Guideline Value for SRI LAKSHMI NAGAR

Sri Lakshmi Nagar guideline value

The current guideline value of Sri Lakshmi Nagar is Rs 1,500 per sq.ft. This area falls under Kolapakkam village, governed by the Gooduvancheri SRO. The land classification for this locality is Residential Special Type - II.

How the guideline value of Sri Lakshmi Nagar has changed

The guideline value for Sri Lakshmi Nagar has experienced several revisions over the years. In the 2007 revision, the guideline value was Rs 230 per sq.ft. This increased significantly to Rs 1,500 per sq.ft in the 2012 revision, marking a substantial rise of 552%. However, in the 2017 revision, the value decreased to Rs 1,005 per sq.ft, which was a decline of 33%. The most recent revision in 2023 set the guideline value back to Rs 1,500 per sq.ft, representing an increase of 49% from the 2017 figure. The register has no figure for the years 2002, 2003, and 2024 for this street.

Guideline values in Kolapakkam

Currently, there are no specific village figures available for Kolapakkam. Sri Lakshmi Nagar is one of the streets in this locality, and there are no other streets in Kolapakkam under the Gooduvancheri SRO listed.

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 1,500 per sq.ft, the total guideline value amounts to Rs 15,00,000. The stamp duty at 7% would be Rs 1,05,000, and the registration fee at 2% would be Rs 30,000, bringing the total cost for these fees to Rs 1,35,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Sri Lakshmi Nagar?

The Sub Registrar Office that covers 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 details.

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

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

When a property is sold, the buyer must pay stamp duty and registration fees based on the guideline value or the sale price, whichever is higher. This ensures 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 1,500 per sq.ft as per the 2023 revision.

How has the guideline value changed over the years?

The guideline value has changed from Rs 230 per sq.ft in 2007 to Rs 1,500 per sq.ft in 2012, then decreased to Rs 1,005 per sq.ft in 2017, and finally returned to Rs 1,500 per sq.ft in 2023.

What is the land classification for Sri Lakshmi Nagar?

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

Where is the Gooduvancheri Sub Registrar Office located?

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

How is the stamp duty calculated for property in Sri Lakshmi Nagar?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at Rs 1,500 per sq.ft, the stamp duty would be Rs 1,05,000.