Guideline Value for SRI LAKSHMI NAGAR

Sri Lakshmi Nagar guideline value

The current guideline value of Sri Lakshmi Nagar is Rs 550 per sq.ft, effective from 1 July 2024. This street is located in Vallur village under the Thiruvottiyur 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 2017 revision recorded a guideline value of Rs 335 per sq.ft. This increased to Rs 500 per sq.ft in the 2023 revision, marking a significant rise of 49%. The most recent revision in 2024 further increased the value to Rs 550 per sq.ft, reflecting a 10% increase from the previous year.

Overall, from 2017 to 2024, the guideline value has risen by 64%. It is important to note that the register has no figures for the years 2002, 2003, 2007, and 2012 for this street.

Guideline values in Vallur

In Vallur, there are 75 streets under the Thiruvottiyur SRO that carry a 2024 guideline value ranging from Rs 220 to Rs 551 per sq.ft, with the median value being Rs 220 per sq.ft. The guideline value of Sri Lakshmi Nagar is above this median.

• Sri Lakshmi Avenue: Rs 550 per sq.ft (2024)
• Sri Mahalakshmi Nagar: Rs 220 per sq.ft (2024)
• Sri Malli Nagar: Rs 220 per sq.ft (2024)
• Sri Ganesh Garden: Rs 220 per sq.ft (2024)
• Sri Balaji Nagar: Rs 220 per sq.ft (2024)
• Sri Sakthi Sairam Nagar: Rs 220 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 550 per sq.ft, the total guideline value amounts to Rs 5,50,000. The stamp duty at 7% would be Rs 38,500, and the registration fee at 2% would be Rs 11,000, bringing the total fees to Rs 49,500. 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?

Sri Lakshmi Nagar falls under the Thiruvottiyur Sub Registrar Office, located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019. To find your SRO, you can visit find your SRO.

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

The guideline value is a crucial factor in the registration process of property transactions in Vallur. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the sale or purchase of property.

When buying or selling property, the guideline value helps ensure that the transaction is recorded accurately and that the appropriate taxes are collected. Buyers should be aware of the current guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Sri Lakshmi Nagar?

The current guideline value of Sri Lakshmi Nagar is Rs 550 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 335 per sq.ft in 2017 to Rs 500 per sq.ft in 2023, and then to Rs 550 per sq.ft in 2024. This represents a total increase of 64% from 2017 to 2024.

What are the other streets in Vallur with their guideline values?

Other streets in Vallur include Sri Lakshmi Avenue at Rs 550 per sq.ft, and several streets such as Sri Mahalakshmi Nagar, Sri Malli Nagar, Sri Ganesh Garden, Sri Balaji Nagar, and Sri Sakthi Sairam Nagar, all at Rs 220 per sq.ft.

What fees are associated with buying property in Sri Lakshmi Nagar?

When buying property in Sri Lakshmi Nagar, the stamp duty is 7% of the guideline value, and the registration fee is 2%. For example, for a 1,000 sq.ft plot, the total fees would amount to Rs 49,500.

Which Sub Registrar Office handles registrations for Sri Lakshmi Nagar?

The Thiruvottiyur Sub Registrar Office handles registrations for Sri Lakshmi Nagar, located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019.