Guideline Value for SRI LAKSHMI AVENUE

Sri Lakshmi Avenue guideline value

The current guideline value of Sri Lakshmi Avenue in Siyamangalam village is Rs 300 per sq.ft, effective from the 2024 revision. This property falls under the Walajabad Sub Registrar Office (SRO) and is classified as Residential Special Type - I.

How the guideline value of Sri Lakshmi Avenue has changed

The guideline value for Sri Lakshmi Avenue has undergone several revisions over the years. The 2017 revision set the value at Rs 248 per sq.ft, which remained unchanged at Rs 300 per sq.ft in the 2023 revision. The latest revision in 2024 also maintains the guideline value at Rs 300 per sq.ft, resulting in a 21% increase from the 2017 figure.

There are no figures available for the revisions in 2002, 2003, 2007, and 2012 for this street. The changes from 2017 to 2023 show an increase of 21%, and overall, from 2017 to 2024, the increase remains at 21% as well.

Guideline values in Siyamangalam

Siyamangalam village has 12 streets under the Walajabad SRO with a 2024 guideline value ranging from Rs 250 to Rs 371 per sq.ft. The median value for these streets is Rs 300 per sq.ft, which is equal to the guideline value of Sri Lakshmi Avenue.

• Sri Mahalakshmi Nagar: Rs 371 per sq.ft (2024)
• Sri Ganesa Nagar: Rs 371 per sq.ft (2024)
• Sri Ganapathy Nagar: Rs 250 per sq.ft (2024)
• Sri Ramajayam Nagar: Rs 371 per sq.ft (2024)
• Sri Annamalaiyar Nagar: Rs 300 per sq.ft (2024)
• Sri Samy Nagar: Rs 300 per sq.ft (2024)

Stamp duty and registration fee for property in Sri Lakshmi Avenue

For a 1,000 sq.ft plot at the current rate, the guideline value amounts to Rs 3,00,000. The stamp duty at 7% would be Rs 21,000, and the registration fee at 2% would be Rs 6,000, totaling Rs 27,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use the stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Sri Lakshmi Avenue?

The Sub Registrar Office that covers Sri Lakshmi Avenue is the Walajabad Sub Registrar Office, located at Sriperumbudur Road, Walajabad-631 605, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial reference point when buying or selling property in Siyamangalam. It is used to determine the stamp duty and registration fees applicable during the registration process.

When a property is sold, the guideline value ensures that the transaction is recorded accurately, reflecting the official value of the property for taxation purposes. Buyers and sellers should be aware of the guideline value to avoid any discrepancies during the registration of the property.

Frequently asked questions

What is the current guideline value of Sri Lakshmi Avenue?

The current guideline value of Sri Lakshmi Avenue is Rs 300 per sq.ft, effective from the 2024 revision.

How has the guideline value changed over the years?

The guideline value has increased from Rs 248 per sq.ft in 2017 to Rs 300 per sq.ft in both the 2023 and 2024 revisions, marking a 21% increase overall from 2017 to 2024.

What are the other streets in Siyamangalam and their guideline values?

Other streets in Siyamangalam include Sri Mahalakshmi Nagar, Sri Ganesa Nagar, Sri Ganapathy Nagar, Sri Ramajayam Nagar, Sri Annamalaiyar Nagar, and Sri Samy Nagar, with values ranging from Rs 250 to Rs 371 per sq.ft.

How is stamp duty calculated for properties in Sri Lakshmi Avenue?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a 1,000 sq.ft plot at the current guideline value of Rs 3,00,000, the stamp duty would be Rs 21,000 at a rate of 7%.

Where is the Sub Registrar Office for Sri Lakshmi Avenue located?

The Walajabad Sub Registrar Office is located at Sriperumbudur Road, Walajabad-631 605, Chengalpattu registration zone. This office handles the registration of properties in Sri Lakshmi Avenue.