Guideline Value for SRI LAKSHMI NAGAR

Sri Lakshmi Nagar guideline value

The current guideline value of Sri Lakshmi Nagar is Rs 150 per sq.ft, effective from 1 July 2024. This area is located in Athivakkam village under the Arani_Tiruvallur SRO and is classified as Residential Class IV Type - I.

How the guideline value of Sri Lakshmi Nagar has changed

According to the guideline value register, there are no figures for Sri Lakshmi Nagar for the years 2002, 2003, 2007, 2012, and 2017. The 2023 revision recorded a guideline value of Rs 150 per sq.ft, which remained unchanged in the 2024 revision, also at Rs 150 per sq.ft, indicating a change of +0% from 2023 to 2024.

In summary, the guideline value for Sri Lakshmi Nagar has been consistent at Rs 150 per sq.ft from 2023 to 2024. The absence of recorded figures for earlier years means that the current rate reflects the most recent assessments.

Guideline values in Athivakkam

In Athivakkam, there are four streets under the Arani_Tiruvallur SRO with a 2024 guideline value ranging from Rs 141 to Rs 150 per sq.ft, with the median value being Rs 150 per sq.ft. Sri Lakshmi Nagar's 2024 figure aligns with this median value.

• Sri Annai Nagar: Rs 141 per sq.ft (2024)
• Sri Sai Garden: Rs 150 per sq.ft (2024)
• J.V. Nagar: Rs 150 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 150 per sq.ft, the total guideline value would be Rs 1,50,000. The stamp duty at 7% would amount to Rs 10,500, and the registration fee at 2% would be Rs 3,000, making the total cost for these fees Rs 13,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use the stamp duty and registration fee calculator for more details on calculating these fees.

Which Sub Registrar Office covers Sri Lakshmi Nagar?

Sri Lakshmi Nagar falls under the jurisdiction of the Arani_Tiruvallur Sub Registrar Office, located at No.10, S.p Kovil Street, Arani, Ponneri(tk), Thiruvallur(dt) - 601 101, Chennai registration zone. To find your specific SRO, you can visit find your SRO.

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

The guideline value plays a crucial role during the registration process when buying or selling property in Athivakkam. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction.

When a property is registered, the stamp duty is calculated based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Sri Lakshmi Nagar?

The current guideline value of Sri Lakshmi Nagar is Rs 150 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value for Sri Lakshmi Nagar has remained at Rs 150 per sq.ft from 2023 to 2024. There are no recorded figures for the years 2002, 2003, 2007, 2012, and 2017.

What are the guideline values of other streets in Athivakkam?

In Athivakkam, the guideline values for other streets include Sri Annai Nagar at Rs 141 per sq.ft, while both Sri Sai Garden and J.V. Nagar are at Rs 150 per sq.ft for 2024.

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

Stamp duty for properties in Sri Lakshmi Nagar is calculated based on the higher of the guideline value or the sale price. For example, a 1,000 sq.ft plot at the current guideline value would incur a stamp duty of Rs 10,500.

Where can I find the Sub Registrar Office for Sri Lakshmi Nagar?

The Sub Registrar Office covering Sri Lakshmi Nagar is the Arani_Tiruvallur SRO, located at No.10, S.p Kovil Street, Arani, Ponneri(tk), Thiruvallur(dt) - 601 101, Chennai registration zone.