Guideline Value for SRI GAJALAKSHMI NAGAR

Sri Gajalakshmi Nagar guideline value

The current guideline value of Sri Gajalakshmi Nagar is Rs 111 per sq.ft, effective from 1 July 2024. This area is located in Mampattu village and falls under the Arani_Tiruvallur SRO. The land classification for this street is Residential Class III Type - I.

How the guideline value of Sri Gajalakshmi Nagar has changed

The guideline value for Sri Gajalakshmi Nagar has seen several revisions over the years. The most recent revision in 2024 set the guideline value at Rs 111 per sq.ft, which is the same as the 2023 revision. Prior to that, the 2017 revision recorded a guideline value of Rs 74 per sq.ft. There are no figures available for the revisions in 2002, 2003, 2007, and 2012 for this street.

From 2017 to 2023, the guideline value increased by 50%, and the overall change from 2017 to 2024 is also a 50% increase. The guideline value has remained unchanged from 2023 to 2024, indicating stability at the current rate.

Guideline values in Mampattu

Currently, there are no specific village figures available for Mampattu. Sri Gajalakshmi Nagar is the only street mentioned under the Arani_Tiruvallur SRO for which we have guideline values.

Stamp duty and registration fee for property in Sri Gajalakshmi Nagar

For a 1,000 sq.ft plot at the current rate of Rs 111 per sq.ft, the guideline value would be Rs 1,11,000. The stamp duty at 7% would amount to Rs 7,770, while the registration fee at 2% would be Rs 2,220, bringing the total to Rs 9,990. It is important to note that duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Sri Gajalakshmi Nagar?

The Sub Registrar Office that covers Sri Gajalakshmi Nagar is the Arani_Tiruvallur Sub Registrar Office, located at No.10, S.p Kovil Street, Arani, Ponneri (tk), Thiruvallur (dt) - 601 101, Chennai registration zone.

To find your SRO, you can visit find your SRO.

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

The guideline value is a crucial factor in property transactions within Mampattu. It is used to determine the stamp duty and registration fees that buyers must pay when purchasing property. This value helps in standardizing property prices and ensuring transparency in transactions.

When registering a property, the guideline value serves as a benchmark for calculating the applicable fees. Buyers should be aware that the duty is charged based on the higher amount between the guideline value and the actual sale price, ensuring that the government receives appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Sri Gajalakshmi Nagar?

The current guideline value of Sri Gajalakshmi Nagar is Rs 111 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased by 50% from Rs 74 per sq.ft in 2017 to Rs 111 per sq.ft in 2024. There was no change from 2023 to 2024, as the value remained at Rs 111 per sq.ft.

What are the stamp duty and registration fees for property in Sri Gajalakshmi Nagar?

For a property valued at Rs 1,11,000, the stamp duty would be Rs 7,770 and the registration fee would be Rs 2,220, totaling Rs 9,990. These fees are based on the guideline value.

Which office do I need to visit for property registration in Sri Gajalakshmi Nagar?

The Arani_Tiruvallur Sub Registrar Office is responsible for property registration in Sri Gajalakshmi Nagar. The office is located at No.10, S.p Kovil Street, Arani, Ponneri (tk), Thiruvallur (dt) - 601 101, Chennai registration zone.

Are there other streets in Mampattu with guideline values?

Currently, there are no other streets in Mampattu listed under the Arani_Tiruvallur SRO for which guideline values are available. Sri Gajalakshmi Nagar is the only street mentioned.