Guideline Value for SRI LAKSHMI NARAYANA NAGAR PHASE -I

Sri Lakshmi Narayana Nagar Phase -I guideline value

The current guideline value for Sri Lakshmi Narayana Nagar Phase -I is Rs 300 per sq.ft. This area is located in Maele Manapakkam village and falls under the Chengleput Joint II SRO. The land classification for this street is Residential Class II Type - III.

How the guideline value of Sri Lakshmi Narayana Nagar Phase -I has changed

The guideline value for Sri Lakshmi Narayana Nagar Phase -I has undergone several revisions over the years. The 2012 revision set the value at Rs 300 per sq.ft, which remained unchanged until the 2017 revision, where it decreased to Rs 201 per sq.ft, marking a decline of 33%. However, the value increased significantly by 49% to Rs 300 per sq.ft in the 2023 revision, and it has remained the same in the 2024 revision, with no change of 0% from 2023 to 2024.

There are no figures available for the years 2002, 2003, and 2007 for this street. Therefore, the revisions with figures available are limited to 2012, 2017, 2023, and 2024.

Guideline values in Maele Manapakkam

In Maele Manapakkam, there are 14 streets under the Chengleput Joint II SRO that carry a 2024 guideline value ranging from Rs 200 to Rs 450 per sq.ft, with a median value of Rs 301 per sq.ft. The guideline value for Sri Lakshmi Narayana Nagar Phase -I is below this median.

• Sri Lakshmi Narayanagar Phase -II: Rs 300 per sq.ft (2024)
• Sri Jayalakshmi Nagar: Rs 301 per sq.ft (2024)
• Sri Ragavendra Nagar: Rs 301 per sq.ft (2024)
• Sri Ganapathi Nagar: Rs 200 per sq.ft (2024)
• Sri Balaji Avenue: Rs 301 per sq.ft (2024)
• Sri Arunachala City: Rs 301 per sq.ft (2024)

Stamp duty and registration fee for property in Sri Lakshmi Narayana Nagar Phase -I

For a 1,000 sq.ft plot at the current guideline value of Rs 300 per sq.ft, the total guideline value amounts to Rs 3,00,000. The stamp duty at 7% would be Rs 21,000, and the registration fee at 2% would be Rs 6,000, bringing the total to Rs 27,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

You can also use our stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Sri Lakshmi Narayana Nagar Phase -I?

The Chengleput Joint II Sub Registrar Office covers Sri Lakshmi Narayana Nagar Phase -I. The office is located at 10, Kancheepuram Main Road, Chengalpattu 603 002, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor during the registration of property transactions in Maele Manapakkam. It serves as a benchmark for calculating the stamp duty and registration fees that buyers must pay when purchasing property in this area.

When a property is sold, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties. This ensures that the registration process is consistent and transparent for all property transactions.

Frequently asked questions

What is the current guideline value for Sri Lakshmi Narayana Nagar Phase -I?

The current guideline value for Sri Lakshmi Narayana Nagar Phase -I is Rs 300 per sq.ft, effective from the 2024 revision.

How has the guideline value changed over the years?

The guideline value has seen several changes: it was Rs 300 per sq.ft in 2012, decreased to Rs 201 per sq.ft in 2017, increased back to Rs 300 per sq.ft in 2023, and remains at Rs 300 per sq.ft in 2024.

What is the land classification for Sri Lakshmi Narayana Nagar Phase -I?

The land classification for Sri Lakshmi Narayana Nagar Phase -I is Residential Class II Type - III.

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

For a property valued at Rs 3,00,000, the stamp duty would be Rs 21,000, and the registration fee would be Rs 6,000, totaling Rs 27,000. These fees are calculated based on the higher of the guideline value or the sale price.

Which office handles registrations for Sri Lakshmi Narayana Nagar Phase -I?

The Chengleput Joint II Sub Registrar Office handles registrations for Sri Lakshmi Narayana Nagar Phase -I, located at 10, Kancheepuram Main Road, Chengalpattu 603 002.