Guideline Value for Hemalakshmi Nagar

Hemalakshmi Nagar guideline value

The current guideline value of Hemalakshmi Nagar is Rs 803 per sq.ft, effective from 1 July 2024. This area is located in Kovilpathagai village under the Ambattur SRO, classified as Residential Class IV Type - I.

How the guideline value of Hemalakshmi Nagar has changed

Looking at the historical revisions, the guideline value for Hemalakshmi Nagar was Rs 400 per sq.ft in 2012. This increased to Rs 268 per sq.ft in 2017, marking a decrease of 33%. However, from 2017 to 2023, the value rose significantly to Rs 803 per sq.ft, reflecting a 200% increase. The 2023 revision also maintained the same rate of Rs 803 per sq.ft for the 2024 revision, indicating no change.

The register has no figures for the years 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has increased by 101%.

Guideline values in Kovilpathagai

Kovilpathagai village has a total of 278 streets under the Ambattur SRO, with guideline values ranging from Rs 803 to Rs 2,900 per sq.ft. The median guideline value in this area is Rs 870 per sq.ft, placing Hemalakshmi Nagar's 2024 figure below that median.

• Hemalakshmi Street (Ashok Nagar): Rs 806 per sq.ft (2024)
• Hari Krishna Nagar M.R.P. Avenue: Rs 806 per sq.ft (2024)
• Hari Krishna Nagar Balaji Avenue: Rs 806 per sq.ft (2024)
• Hari Krishna Nagar: Rs 806 per sq.ft (2024)
• I.A.F. Road: Rs 805 per sq.ft (2024)
• Indiraji Street: Rs 806 per sq.ft (2024)

Stamp duty and registration fee for property in Hemalakshmi Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 803 per sq.ft, the total guideline value amounts to Rs 8,03,000. The stamp duty at 7% would be Rs 56,210, and the registration fee at 2% would be Rs 16,060, bringing the total fees together to Rs 72,270. Duty is charged on the guideline value or the sale price, whichever is higher. You can calculate your fees using the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Hemalakshmi Nagar?

The Sub Registrar Office that covers Hemalakshmi Nagar is the Ambattur Sub Registrar Office, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone. You can find your SRO here.

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

The guideline value is a crucial factor during property registration in Kovilpathagai. It serves as the minimum value for calculating stamp duty and registration fees, ensuring that these charges are based on a standardized assessment of property worth.

When buying or selling property, the guideline value helps both parties understand the official valuation of the property, which can influence negotiations and final sale prices. It is essential for buyers and sellers to be aware of these values to ensure compliance with registration requirements.

Frequently asked questions

What is the current guideline value of Hemalakshmi Nagar?

The current guideline value of Hemalakshmi Nagar is Rs 803 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen significant changes, increasing from Rs 400 per sq.ft in 2012 to Rs 803 per sq.ft in 2024, with a notable rise of 200% from 2017 to 2023.

What is the land classification of Hemalakshmi Nagar?

Hemalakshmi Nagar is classified as Residential Class IV Type - I, indicating its designation for residential purposes under local regulations.

How is stamp duty calculated for properties in Hemalakshmi Nagar?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a property valued at Rs 8,03,000 incurs a stamp duty of Rs 56,210 at 7%.

Where can I find the Sub Registrar Office for Hemalakshmi Nagar?

The Sub Registrar Office for Hemalakshmi Nagar is the Ambattur Sub Registrar Office, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone.