Guideline Value for SRI LAKSHMI GANESH NAGAR

Sri Lakshmi Ganesh Nagar guideline value

The current guideline value of Sri Lakshmi Ganesh Nagar is Rs 250 per sq.ft, effective from 1 July 2024. This locality is situated in Dalvaipattadai village, under the Pallipattu Sub Registrar Office (SRO). The land classification for this area is Residential Class II Type - I.

How the guideline value of Sri Lakshmi Ganesh Nagar has changed

The guideline value for Sri Lakshmi Ganesh Nagar has seen several revisions over the years. The earliest available figure is from the 2017 revision, where the guideline value was Rs 167 per sq.ft. This figure increased by 50% to Rs 250 per sq.ft in the 2023 revision, and it remained unchanged at Rs 250 per sq.ft in the subsequent 2024 revision. Notably, there are no figures available for the years 2002, 2003, 2007, and 2012 for this street.

From the 2017 revision to the 2024 revision, the overall increase in the guideline value is also 50%. The guideline value remained stable from 2023 to 2024, with no percentage change recorded during this period.

Guideline values in Dalvaipattadai

In Dalvaipattadai, there are six streets under the Pallipattu SRO that have a guideline value for 2024, ranging from Rs 250 to Rs 605 per sq.ft. The median guideline value for these streets is Rs 351 per sq.ft, placing Sri Lakshmi Ganesh Nagar's 2024 figure below that median.

• N.S.K. Nagar: Rs 420 per sq.ft (2024)
• Mannikkammal Nagar: Rs 300 per sq.ft (2024)
• Ibrahim Nagar: Rs 351 per sq.ft (2024)
• Sai Baba Nagar: Rs 350 per sq.ft (2024)
• Vip City: Rs 605 per sq.ft (2024)

Stamp duty and registration fee for property in Sri Lakshmi Ganesh Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 250 per sq.ft, the total guideline value amounts to Rs 2,50,000. The stamp duty at 7% would be Rs 17,500, while the registration fee at 2% would be Rs 5,000. Therefore, the total cost for stamp duty and registration fees together would be Rs 22,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more details on calculating fees, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Sri Lakshmi Ganesh Nagar?

The Sub Registrar Office that covers Sri Lakshmi Ganesh Nagar is the Pallipattu Sub Registrar Office, located at Nagiri Road, Surajapettai, Pallipattu Taluk, Thiruvallur District-631 207. For more information, you can find your SRO.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Dalvaipattadai. It serves as a reference point for determining the minimum value at which a property can be registered. Buyers and sellers must be aware of the guideline value to ensure compliance with the registration requirements.

When a property is sold, 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 the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Sri Lakshmi Ganesh Nagar?

The current guideline value of Sri Lakshmi Ganesh Nagar is Rs 250 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value increased from Rs 167 per sq.ft in 2017 to Rs 250 per sq.ft in 2023, and it remained the same in 2024. Overall, there has been a 50% increase from 2017 to 2024.

What is the land classification for Sri Lakshmi Ganesh Nagar?

Sri Lakshmi Ganesh Nagar is classified as Residential Class II Type - I. This classification affects the guideline value and the types of developments permissible in the area.

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

The stamp duty is 7% of the guideline value, while the registration fee is 2%. For a 1,000 sq.ft plot, the total fees would amount to Rs 22,500.

Which office handles property registrations in Sri Lakshmi Ganesh Nagar?

The Pallipattu Sub Registrar Office handles property registrations for Sri Lakshmi Ganesh Nagar. It is located at Nagiri Road, Surajapettai, Pallipattu Taluk, Thiruvallur District-631 207.