Guideline Value for SRI JAYALAKSHMI NAGAR

Sri Jayalakshmi Nagar guideline value

The current guideline value of Sri Jayalakshmi Nagar, located in Maele Manapakkam village, is Rs 301 per sq.ft, effective from 1 July 2024. This property falls under the Chengleput Joint II SRO and is classified as Residential Special Type - I.

How the guideline value of Sri Jayalakshmi Nagar has changed

Since the 2012 revision, the guideline value for Sri Jayalakshmi Nagar has seen various changes. In 2012, the value was Rs 300 per sq.ft, which remained unchanged until 2024. The 2017 revision saw a decrease to Rs 201 per sq.ft, followed by an increase to Rs 300 per sq.ft in 2023. The current value of Rs 301 per sq.ft in 2024 represents a 0% change from the previous year and a 49% increase from the 2017 figure.

The register has no figures for the years 2002, 2003, and 2007. Overall, from 2012 to 2024, the guideline value has remained stable, reflecting a 0% change over this period.

Guideline values in Maele Manapakkam

In Maele Manapakkam, there are 14 streets under the Chengleput Joint II SRO that carry a 2024 guideline value ranging from Rs 200 to Rs 450 per sq.ft, with the median value being Rs 301 per sq.ft. The guideline value of Sri Jayalakshmi Nagar aligns perfectly with this median.

• Sri Ganapathi Nagar: Rs 200 per sq.ft (2024)
• Sri Lakshmi Narayanagar Phase -II: Rs 300 per sq.ft (2024)
• Sri Lakshmi Narayana Nagar Phase -I: Rs 300 per sq.ft (2024)
• Sri Balaji Avenue: Rs 301 per sq.ft (2024)
• Sri Arunachala City: Rs 301 per sq.ft (2024)
• Sri Ragavendra Nagar: Rs 301 per sq.ft (2024)

Stamp duty and registration fee for property in Sri Jayalakshmi Nagar

For a 1,000 sq.ft plot at the current rate of Rs 301 per sq.ft, the guideline value amounts to Rs 3,01,000. The stamp duty at 7% would be Rs 21,070, and the registration fee at 2% would be Rs 6,020, totaling Rs 27,090. It is important to note that 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 Jayalakshmi Nagar?

The Sub Registrar Office that covers Sri Jayalakshmi Nagar is the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002, in the Chengalpattu registration zone. You can find your SRO for further assistance.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Maele Manapakkam. It determines the minimum value at which the property can be registered, ensuring that the transaction is recorded accurately in government records.

When a property is sold, the guideline value helps in calculating the applicable stamp duty and registration fees. This ensures that both the buyer and seller are aware of the financial obligations involved in the transaction, based on the established guideline value.

Frequently asked questions

What is the current guideline value of Sri Jayalakshmi Nagar?

The current guideline value of Sri Jayalakshmi Nagar is Rs 301 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 300 per sq.ft in 2012 to Rs 201 per sq.ft in 2017, then to Rs 300 per sq.ft in 2023, and finally to Rs 301 per sq.ft in 2024.

What is the land classification for Sri Jayalakshmi Nagar?

Sri Jayalakshmi Nagar is classified as Residential Special Type - I, indicating its designated use for residential purposes.

What are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 3,01,000, the stamp duty would be Rs 21,070, and the registration fee would be Rs 6,020, totaling Rs 27,090.

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

The Chengleput Joint II Sub Registrar Office is located at 10, Kancheepuram Main Road, Chengalpattu 603 002. This office handles registrations for properties in Sri Jayalakshmi Nagar.