is registered under the Tambaram Joint 1 SRO in the Chengalpattu zone.

How the guideline value of Sri Mahalakshmi Nagar has changed

Over the years, the guideline value of Sri Mahalakshmi Nagar has seen significant changes. In the 2007 revision, the guideline value was Rs 100 per sq.ft, which dramatically increased to Rs 2,000 per sq.ft in the 2012 revision, marking a rise of 1900%. However, the value dropped to Rs 1,340 per sq.ft in the 2017 revision, reflecting a decrease of 33%. The subsequent 2023 revision set the value at Rs 2,000 per sq.ft, which was a substantial increase of 49% from the previous revision. The latest revision in 2024 has further raised the guideline value to Rs 2,200 per sq.ft, representing a 10% increase from 2023.

The register does not contain figures for the years 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 2100%, showcasing the fluctuations in property values in this area.

Guideline values in Pulikoradu

In Pulikoradu, there are 62 streets under the Tambaram Joint 1 SRO, with guideline values ranging from Rs 880 to Rs 6,600 per sq.ft. The median guideline value for the village is Rs 880 per sq.ft, placing Sri Mahalakshmi Nagar's 2024 figure above that median.

• Sri Marudhi Avenue: Rs 1,100 per sq.ft (2024)
• Sri Pasumpon Nagar: Rs 2,200 per sq.ft (2024)
• Sri Bhuvaneshwar Nagar Extn.: Rs 1,100 per sq.ft (2024)
• Sri Bhuvaneshwar Nagar: Rs 880 per sq.ft (2024)
• Service Road(Maduravayul ByPass): Rs 1,320 per sq.ft (2024)
• Selvapuram: Rs 880 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 rate of Rs 2,200 per sq.ft, the guideline value amounts to Rs 22,00,000. The stamp duty at 7% would be Rs 1,54,000, while the registration fee at 2% would be Rs 44,000, totaling Rs 1,98,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Sri Mahalakshmi Nagar?

The Sub Registrar Office that covers Sri Mahalakshmi Nagar is the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process of property transactions in Pulikoradu. It is used to determine the stamp duty and registration fees that need to be paid when buying or selling property. Buyers and sellers must be aware of the current guideline value to ensure they are paying the correct fees during registration.

When a property is sold, the guideline value is assessed to calculate the applicable duties. This ensures that the government receives the appropriate revenue from property transactions, reflecting the official value of the property as determined by the registration department.

Frequently asked questions

What is the current guideline value of Sri Mahalakshmi Nagar?

The current guideline value of Sri Mahalakshmi Nagar is Rs 2,200 per sq.ft, effective from the 2024 revision.

How has the guideline value changed over the years?

The guideline value has changed significantly, from Rs 100 per sq.ft in 2007 to Rs 2,200 per sq.ft in 2024, reflecting an overall increase of 2100% over this period.

What are the stamp duty rates for property in Sri Mahalakshmi Nagar?

The stamp duty for property transactions in Sri Mahalakshmi Nagar is 7% of the guideline value or sale price, whichever is higher.

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

The Sub Registrar Office for Sri Mahalakshmi Nagar is the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059.

What are the guideline values of other streets in Pulikoradu?

Other streets in Pulikoradu have varying guideline values, with rates ranging from Rs 880 to Rs 6,600 per sq.ft. For example, Sri Pasumpon Nagar has a guideline value of Rs 2,200 per sq.ft, while Sri Bhuvaneshwar Nagar is at Rs 880 per sq.ft.