Guideline Value for Sri Mahalaxmi Nagar

Sri Mahalaxmi Nagar guideline value

The current guideline value of Sri Mahalaxmi Nagar, located in Amarampedu village under the Sriperumpudur SRO, is Rs 150 per sq.ft. This value is effective from the 2024 revision, which will be implemented on 1 July 2024. The land classification for this area is Residential Class II Type - I.

How the guideline value of Sri Mahalaxmi Nagar has changed

The guideline value for Sri Mahalaxmi Nagar has undergone several revisions over the years. In the 2012 revision, the value was set at Rs 150 per sq.ft. This remained unchanged until the 2017 revision, which saw a decrease to Rs 100 per sq.ft. Following this, the 2023 revision brought the value back to Rs 150 per sq.ft, and the 2024 revision maintained this rate at Rs 150 per sq.ft, reflecting a 0% change from 2023 to 2024. Overall, from 2012 to 2024, there has been no net change in the guideline value.

Between the 2017 and 2023 revisions, the guideline value increased by 50%. However, between the 2012 and 2017 revisions, there was a decrease of 33%. Notably, there are no figures available for the years 2002, 2003, and 2007 for this street.

Guideline values in Amarampedu

In Amarampedu, there are 45 streets under the Sriperumpudur SRO that have a 2024 guideline value ranging from Rs 100 to Rs 500 per sq.ft, with a median value of Rs 200 per sq.ft. The guideline value for Sri Mahalaxmi Nagar is below this median.

• Sri Rajeswari Nagar: Rs 150 per sq.ft (2024)
• Sri Ramkrishna Nagar: Rs 200 per sq.ft (2024)
• Sri Senthil Avenue: Rs 200 per sq.ft (2024)
• Star city: Rs 200 per sq.ft (2024)
• Sivan Koil Street: Rs 200 per sq.ft (2024)
• School Street: Rs 350 per sq.ft (2024)

Stamp duty and registration fee for property in Sri Mahalaxmi Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 150 per sq.ft, the total guideline value would be Rs 1,50,000. The stamp duty at 7% would amount to Rs 10,500, and the registration fee at 2% would be Rs 3,000, resulting in a total of Rs 13,500. It is important to note that the 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 Mahalaxmi Nagar?

The Sri Mahalaxmi Nagar area is covered by 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 Amarampedu

The guideline value is a crucial factor during the registration process when buying or selling property in Amarampedu. It serves as a benchmark for determining the stamp duty and registration fees that must be paid, ensuring that these costs are calculated based on the official valuation of the property.

When a property is sold, the guideline value is compared with the sale price, and the higher of the two values is used to calculate the applicable duties. This process helps maintain transparency and standardization in property transactions within the region.

Frequently asked questions

What is the current guideline value of Sri Mahalaxmi Nagar?

The current guideline value of Sri Mahalaxmi Nagar is Rs 150 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 150 per sq.ft in 2012 to Rs 100 per sq.ft in 2017, then back to Rs 150 per sq.ft in 2023 and 2024. Overall, there has been no net change from 2012 to 2024.

What are the guideline values for other streets in Amarampedu?

Other streets in Amarampedu have varying guideline values, with rates ranging from Rs 150 to Rs 350 per sq.ft. For example, Sri Rajeswari Nagar is Rs 150 per sq.ft, while School Street is Rs 350 per sq.ft.

What fees are associated with buying property in Sri Mahalaxmi Nagar?

When buying property in Sri Mahalaxmi Nagar, buyers must pay stamp duty at 7% of the guideline value and a registration fee at 2%. For a 1,000 sq.ft plot, these fees would total Rs 13,500.

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

The Sub Registrar Office covering Sri Mahalaxmi Nagar is located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone. You can find more information online.