Guideline Value for SRI LAKSHMI NAGAR

Sri Lakshmi Nagar guideline value

The current guideline value of Sri Lakshmi Nagar, located in Kavanur village, is Rs 700 per sq.ft. This value is effective from the 2024 revision and falls under the Residential Special Type - II land classification. The area is governed by the Gooduvancheri SRO.

How the guideline value of Sri Lakshmi Nagar has changed

The guideline value for Sri Lakshmi Nagar has seen several revisions over the years. In the 2012 revision, the value was set at Rs 700 per sq.ft. This remained unchanged until the 2017 revision, where it dropped to Rs 469 per sq.ft, marking a decrease of 33%. However, from 2017 to the 2023 revision, the value increased significantly by 49%, bringing it back to Rs 700 per sq.ft. The 2024 revision maintained this value at Rs 700 per sq.ft, resulting in no change from the previous year.

There are no figures available for the years 2002, 2003, and 2007 in the register for this street. Overall, from 2012 to 2024, the guideline value has remained the same at Rs 700 per sq.ft.

Guideline values in Kavanur

In Kavanur, there are 109 streets under the Gooduvancheri SRO that carry a 2024 guideline value, ranging from Rs 500 to Rs 2,239 per sq.ft. The median guideline value in this area is Rs 800 per sq.ft, placing Sri Lakshmi Nagar's 2024 figure below that median.

• Sri Mahalakshmi Nagar: Rs 500 per sq.ft (2024)
• Sri Karumariamman Nagar: Rs 600 per sq.ft (2024)
• Sri KannanNagar: Rs 800 per sq.ft (2024)
• Sri Kamatchi Amman Nagar: Rs 500 per sq.ft (2024)
• Sri Jayalakshmi Nagar: Rs 500 per sq.ft (2024)
• Sri Gopalakrishna Nagar Phase -IV: Rs 804 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 700 per sq.ft, the total guideline value amounts to Rs 7,00,000. The stamp duty at 7% would be Rs 49,000, and the registration fee at 2% would be Rs 14,000, bringing the total fees to Rs 63,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

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

Which Sub Registrar Office covers Sri Lakshmi Nagar?

The Gooduvancheri Sub Registrar Office covers Sri Lakshmi Nagar. The office is 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 Kavanur

The guideline value is a crucial factor during the registration process when buying or selling property in Kavanur. It determines the minimum value at which a property can be registered and is used to calculate the applicable stamp duty and registration fees.

When a property is sold, the guideline value ensures that the transaction is recorded at a value that reflects the area’s standards, preventing undervaluation. Buyers and sellers must be aware of the guideline value to ensure compliance with local regulations during the transaction.

Frequently asked questions

What is the current guideline value of Sri Lakshmi Nagar?

The current guideline value of Sri Lakshmi Nagar is Rs 700 per sq.ft, effective from the 2024 revision.

How has the guideline value changed over the years?

The guideline value has seen changes from Rs 700 per sq.ft in 2012, dropping to Rs 469 per sq.ft in 2017, then returning to Rs 700 per sq.ft in 2023 and 2024.

What is the land classification of Sri Lakshmi Nagar?

Sri Lakshmi Nagar is classified as Residential Special Type - II, which influences its guideline value and potential uses.

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

For a property valued at Rs 7,00,000, the stamp duty would be Rs 49,000 and the registration fee would be Rs 14,000, totaling Rs 63,000.

Which office handles registrations for Sri Lakshmi Nagar?

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