Guideline Value for SRI GRAHALAKSHMI NAGAR

Sri Grahalakshmi Nagar guideline value

The current guideline value of Sri Grahalakshmi Nagar is Rs 4,000 per sq.ft, effective from 1 July 2024. This locality is situated in Kodungaiyur village under the Madhavaram SRO, classified as Residential Special Type - II.

How the guideline value of Sri Grahalakshmi Nagar has changed

From the 2017 revision, the guideline value for Sri Grahalakshmi Nagar has been consistently recorded at Rs 4,000 per sq.ft in the subsequent revisions of 2023 and 2024. The register has no figures for the years 2002, 2003, 2007, and 2012 for this street.

Overall, there has been no change in the guideline value from 2017 to 2024, remaining at Rs 4,000 per sq.ft. The revisions from 2023 to 2024 also reflect a change of +0%.

Guideline values in Kodungaiyur

Kodungaiyur consists of 1,318 streets under the Madhavaram SRO, with the 2024 guideline values ranging from Rs 1,900 to Rs 4,000 per sq.ft. The median guideline value for the area is Rs 2,700 per sq.ft, placing Sri Grahalakshmi Nagar above this median.

• Sri Ganesh Nagar / Ganesh Nagar: Rs 2,700 per sq.ft (2024)
• Sri Ganesh Nagar Extension / Ganesh Nagar Extension: Rs 2,700 per sq.ft (2024)
• Srinivasa 1st Lane: Rs 1,900 per sq.ft (2024)
• Srinivasa 2nd Lane: Rs 1,900 per sq.ft (2024)
• Sree Raghavendra Nagar: Rs 3,800 per sq.ft (2024)
• Srinivasan Street: Rs 2,700 per sq.ft (2024)

Stamp duty and registration fee for property in Sri Grahalakshmi Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 4,000 per sq.ft, the total guideline value amounts to Rs 40,00,000. The stamp duty at 7% would be Rs 2,80,000, and the registration fee at 2% would be Rs 80,000, bringing the total fees to Rs 3,60,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Sri Grahalakshmi Nagar?

The Sub Registrar Office that covers Sri Grahalakshmi Nagar is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find your SRO for more information.

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

The guideline value plays a crucial role in property transactions in Kodungaiyur, as it determines the minimum value at which properties can be registered. Buyers and sellers must be aware of this value to ensure compliance with local regulations during the registration process.

When registering a property, the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. This ensures that the government receives appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Sri Grahalakshmi Nagar?

The current guideline value of Sri Grahalakshmi Nagar is Rs 4,000 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has remained at Rs 4,000 per sq.ft since the 2017 revision, with no changes noted in the revisions of 2023 and 2024. There are no figures available for the years 2002, 2003, 2007, and 2012 for this street.

What are the guideline values for other streets in Kodungaiyur?

Other streets in Kodungaiyur have varying guideline values, with rates ranging from Rs 1,900 to Rs 4,000 per sq.ft. Sri Grahalakshmi Nagar's value is above the median guideline value of Rs 2,700 per sq.ft.

What are the stamp duty and registration fees in Sri Grahalakshmi Nagar?

The stamp duty is calculated at 7% of the guideline value, while the registration fee is 2%. For a property valued at Rs 40,00,000, the total fees would amount to Rs 3,60,000.

Where is the Madhavaram Sub Registrar Office located?

The Madhavaram Sub Registrar Office is located at No.7, Roja Nagar, Madhavaram, Chennai-600060. This office handles registrations for properties in Sri Grahalakshmi Nagar.