Guideline Value for SRI LAKSHMI NAGAR

Sri Lakshmi Nagar guideline value

The current guideline value of Sri Lakshmi Nagar, located in Manampathi village under the Uthiramerur SRO, is Rs 302 per sq.ft. This value is effective from the 1st of July 2024 and falls under the Residential Class III Type - III land classification.

How the guideline value of Sri Lakshmi Nagar has changed

In the 2017 revision, the guideline value for Sri Lakshmi Nagar was set at Rs 201 per sq.ft. This figure remained unchanged in the 2023 revision, where it was still Rs 201 per sq.ft. However, in the 2024 revision, the value increased to Rs 302 per sq.ft, marking a 50% increase from the 2017 figure. The 2023 to 2024 revision showed no change, maintaining the value at Rs 302 per sq.ft.

It is important to note that there are no figures available for the revisions in 2002, 2003, 2007, and 2012 for this street. Overall, from 2017 to 2024, the guideline value has increased by 50%.

Guideline values in Manampathi

In Manampathi, there are 13 streets under the Uthiramerur SRO that carry a 2024 guideline value, ranging from Rs 201 to Rs 329 per sq.ft. The median value for these streets is Rs 300 per sq.ft, placing Sri Lakshmi Nagar's 2024 figure above this median.

• Sri Ganapathy Nagar: Rs 201 per sq.ft (2024)
• Thendral Nagar: Rs 302 per sq.ft (2024)
• Madha Nagar - II: Rs 302 per sq.ft (2024)
• Balaji Nagar: Rs 302 per sq.ft (2024)
• Anu Avenue: Rs 263 per sq.ft (2024)
• Sri Ganapathy Nagar Extension: Rs 201 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 302 per sq.ft, the total guideline value amounts to Rs 3,02,000. The stamp duty is calculated at 7%, resulting in Rs 21,140, while the registration fee at 2% amounts to Rs 6,040. Therefore, the total cost for stamp duty and registration fee together is Rs 27,180. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator for further calculations.

Which Sub Registrar Office covers Sri Lakshmi Nagar?

Sri Lakshmi Nagar falls under the Uthiramerur Sub Registrar Office, located at No.16, Sundara Vardharaja Perumal Koil Sannathi Street, Uthiramerur- 603406, Chengalpattu registration zone. To find your SRO, you can visit find your SRO.

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

The guideline value is a critical factor in the registration process when buying or selling property in Manampathi. It serves as the benchmark for calculating stamp duty and registration fees, which are mandatory for property transactions.

When a property is registered, the guideline value ensures that the government receives the appropriate revenue from the transaction. Buyers should be aware that the stamp duty is charged on the higher of the guideline value or the sale price, ensuring that all transactions are fairly assessed.

Frequently asked questions

What is the current guideline value of Sri Lakshmi Nagar?

The current guideline value of Sri Lakshmi Nagar is Rs 302 per sq.ft, effective from July 1, 2024.

How has the guideline value changed over the years?

Since the 2017 revision, the guideline value has increased by 50%, from Rs 201 per sq.ft to Rs 302 per sq.ft in 2024. The value remained unchanged between 2023 and 2024.

What is the land classification for Sri Lakshmi Nagar?

Sri Lakshmi Nagar is classified as Residential Class III Type - III. This classification influences the guideline value assigned to the property.

Where can I find the Uthiramerur Sub Registrar Office?

The Uthiramerur Sub Registrar Office is located at No.16, Sundara Vardharaja Perumal Koil Sannathi Street, Uthiramerur- 603406, Chengalpattu registration zone.

How is stamp duty calculated for properties in Sri Lakshmi Nagar?

Stamp duty for properties in Sri Lakshmi Nagar is calculated at 7% of the guideline value, while the registration fee is charged at 2%. The total cost is based on the higher of the guideline value or the sale price.