Guideline Value for SRI LAKSHMI NARASHIMA NAGAR

Sri Lakshmi Narashima Nagar guideline value

The current guideline value of Sri Lakshmi Narashima Nagar is Rs 250 per sq.ft, effective from 1 July 2024. This area is located in Sasithrampakkam village and falls under the Chengleput Joint II SRO. The land classification for this street is Residential Class II Type - I.

How the guideline value of Sri Lakshmi Narashima Nagar has changed

The guideline value for Sri Lakshmi Narashima Nagar has undergone several revisions over the years. In the 2012 revision, the value was set at Rs 250 per sq.ft. This remained unchanged in the 2017 revision, but prior to that, in 2017, it had decreased to Rs 167 per sq.ft. The 2023 revision maintained the value at Rs 250 per sq.ft, and this figure was also retained in the 2024 revision, showing no change from the previous year.

It is important to note that there are no figures available for the years 2002, 2003, and 2007 in the register for this street. The overall change from the 2012 to the 2024 revision shows no increase, with the value remaining at Rs 250 per sq.ft throughout this period.

Guideline values in Sasithrampakkam

Sasithrampakkam village has a total of 12 streets under the Chengleput Joint II SRO that carry a guideline value for 2024, ranging from Rs 250 to Rs 1,000 per sq.ft. The median value for these streets is Rs 250 per sq.ft, making the guideline value of Sri Lakshmi Narashima Nagar equal to this median.

• Sri Kamala Puram: Rs 250 per sq.ft (2024)
• Subamangalanagar: Rs 250 per sq.ft (2024)
• Subha Mangala Avenue Phase -I: Rs 250 per sq.ft (2024)
• Subha Mangala Avenue Phase -II: Rs 250 per sq.ft (2024)
• Subha Mangala Avenue Phase - III: Rs 250 per sq.ft (2024)
• Sanjeevi Nagar: Rs 250 per sq.ft (2024)

Stamp duty and registration fee for property in Sri Lakshmi Narashima Nagar

For a 1,000 sq.ft plot at the current rate of Rs 250 per sq.ft, the guideline value would be Rs 2,50,000. The stamp duty at 7% would amount to Rs 17,500, and the registration fee at 2% would be Rs 5,000, totaling Rs 22,500. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Sri Lakshmi Narashima Nagar?

The Sub Registrar Office that covers Sri Lakshmi Narashima Nagar is the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002, in the Chengalpattu registration zone. You can find your SRO for more details.

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

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

When a property is sold, the guideline value is used to calculate the applicable fees, ensuring that both the buyer and seller are aware of the financial obligations involved in the registration process. This helps maintain transparency and standardization in property transactions.

Frequently asked questions

What is the current guideline value of Sri Lakshmi Narashima Nagar?

The current guideline value of Sri Lakshmi Narashima Nagar is Rs 250 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has remained at Rs 250 per sq.ft from 2012 to 2024, with a previous decrease to Rs 167 per sq.ft in 2017. There are no figures available for the years 2002, 2003, and 2007.

What is the land classification for Sri Lakshmi Narashima Nagar?

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

What are the stamp duty and registration fees for property in this area?

For a 1,000 sq.ft plot valued at Rs 250 per sq.ft, the total stamp duty and registration fees would amount to Rs 22,500, which includes Rs 17,500 for stamp duty and Rs 5,000 for the registration fee.

Where can I find the Sub Registrar Office for this area?

The Chengleput Joint II Sub Registrar Office is located at 10, Kancheepuram Main Road, Chengalpattu 603 002. You can find more details by visiting the provided link.