Guideline Value

Corporate

Guideline Value for Sri Mahalakshmi Nagar

₹1100/sq.ft.

The guideline value for Sri Mahalakshmi Nagar in Puzhal village (Redhills SRO, Chennai zone) is Rs 1100 per sq.ft, effective 1 July 2024. It was Rs 1000 per sq.ft from 1 April 2023, a 10% change. The land classification is Residential Class Ii Type - I. Source: TNReginet guideline value register.

Last updated:

Chennai

Zone

Puzhal

Village

Redhills

SRO

Residential Class II Type - I
History
Period Guideline Value
From 1-7-2024 ₹1100 /sq.ft.
From 1-4-2023 ₹1000 /sq.ft.
From 9-6-2017 To 31-3-2023 ₹536 /sq.ft.
From 1-4-2012 To 8-6-2017 ₹800 /sq.ft.
From 1-8-2007 To 31-3-2012 ₹300 /sq.ft.
From 1-4-2003 To 31-7-2007 ₹118 /sq.ft.
From 1-4-2002 To 31-3-2003 ₹1170 /sq.ft.
Guideline Value Timeline
Guideline Value Comparison

SRO (Sub Registrar Office)

Sub Registrar Office, Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.
044-29570109
[email protected]

DRO (District Registrar Office)

District Registrar Office Jvc Complex Near Icmr Vedingallur Thiruvallur -631203
044-27661230
[email protected], [email protected]

DIG (Deputy Inspector General)

Integrated Building For Offices Of The Commercial Taxes And Registration, Department Fanepet, Nandanam, Chennai - 600 035.
044-29510527
[email protected]
Records for a plot on Sri Mahalakshmi Nagar

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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 area is located in Puzhal village, under the Redhills SRO, and is 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. The earliest recorded figure is from 2002, where the guideline value was Rs 1,170 per sq.ft. This value decreased to Rs 118 per sq.ft in 2003, marking a significant drop of 90%. The value then increased to Rs 300 per sq.ft in 2007, a rise of 154%. Following this, the value surged to Rs 800 per sq.ft in 2012, an increase of 167%. However, it then dropped to Rs 536 per sq.ft in 2017, reflecting a decrease of 33%. By the 2023 revision, the guideline value had risen to Rs 1,000 per sq.ft, an increase of 87%. The most recent revision in 2024 set the value at Rs 1,100 per sq.ft, which is a 10% increase from the previous year.

There are no figures available for the years not mentioned in the revisions, ensuring that the most accurate and up-to-date information is provided for Sri Mahalakshmi Nagar.

Guideline values in Puzhal

In Puzhal, there are 270 streets under the Redhills SRO that carry a 2024 guideline value ranging from Rs 1,100 to Rs 6,000 per sq.ft. The median guideline value for these streets is Rs 1,102 per sq.ft, placing Sri Mahalakshmi Nagar's 2024 figure slightly below the median.

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 amounts to Rs 11,00,000. The stamp duty at 7% would be Rs 77,000, and the registration fee at 2% would be Rs 22,000, bringing the total 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.

For more detailed 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 Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052. To find your specific SRO, you can visit find your SRO.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Puzhal. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is documented accurately in the official records.

When a property is sold, the guideline value is used to calculate the applicable stamp duty and registration fees. This ensures that the government receives the appropriate revenue based on the value of the property being transferred.

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 changed significantly from Rs 1,170 per sq.ft in 2002 to Rs 1,100 per sq.ft in 2024, with various increases and decreases in between.

What is the registration fee for property in Sri Mahalakshmi Nagar?

The registration fee for property in Sri Mahalakshmi Nagar is 2% of the guideline value, in addition to the stamp duty of 7%.

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

The Sub Registrar Office for Sri Mahalakshmi Nagar is the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.

What is the median guideline value in Puzhal?

The median guideline value for streets in Puzhal is Rs 1,102 per sq.ft, with Sri Mahalakshmi Nagar's current value being slightly below this median.