Guideline Value for SRI LAKSHMI NAGAR

Sri Lakshmi Nagar guideline value

The current guideline value of Sri Lakshmi Nagar, located in Kizhamoor village under the Madurandakam SRO, is Rs 104 per sq.ft, effective from 1 July 2024. The land classification for this area is Mixed Special Type - III.

How the guideline value of Sri Lakshmi Nagar has changed

Over the years, the guideline value of Sri Lakshmi Nagar has seen several revisions. The 2012 revision set the value at Rs 100 per sq.ft, which was then reduced to Rs 67 per sq.ft in the 2017 revision. Following that, the value increased to Rs 100 per sq.ft in the 2023 revision, and currently, it stands at Rs 104 per sq.ft as per the 2024 revision. The register has no figures for the years 2002, 2003, and 2007 for this street.

From 2012 to 2017, there was a decrease of 33%, followed by a significant increase of 49% from 2017 to 2023. The overall change from 2012 to 2024 reflects a modest increase of 4% in the guideline value per sq.ft.

Guideline values in Kizhamoor

In addition to Sri Lakshmi Nagar, there are other streets in Kizhamoor under the Madurandakam SRO. The guideline values for these streets are as follows:

• Arul Murugan Nagar: Rs 103 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 104 per sq.ft, the total guideline value amounts to Rs 1,04,000. The stamp duty at 7% would be Rs 7,280, and the registration fee at 2% would be Rs 2,080, bringing the total to Rs 9,360. It is important to note that the duty is charged on the higher of the guideline value and the sale price. For further calculations, 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 Madurandakam Sub Registrar Office, located at No.53, Old Taluk Office Road, Maduranthakam-603306, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is crucial when buying or selling property in Kizhamoor, as it determines the minimum value at which the property can be registered. This value is used to calculate the stamp duty and registration fees that need to be paid during the transaction.

When a buyer approaches the registration office, the guideline value helps ensure that the transaction is recorded at a fair benchmark. This process aids in maintaining transparency in property transactions and ensures compliance with local regulations.

Frequently asked questions

What is the current guideline value of Sri Lakshmi Nagar?

The current guideline value of Sri Lakshmi Nagar is Rs 104 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 100 per sq.ft in 2012 to Rs 67 per sq.ft in 2017, then increased to Rs 100 per sq.ft in 2023, and is currently Rs 104 per sq.ft in 2024.

What is the land classification for Sri Lakshmi Nagar?

Sri Lakshmi Nagar is classified as Mixed Special Type - III.

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

For a 1,000 sq.ft plot, the total stamp duty would be Rs 7,280 and the registration fee would be Rs 2,080, totaling Rs 9,360 based on the current guideline value.

Which office handles registrations for Sri Lakshmi Nagar?

The Madurandakam Sub Registrar Office handles registrations for Sri Lakshmi Nagar, located at No.53, Old Taluk Office Road, Maduranthakam-603306, Chengalpattu registration zone.