Guideline Value for SRI LAKSHMI NARASIMMAR NAGAR

Sri Lakshmi Narasimmar Nagar guideline value

The current guideline value of Sri Lakshmi Narasimmar Nagar is Rs 250 per sq.ft, effective from 1 July 2024. This village is located in Pazhayaseevaram -A under the Walajabad SRO, and it falls under the Residential Class II Type - I land classification.

How the guideline value of Sri Lakshmi Narasimmar Nagar has changed

The guideline value for Sri Lakshmi Narasimmar Nagar has remained consistent at Rs 250 per sq.ft from the 2023 revision to the 2024 revision, showing no change. Prior to this, the 2017 revision recorded a guideline value of Rs 167 per sq.ft, marking a 50% increase to the 2023 figure.

Overall, from the 2017 revision to the 2024 revision, the guideline value has increased by 50%. The register has no figures for the revisions in the years 2002, 2003, 2007, and 2012 for this street.

Guideline values in Pazhayaseevaram -A

In Pazhayaseevaram -A, there are 26 streets under the Walajabad SRO that carry a 2024 guideline value ranging from Rs 200 to Rs 500 per sq.ft. The median guideline value for these streets is Rs 350 per sq.ft, placing Sri Lakshmi Narasimmar Nagar's 2024 figure below that median.

• Sri Krishna Nagar: Rs 350 per sq.ft (2024)
• Sri Hari Avenue Ext - I: Rs 500 per sq.ft (2024)
• Sri Balaji Nagar: Rs 500 per sq.ft (2024)
• Sri Sai Nagar: Rs 350 per sq.ft (2024)
• Sri Arunachalacity Phase-IV: Rs 500 per sq.ft (2024)
• Sri Arunachala City Phase-III: Rs 200 per sq.ft (2024)

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

For a 1,000 sq.ft plot at the current rate of Rs 250 per sq.ft, the guideline value amounts to Rs 2,50,000. The stamp duty at 7% would be Rs 17,500, and the registration fee at 2% would be Rs 5,000, resulting in a total cost of Rs 22,500. It is important to note that duty is charged on the higher of the guideline value and the sale price.

You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Sri Lakshmi Narasimmar Nagar?

The Sub Registrar Office that covers Sri Lakshmi Narasimmar Nagar is the Walajabad Sub Registrar Office, located at Sriperumbudur Road, Walajabad-631 605, Chengalpattu registration zone. You can find your SRO for further assistance.

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

The guideline value plays a crucial role in the registration process of property transactions in Pazhayaseevaram -A. It is used to determine the stamp duty and registration fees that need to be paid during the transfer of property ownership.

When buying or selling property, it is essential to refer to the guideline value as it affects the overall cost involved in the transaction. Buyers and sellers should ensure they are 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 Narasimmar Nagar?

The current guideline value of Sri Lakshmi Narasimmar 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 unchanged at Rs 250 per sq.ft from 2023 to 2024. It increased from Rs 167 per sq.ft in 2017 to Rs 250 per sq.ft in 2023, reflecting a 50% increase overall from 2017 to 2024.

What is the land classification for Sri Lakshmi Narasimmar Nagar?

Sri Lakshmi Narasimmar Nagar falls under the Residential Class II Type - I land classification. This classification is important for understanding the usage and regulations applicable to the land.

What are the stamp duty and registration fees for property transactions?

The stamp duty is charged at 7% of the guideline value or the sale price, whichever is higher, while the registration fee is charged at 2%. For example, a 1,000 sq.ft plot at Rs 250 per sq.ft would incur a total of Rs 22,500 in fees.

Where is the Walajabad Sub Registrar Office located?

The Walajabad Sub Registrar Office is located at Sriperumbudur Road, Walajabad-631 605, Chengalpattu registration zone. This office handles the registration of properties in Sri Lakshmi Narasimmar Nagar.