Guideline Value for Sri Mahalaxmi Nagar

Sri Mahalaxmi Nagar guideline value

The current guideline value of Sri Mahalaxmi Nagar is Rs 350 per sq.ft, effective from the 2024 revision. This area is located in Siru Mathoor village under the Sriperumpudur SRO, classified as Residential Class I Type - I.

How the guideline value of Sri Mahalaxmi Nagar has changed

Over the years, the guideline value of Sri Mahalaxmi Nagar has seen several revisions. The 2012 revision set the value at Rs 350 per sq.ft, which remained unchanged until the 2023 revision, also at Rs 350 per sq.ft. The 2017 revision marked a decrease to Rs 234 per sq.ft, reflecting a -33% change from 2012. The 2024 revision brought the value back to Rs 350 per sq.ft, indicating no change from the previous year.

From 2017 to 2023, the guideline value increased by 50%. Overall, comparing the 2012 to 2024 revisions, 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 Siru Mathoor

Siru Mathoor village has a total of 24 streets under the Sriperumpudur SRO, with guideline values ranging from Rs 150 to Rs 2,500 per sq.ft. The median guideline value in the village is Rs 600 per sq.ft, placing Sri Mahalaxmi Nagar's 2024 figure below this median.

• Santhi Nagar: Rs 400 per sq.ft (2024)
• Rajeswari Nagar: Rs 300 per sq.ft (2024)
• Raja Rajeswari Nagar: Rs 300 per sq.ft (2024)
• Vetri Nagar: Rs 250 per sq.ft (2024)
• Perumal Koil street: Rs 600 per sq.ft (2024)
• Padmavathy Nagar: Rs 150 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 350 per sq.ft, the total guideline value amounts to Rs 3,50,000. The stamp duty at 7% would be Rs 24,500, and the registration fee at 2% would be Rs 7,000, bringing the total fees to Rs 31,500. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Sri Mahalaxmi Nagar?

The Sri Mahalaxmi Nagar area falls under the jurisdiction of 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 Siru Mathoor

The guideline value is a crucial factor in determining the stamp duty and registration fees when buying or selling property in Siru Mathoor. It serves as a benchmark for the government to calculate the applicable taxes based on the property's value.

When a property is registered, the guideline value ensures that the transaction is recorded at a fair price, helping to maintain transparency in property dealings. Buyers and sellers should be aware of the guideline value to understand the financial implications of their transactions.

Frequently asked questions

What is the current guideline value of Sri Mahalaxmi Nagar?

The current guideline value of Sri Mahalaxmi Nagar is Rs 350 per sq.ft, effective from the 2024 revision.

How has the guideline value changed over the years?

The guideline value has remained at Rs 350 per sq.ft in both the 2023 and 2012 revisions. It decreased to Rs 234 per sq.ft in the 2017 revision, marking a -33% change from 2012, and increased by 50% from 2017 to 2023.

What are the guideline values of other streets in Siru Mathoor?

Other streets in Siru Mathoor have varying guideline values. For example, Santhi Nagar has a value of Rs 400 per sq.ft, while Padmavathy Nagar is at Rs 150 per sq.ft.

What fees are involved when buying property in Sri Mahalaxmi Nagar?

When buying property in Sri Mahalaxmi Nagar, buyers need to consider stamp duty at 7% and registration fees at 2% of the guideline value or sale price, whichever is higher.

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

The Sub Registrar Office for Sri Mahalaxmi Nagar is located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone. You can find more information by visiting the relevant link.