Guideline Value for SRI LAKSHMI NAGAR (SA)

Sri Lakshmi Nagar (Sa) guideline value

The current guideline value of Sri Lakshmi Nagar (Sa) is Rs 660 per sq.ft, effective from 1 July 2024. This area is located in Kattankollatur village, under the Chengleput Joint II SRO, and is classified as Residential Class I Type - III.

How the guideline value of Sri Lakshmi Nagar (Sa) has changed

The guideline value for Sri Lakshmi Nagar (Sa) has undergone several revisions over the years. The 2012 revision set the value at Rs 600 per sq.ft, which then decreased to Rs 402 per sq.ft in the 2017 revision. However, from 2017 to 2023, the value increased significantly by 49% to Rs 600 per sq.ft, and the most recent 2024 revision has further increased it to Rs 660 per sq.ft, marking a 10% rise from the previous year.

There are no figures available for the revisions in 2002, 2003, and 2007 for this street. Overall, comparing the 2012 and 2024 revisions, there has been a cumulative increase of 10% in the guideline value.

Guideline values in Kattankollatur

Kattankollatur village has a total of 453 streets under the Chengleput Joint II SRO, with guideline values ranging from Rs 440 to Rs 3,612 per sq.ft. The median guideline value for these streets is Rs 1,100 per sq.ft, placing the 2024 figure for Sri Lakshmi Nagar (Sa) below this median.

• Sri Maruthi Nagar (Sa): Rs 440 per sq.ft (2024)
• Sri Krishna 4th Street Korukanthangal (Ward -18): Rs 660 per sq.ft (2024)
• Srinivasa Nagar (Kr): Rs 660 per sq.ft (2024)
• Sri Gopala Krishnan Nagar: Rs 880 per sq.ft (2024)
• Sri Gopalakrishna Nagar Phase - III: Rs 1,980 per sq.ft (2024)
• Sri Gopalakrishna Nagar Phase -I: Rs 990 per sq.ft (2024)

Stamp duty and registration fee for property in Sri Lakshmi Nagar (Sa)

For a 1,000 sq.ft plot at the current guideline value of Rs 660 per sq.ft, the total guideline value amounts to Rs 6,60,000. The stamp duty at 7% would be Rs 46,200, and the registration fee at 2% would be Rs 13,200, bringing the total fees together to Rs 59,400. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can also use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Sri Lakshmi Nagar (Sa)?

The Sub Registrar Office that covers Sri Lakshmi Nagar (Sa) is the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Kattankollatur. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is transparent and fair.

When a property is sold, the guideline value is used to calculate the applicable stamp duty and registration fees. Buyers should be aware that these fees are based on the higher of the guideline value or the sale price, which may affect the overall cost of the transaction.

Frequently asked questions

What is the current guideline value of Sri Lakshmi Nagar (Sa)?

The current guideline value of Sri Lakshmi Nagar (Sa) is Rs 660 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 600 per sq.ft in 2012 to Rs 402 per sq.ft in 2017, then increased to Rs 600 per sq.ft in 2023, and finally to Rs 660 per sq.ft in 2024.

What is the land classification for Sri Lakshmi Nagar (Sa)?

Sri Lakshmi Nagar (Sa) is classified as Residential Class I Type - III, which indicates its suitability for residential development.

What are the stamp duty and registration fees for a property in Sri Lakshmi Nagar (Sa)?

For a property valued at Rs 6,60,000, the stamp duty would be Rs 46,200 and the registration fee would be Rs 13,200, totaling Rs 59,400.

Where can I find the Sub Registrar Office for Sri Lakshmi Nagar (Sa)?

The Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002, covers Sri Lakshmi Nagar (Sa).