Guideline Value for SRI LAKSHMI NAGAR

Sri Lakshmi Nagar guideline value

The current guideline value of Sri Lakshmi Nagar is Rs 600 per sq.ft, effective from 1 July 2024. This area is located in Arambakkam village, under the Gooduvancheri 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 2012 revision set the value at Rs 600 per sq.ft, which remained unchanged in the 2017 revision. However, in 2017, the value was Rs 402 per sq.ft, marking a decrease of 33% from the previous revision. The 2023 revision also maintained the value at Rs 600 per sq.ft, and this value will continue into the 2024 revision, reflecting no change from 2023 to 2024.

From 2017 to 2023, there was a significant increase of 49%. Overall, from 2012 to 2024, the guideline value remains unchanged at Rs 600 per sq.ft. It is important to note that the register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Arambakkam

In Arambakkam, there are 33 streets under the Gooduvancheri SRO, with guideline values ranging from Rs 400 to Rs 800 per sq.ft. The median value for these streets is Rs 600 per sq.ft, which aligns with the current guideline value for Sri Lakshmi Nagar.

• Sri Lakshmi Hayagrevar Nagar: Rs 800 per sq.ft (2024)
• Sri Kumaran Nagar: Rs 600 per sq.ft (2024)
• Sri Ellai Amman Nagar: Rs 500 per sq.ft (2024)
• Sri Raghuraman Nagar: Rs 600 per sq.ft (2024)
• Sri Sai Green Homes: Rs 800 per sq.ft (2024)
• Sri Sai Muruga Garden: Rs 600 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 600 per sq.ft, the total guideline value would be Rs 6,00,000. The stamp duty at 7% would amount to Rs 42,000, and the registration fee at 2% would be Rs 12,000, bringing the total fees to Rs 54,000. 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 details.

Which Sub Registrar Office covers Sri Lakshmi Nagar?

The Sub Registrar Office covering Sri Lakshmi Nagar is the Gooduvancheri Sub Registrar Office, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvancheri-603202, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Arambakkam. It serves as a reference point for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is registered, the authorities will assess either the guideline value or the sale price, whichever is higher, to calculate the applicable duties and fees. This ensures that the registration reflects the true value of the property being transferred.

Frequently asked questions

What is the current guideline value of Sri Lakshmi Nagar?

The current guideline value of Sri Lakshmi Nagar is Rs 600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has remained at Rs 600 per sq.ft since 2012, with a significant increase of 49% from Rs 402 per sq.ft in 2017 to Rs 600 per sq.ft in 2023. There has been no change from 2023 to 2024.

What are the guideline values of other streets in Arambakkam?

Other streets in Arambakkam have varying guideline values, with rates ranging from Rs 400 to Rs 800 per sq.ft. The median value for these streets is Rs 600 per sq.ft.

What are the stamp duty and registration fees for properties in Sri Lakshmi Nagar?

For a property valued at Rs 6,00,000, the stamp duty would be Rs 42,000, and the registration fee would be Rs 12,000, totaling Rs 54,000. This is calculated based on the guideline value.

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

The Gooduvancheri Sub Registrar Office covers Sri Lakshmi Nagar and is located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvancheri-603202, Chengalpattu registration zone.