Guideline Value for SRI LAKSHMI NAGAR

Sri Lakshmi Nagar guideline value

The current guideline value of Sri Lakshmi Nagar is Rs 750 per sq.ft, effective from 1 July 2024. This area is located in Thiruninravur-A village and falls under the Avadi SRO. The land classification for this street is Residential Class II Type - III.

How the guideline value of Sri Lakshmi Nagar has changed

The guideline value for Sri Lakshmi Nagar has seen significant changes over the years. From the 2017 revision, where it was Rs 469 per sq.ft, it increased to Rs 700 per sq.ft in 2023, marking a 49% rise. The latest revision in 2024 set the value at Rs 750 per sq.ft, reflecting a 7% increase from the previous year.

Overall, from 2017 to 2024, the guideline value has increased by 60%. It is important to note that there are no figures available for the revisions in 2002, 2003, 2007, and 2012 for this street.

Guideline values in Thiruninravur-A

In Thiruninravur-A, there are 382 streets under the Avadi SRO that carry a 2024 guideline value, ranging from Rs 440 to Rs 2,750 per sq.ft. The median value for these streets is Rs 750 per sq.ft, making the guideline value for Sri Lakshmi Nagar equal to this median.

• Sri Nagar Kuselar St: Rs 440 per sq.ft (2024)
• Sri Nagar Narasimman St: Rs 440 per sq.ft (2024)
• Sri Nagar & Streets & Extn: Rs 440 per sq.ft (2024)
• Sri Nagar Thirumangai Mannar St: Rs 440 per sq.ft (2024)
• Sri Nagar Thiruvika Raman St: Rs 440 per sq.ft (2024)
• Sri Jayaram Nagar Annexue, Gnanambal Colony: Rs 750 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 750 per sq.ft, the total guideline value would be Rs 7,50,000. The stamp duty at 7% would amount to Rs 52,500, and the registration fee at 2% would be Rs 15,000, bringing the total fees to Rs 67,500. 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 information.

Which Sub Registrar Office covers Sri Lakshmi Nagar?

The Sub Registrar Office that covers Sri Lakshmi Nagar is the Avadi Sub Registrar Office, located at Plot No.145, Vii Street, Modern City, Thandurai Village, Avadi Taluk, Tiruvallur District, Chennai registration zone. You can find your SRO for more details.

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

The guideline value is an essential factor in property transactions in Thiruninravur-A. It serves as a reference point for determining the stamp duty and registration fees during the registration process. Buyers and sellers must consider this value to ensure compliance with local regulations.

When a property is sold, the guideline value is used to calculate the applicable duties and fees, which are based on the higher of the guideline value or the sale price. This ensures that the government receives appropriate revenue from 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 750 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed since 2017?

Since 2017, the guideline value has increased by 60%, from Rs 469 per sq.ft to Rs 750 per sq.ft in 2024.

Are there any years without a guideline value for Sri Lakshmi Nagar?

Yes, the register has no figures for the years 2002, 2003, 2007, and 2012 for Sri Lakshmi Nagar.

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

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

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

The Sub Registrar Office for Sri Lakshmi Nagar is the Avadi Sub Registrar Office, located at Plot No.145, Vii Street, Modern City, Thandurai Village, Avadi Taluk, Tiruvallur District, Chennai registration zone.