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 Panangottur village under the Chengleput Joint II SRO, 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 seen several revisions over the years. The 2012 revision set the value at Rs 600 per sq.ft, which remained unchanged until the 2017 revision, where it dropped to Rs 402 per sq.ft. In 2023, the value increased to Rs 600 per sq.ft, and the most recent revision in 2024 raised it to Rs 660 per sq.ft. Notably, there are no figures available for the revisions in 2002, 2003, and 2007.

Between these revisions, the changes were significant. From 2012 to 2017, there was a decrease of 33%, but from 2017 to 2023, the value increased by 49%. The overall change from 2012 to 2024 reflects an increase of 10%.

Guideline values in Panangottur

In Panangottur, there are 419 streets under the Chengleput Joint II SRO with a 2024 guideline value ranging from Rs 440 to Rs 2,200 per sq.ft. The median value for these streets is Rs 990 per sq.ft, placing the guideline value of 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 Ganapathy Nagar Colony Extn - V: Rs 660 per sq.ft (2024)
• Sri Ganapathy Garden Permanur (Ward -15): Rs 440 per sq.ft (2024)
• Sri Chandra Surya Gardens (Ward -15): 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 is charged at 7%, which totals Rs 46,200, and the registration fee is 2%, amounting to Rs 13,200. Together, the total fees come to Rs 59,400. It is important to note that duty is charged on the higher of the guideline value or the sale price. For more details, you can use the stamp duty and registration fee calculator.

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

Sri Lakshmi Nagar (Sa) falls under 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 more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Panangottur. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When a buyer purchases property, the transaction must be registered at the local Sub Registrar Office, where the guideline value is referenced. This ensures transparency and helps in maintaining a standard valuation for properties across the region.

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 660 per sq.ft in 2024, with a notable increase of 49% from 2017 to 2023.

What is the registration office for Sri Lakshmi Nagar (Sa)?

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

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

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

Where can I find more information on guideline values in Panangottur?

More information on guideline values in Panangottur can be found through the local registration department or by visiting relevant online resources.