Guideline Value for SRI LAKSHMI NAGAR

Sri Lakshmi Nagar guideline value

The current guideline value of Sri Lakshmi Nagar is Rs 400 per sq.ft, effective from 1 July 2024. This area is located in Vakkupattu A village, under the Walajabad SRO, classified as Residential Class I Type - III.

How the guideline value of Sri Lakshmi Nagar has changed

In the 2017 revision, the guideline value was Rs 268 per sq.ft. It remained unchanged at Rs 400 per sq.ft in the 2023 revision and continues at the same rate in the 2024 revision, indicating a 49% increase from 2017 to 2023 and an overall increase of 49% from 2017 to 2024. The register has no figures for the years 2002, 2003, 2007, and 2012 for this street.

Thus, from 2017 to 2024, the guideline value has seen significant stability at the Rs 400 per sq.ft mark after the initial increase in 2017. The absence of earlier figures indicates that the current rate reflects the latest assessment without historical fluctuations for those years.

Guideline values in Vakkupattu A

In Vakkupattu A, 14 streets under the Walajabad SRO have a 2024 guideline value ranging from Rs 400 to Rs 2,090 per sq.ft, with a median value of Rs 500 per sq.ft. Sri Lakshmi Nagar's 2024 figure is below this median.

• Sri Sairam Township: Rs 500 per sq.ft (2024)
• Sai Baba Nagar: Rs 400 per sq.ft (2024)
• Tierra: Rs 2,090 per sq.ft (2024)
• Rpd Village: Rs 500 per sq.ft (2024)
• Unnamed Layout: Rs 400 per sq.ft (2024)
• Un Named Layout (Farmsite) S.No:822/2c,2d,2e,2f,2g,2h,2j,2k,2l: Rs 400 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 rate of Rs 400 per sq.ft, the guideline value amounts to Rs 4,00,000. The stamp duty at 7% would be Rs 28,000, and the registration fee at 2% would be Rs 8,000, making the total Rs 36,000. Please note that duty is charged on the higher of the guideline value or the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Sri Lakshmi Nagar?

Sri Lakshmi Nagar falls under the jurisdiction of 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 Vakkupattu A

The guideline value is a crucial factor during the registration process of property transactions in Vakkupattu A. It serves as a benchmark for determining the stamp duty and registration fees applicable when buying or selling property in the area.

When a property is registered, the guideline value is assessed to ensure that the transaction is recorded accurately. Buyers and sellers should be aware that the guideline value may influence the final costs associated with 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 400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has remained at Rs 400 per sq.ft since the 2023 revision, with a 49% increase from Rs 268 per sq.ft in 2017. There are no figures for the years 2002, 2003, 2007, and 2012 for this street.

What is the land classification of Sri Lakshmi Nagar?

Sri Lakshmi Nagar is classified as Residential Class I Type - III, indicating its designation for residential development.

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

For a property valued at Rs 4,00,000, the stamp duty would be Rs 28,000 and the registration fee would be Rs 8,000, totaling Rs 36,000. This is calculated based on the guideline value.

Which office handles property registrations for Sri Lakshmi Nagar?

The Walajabad Sub Registrar Office is responsible for property registrations in Sri Lakshmi Nagar, located at Sriperumbudur Road, Walajabad-631 605, Chengalpattu registration zone.