Guideline Value for SRI LAKSHMI NAGAR

Sri Lakshmi Nagar guideline value

The current guideline value of Sri Lakshmi Nagar is Rs 350 per sq.ft, effective from 1 July 2024. This village falls under the Walajabad SRO and is classified as Residential Class I Type - I.

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 most recent revision in 2024 maintains the guideline value at Rs 350 per sq.ft, which is the same as the figure from the 2023 revision. Prior to that, the 2017 revision recorded a guideline value of Rs 234 per sq.ft, marking a 50% increase from 2017 to 2023.

There are no recorded figures for the years 2002, 2003, 2007, and 2012 for this street. Overall, from the 2017 revision to the 2024 revision, the guideline value has increased by 50%.

Guideline values in Uthukkadu - A

In Uthukkadu - A, there are 38 streets under the Walajabad SRO that carry a 2024 guideline value ranging from Rs 200 to Rs 800 per sq.ft, with a median value of Rs 350 per sq.ft. The guideline value for Sri Lakshmi Nagar is equal to this median.

• Sri Lakshmi Narasima Perumal Nagar: Rs 350 per sq.ft (2024)
• Sri Lakshmi Narasimma Perumal Nagar: Rs 350 per sq.ft (2024)
• Srinath Nagar: Rs 800 per sq.ft (2024)
• Sri Hari Nagar: Rs 300 per sq.ft (2024)
• Sri Rangiyam Karuppar Avenue: Rs 350 per sq.ft (2024)
• Sri Balaji Avenue: Rs 771 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 350 per sq.ft, the total guideline value amounts to Rs 3,50,000. The stamp duty at 7% would be Rs 24,500, and the registration fee at 2% would be Rs 7,000, leading to a total of Rs 31,500. Duty is charged on the guideline value or the sale price, whichever is higher. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Sri Lakshmi Nagar?

The Sub Registrar Office that covers Sri Lakshmi Nagar is the Walajabad Sub Registrar Office, located at Sriperumbudur Road, Walajabad-631 605, Chengalpattu registration zone. You can find your SRO for more information.

How the guideline value is used when you buy or sell in Uthukkadu - A

The guideline value is a crucial factor during property registration in Uthukkadu - A. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the property is not undervalued for tax purposes.

When buying or selling property, the guideline value helps in calculating the applicable stamp duty and registration fees. This ensures transparency in transactions and helps both buyers and sellers understand the financial implications of their property dealings.

Frequently asked questions

What is the current guideline value of Sri Lakshmi Nagar?

The current guideline value of Sri Lakshmi Nagar is Rs 350 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has remained at Rs 350 per sq.ft from the 2023 revision to the 2024 revision. It increased from Rs 234 per sq.ft in 2017 to Rs 350 per sq.ft in 2023, marking a 50% increase over that period.

What is the land classification of Sri Lakshmi Nagar?

Sri Lakshmi Nagar is classified as Residential Class I Type - I, indicating its suitability for residential purposes.

Where can I find the Walajabad Sub Registrar Office?

The Walajabad Sub Registrar Office is located at Sriperumbudur Road, Walajabad-631 605, Chengalpattu registration zone.

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

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 3,50,000, the stamp duty would be Rs 24,500 at a rate of 7%.