Guideline Value for SREE MAHA LAKSHMI NAGAR

Sree Maha Lakshmi Nagar guideline value

The current guideline value of Sree Maha Lakshmi Nagar is Rs 626 per sq.ft, effective from 1 July 2024. This area is located in Kakkalur village and falls under the Tiruvallur Joint 1 SRO. The land classification for this street is Residential Class II Type - III.

How the guideline value of Sree Maha Lakshmi Nagar has changed

In the 2012 revision, the guideline value was Rs 625 per sq.ft. This figure decreased to Rs 419 per sq.ft in the 2017 revision, marking a decline of 33%. However, from 2017 to 2023, the value increased significantly by 49%, reaching Rs 626 per sq.ft in the 2023 revision, which remained unchanged in the subsequent 2024 revision.

It is important to note that there are no figures available for the years 2002, 2003, and 2007 for Sree Maha Lakshmi Nagar. Overall, the guideline value has remained stable from 2012 to 2024, with no net change during this period.

Guideline values in Kakkalur

Kakkalur village has a total of 133 streets under the Tiruvallur Joint 1 SRO, with the 2024 guideline values ranging from Rs 400 to Rs 3,000 per sq.ft. The median guideline value for these streets is Rs 626 per sq.ft, which is exactly the same as the guideline value for Sree Maha Lakshmi Nagar.

• Sree Lakshmi Nagar: Rs 626 per sq.ft (2024)
• Sree Priya Nagar: Rs 626 per sq.ft (2024)
• Sree Sakthi Nagar: Rs 626 per sq.ft (2024)
• Sree Balaji Garden: Rs 626 per sq.ft (2024)
• Sree Sastha Nagar: Rs 626 per sq.ft (2024)
• Sree Srinivasa Nagar: Rs 626 per sq.ft (2024)

Stamp duty and registration fee for property in Sree Maha Lakshmi Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 626 per sq.ft, the total guideline value would be Rs 6,26,000. The stamp duty at 7% would amount to Rs 43,820, while the registration fee at 2% would be Rs 12,520, making the total cost for these fees Rs 56,340. Please note that the duty is charged on the higher of the guideline value and the sale price.

For more detailed calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Sree Maha Lakshmi Nagar?

Sree Maha Lakshmi Nagar is covered by the Tiruvallur Joint 1 Sub Registrar Office, located at No.201, J.n.road, Taluk Office Compound, Thiruvallur-602001. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process of property transactions in Kakkalur. It is used to determine the stamp duty and registration fees that need to be paid during the transfer of property ownership.

When buying or selling property, the guideline value ensures that the transaction is recorded at a fair value, which helps in maintaining transparency in property dealings. It is essential for both buyers and sellers to be aware of the current guideline value to avoid any discrepancies during registration.

Frequently asked questions

What is the current guideline value of Sree Maha Lakshmi Nagar?

The current guideline value of Sree Maha Lakshmi Nagar is Rs 626 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen several changes, from Rs 625 per sq.ft in 2012 to Rs 419 per sq.ft in 2017, and back to Rs 626 per sq.ft in 2023 and 2024.

What is the land classification for Sree Maha Lakshmi Nagar?

Sree Maha Lakshmi Nagar is classified as Residential Class II Type - III, indicating its suitability for residential purposes.

Where can I find the Sub Registrar Office for Sree Maha Lakshmi Nagar?

The Sub Registrar Office covering Sree Maha Lakshmi Nagar is the Tiruvallur Joint 1 SRO, located at No.201, J.n.road, Taluk Office Compound, Thiruvallur-602001.

How is the stamp duty calculated for property transactions?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a property valued at Rs 6,26,000 would incur a stamp duty of Rs 43,820 at 7%.