Guideline Value for SRI LAKSHMI NAGAR

Sri Lakshmi Nagar guideline value

The current guideline value of Sri Lakshmi Nagar is Rs 300 per sq.ft, effective from 1 July 2024. This area is located in Moosivakkam village under the Madurandakam Sub Registrar Office (SRO) and is classified as Mixed Type - I land.

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 300 per sq.ft, which remained unchanged until the 2017 revision, where it dropped to Rs 201 per sq.ft. However, from 2017 to 2023, the value increased significantly by 49% to reach Rs 300 per sq.ft again. The 2023 revision maintained this value, and as of the 2024 revision, it remains at Rs 300 per sq.ft, indicating no change from the previous year.

Notably, there are no figures available for the revisions in 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has not changed, remaining at Rs 300 per sq.ft.

Guideline values in Moosivakkam

Currently, there are no specific village figures available for Moosivakkam. Sri Lakshmi Nagar is the only street mentioned under the Madurandakam SRO. There are no other streets in Moosivakkam 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 300 per sq.ft, the total guideline value amounts to Rs 3,00,000. The stamp duty at 7% would be Rs 21,000, and the registration fee at 2% would be Rs 6,000, making the total charges Rs 27,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. For more details, 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 Moosivakkam

The guideline value plays a crucial role during the registration of property transactions in Moosivakkam. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid when a property is bought or sold.

When selling a property, the seller must ensure that the sale price is at least equal to the guideline value to avoid any discrepancies during registration. Buyers should be aware that the higher of the guideline value or the sale price will be used to calculate the applicable duties and fees.

Frequently asked questions

What is the current guideline value of Sri Lakshmi Nagar?

The current guideline value of Sri Lakshmi Nagar is Rs 300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has remained at Rs 300 per sq.ft from 2012 to 2024, with a drop to Rs 201 per sq.ft in 2017, followed by a significant increase back to Rs 300 per sq.ft in 2023.

What is the stamp duty rate for properties in Sri Lakshmi Nagar?

The stamp duty rate for properties in Sri Lakshmi Nagar is 7% of the guideline value or sale price, whichever is higher.

Where is the Sub Registrar Office for Sri Lakshmi Nagar located?

The Madurandakam Sub Registrar Office is located at No.53, Old Taluk Office Road, Maduranthakam-603306, Chengalpattu registration zone.

Is there any guideline value data for previous revisions?

There are no figures available in the register for the revisions in 2002, 2003, and 2007 for Sri Lakshmi Nagar.