Guideline Value for SRI LAKSHMI NARAYANAN NAGAR

Sri Lakshmi Narayanan Nagar guideline value

The current guideline value of Sri Lakshmi Narayanan Nagar is Rs 500 per sq.ft, effective from 1 July 2024. This area is located in Vattampakkam village, under the jurisdiction of the Sunguvarchattram SRO. The land classification for this street is Commercial Class I Type - II.

How the guideline value of Sri Lakshmi Narayanan Nagar has changed

In the 2012 revision, the guideline value was set at Rs 500 per sq.ft. This value remained unchanged until the 2017 revision, where it decreased to Rs 335 per sq.ft. However, from 2017 to 2023, the value increased by 49%, bringing it back to Rs 500 per sq.ft. The 2023 revision maintained this value, and as of the 2024 revision, the guideline value remains at Rs 500 per sq.ft, indicating no change from the previous year.

The register has no figures for the years 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has not changed, remaining at Rs 500 per sq.ft.

Guideline values in Vattampakkam

In Vattampakkam, there are 33 streets under the Sunguvarchattram SRO that have a 2024 guideline value ranging from Rs 200 to Rs 1,790 per sq.ft, with a median value of Rs 250 per sq.ft. The guideline value for Sri Lakshmi Narayanan Nagar is above this median.

• Sri KamatchiAmman Nagar: Rs 250 per sq.ft (2024)
• Sri Devi Nagar: Rs 300 per sq.ft (2024)
• Sri Avenue: Rs 448 per sq.ft (2024)
• Shri Sheshadri Brindhavanam Phase I: Rs 500 per sq.ft (2024)
• Swarna Bhoomi: Rs 448 per sq.ft (2024)
• Thulukanathamman Kovil Streer (colony): Rs 200 per sq.ft (2024)

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

For a 1,000 sq.ft plot at the current rate of Rs 500 per sq.ft, the guideline value amounts to Rs 5,00,000. The stamp duty at 7% would be Rs 35,000, and the registration fee at 2% would be Rs 10,000, totaling Rs 45,000. 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 details.

Which Sub Registrar Office covers Sri Lakshmi Narayanan Nagar?

The Sri Lakshmi Narayanan Nagar area falls under the Sunguvarchattram Sub Registrar Office, located at Vadivamal Nagar Kandigai Road Caparo Company Opp, Sunguvarchatram, Chengalpattu registration zone. For more information, you can find your SRO.

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

The guideline value is an essential factor in the registration process when buying or selling property in Vattampakkam. It serves as a benchmark for determining the stamp duty and registration fees applicable during the transaction.

When a property is registered, the buyer must pay stamp duty based on the guideline value or the sale price, whichever is higher. This ensures that the government receives appropriate revenue from property transactions.

Frequently asked questions

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

The current guideline value of Sri Lakshmi Narayanan Nagar is Rs 500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen changes from Rs 500 per sq.ft in 2012 to Rs 335 per sq.ft in 2017, then back to Rs 500 per sq.ft in 2023 and 2024. Overall, from 2012 to 2024, the value has remained the same.

What are the guideline values of other streets in Vattampakkam?

Other streets in Vattampakkam have varying guideline values ranging from Rs 200 to Rs 1,790 per sq.ft. Sri Lakshmi Narayanan Nagar's value is above the median of Rs 250 per sq.ft.

What are the stamp duty and registration fees for a property here?

For a property valued at Rs 5,00,000, the total stamp duty and registration fees would amount to Rs 45,000, which includes a stamp duty of Rs 35,000 and a registration fee of Rs 10,000.

Which office handles registrations for Sri Lakshmi Narayanan Nagar?

The Sunguvarchattram Sub Registrar Office handles registrations for Sri Lakshmi Narayanan Nagar, located at Vadivamal Nagar Kandigai Road Caparo Company Opp, Sunguvarchatram, Chengalpattu registration zone.