Guideline Value for SRI LAKSHMI NAGAR

Sri Lakshmi Nagar guideline value

The current guideline value of Sri Lakshmi Nagar is Rs 450 per sq.ft, effective from the 2024 revision. This street is located in P.V.Kalathur A village, under the Chengleput Joint I SRO, and is classified as Residential Special Type - I.

How the guideline value of Sri Lakshmi Nagar has changed

The guideline value for Sri Lakshmi Nagar has seen several revisions over the years. The 2017 revision set the value at Rs 301 per sq.ft. This figure remained unchanged until the 2023 revision, which also recorded Rs 450 per sq.ft. The most recent 2024 revision has maintained this value, showing no change from the previous year.

From 2017 to 2023, the guideline value increased by 50%. Overall, from 2017 to 2024, the increase is also 50%. Notably, there are no recorded figures for the years 2002, 2003, 2007, and 2012 for this street.

Guideline values in P.V.Kalathur A

In P.V.Kalathur A, there are 21 streets under the Chengleput Joint I SRO that carry a 2024 guideline value ranging from Rs 250 to Rs 450 per sq.ft. The median value among these streets is Rs 402 per sq.ft, making the guideline value of Sri Lakshmi Nagar higher than the median.

• Srinivasan Nagar: Rs 250 per sq.ft (2024)
• Sri Ram Nagar: Rs 402 per sq.ft (2024)
• Sri Venkata Nagar: Rs 450 per sq.ft (2024)
• Saraswathi Nagar: Rs 402 per sq.ft (2024)
• Sai City: Rs 250 per sq.ft (2024)
• Ramana Nagar: Rs 250 per sq.ft (2024)

Stamp duty and registration fee for property in Sri Lakshmi Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 450 per sq.ft, the total guideline value amounts to Rs 4,50,000. The stamp duty at 7% would be Rs 31,500, and the registration fee at 2% would be Rs 9,000, bringing the total to Rs 40,500. It is important to note that duty is charged on the higher of the guideline value or the sale price. For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Sri Lakshmi Nagar?

Sri Lakshmi Nagar falls under the Chengleput Joint I 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 P.V.Kalathur A

The guideline value is a crucial factor during the registration process when buying or selling property in P.V.Kalathur A. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction.

When a property is registered, the guideline value is compared with the sale price. The higher of the two is used to calculate the applicable duties and fees, ensuring that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Sri Lakshmi Nagar?

The current guideline value of Sri Lakshmi Nagar is Rs 450 per sq.ft, effective from the 2024 revision.

How has the guideline value changed over the years?

The guideline value has remained at Rs 450 per sq.ft from 2023 to 2024, with a 50% increase from Rs 301 per sq.ft in 2017 to Rs 450 per sq.ft in 2023.

What is the land classification of Sri Lakshmi Nagar?

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

Where is the Chengleput Joint I Sub Registrar Office located?

The Chengleput Joint I Sub Registrar Office is located at 10, Kancheepuram Main Road, Chengalpattu 603 002, Chengalpattu registration zone.

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

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, a 1,000 sq.ft plot at Rs 450 per sq.ft would incur a stamp duty of Rs 31,500.