Guideline Value for SRI LAKSHMI PRIYA NAGAR

Sri Lakshmi Priya Nagar guideline value

The current guideline value of Sri Lakshmi Priya Nagar is Rs 100 per sq.ft, effective from 1 July 2024. This street is located in Mariputhur village under the Madurandakam Sub Registrar Office (SRO) and is classified as Residential Class I Type - I.

How the guideline value of Sri Lakshmi Priya Nagar has changed

The guideline value for Sri Lakshmi Priya Nagar has seen several revisions over the years. The most recent revision in 2024 set the value at Rs 100 per sq.ft, which is the same as the 2023 revision. Prior to that, in 2017, the value was Rs 47 per sq.ft, marking a significant increase of 113% from 2017 to 2023. In 2012, the guideline value was Rs 70 per sq.ft, which represented a decrease of 33% from the previous revision in 2017.

There are no figures available for the revisions in 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has increased by 43%.

Guideline values in Mariputhur

In Mariputhur, there are three streets under the Madurandakam SRO with a 2024 guideline value ranging from Rs 100 to Rs 104 per sq.ft. The median value for these streets is Rs 103 per sq.ft, placing Sri Lakshmi Priya Nagar's 2024 figure below that median.

• Sri Chelliamman Nagar: Rs 103 per sq.ft (2024)
• Robert Garden: Rs 104 per sq.ft (2024)

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

For a 1,000 sq.ft plot at the current guideline value of Rs 100 per sq.ft, the total guideline value would be Rs 1,00,000. The stamp duty at 7% would amount to Rs 7,000, and the registration fee at 2% would be Rs 2,000. Together, the total cost for stamp duty and registration fee would be Rs 9,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Sri Lakshmi Priya Nagar?

The Sub Registrar Office that covers Sri Lakshmi Priya Nagar is the Madurandakam Sub Registrar Office, located at No.53, Old Taluk Office Road, Maduranthakam-603306, Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value is a crucial factor when buying or selling property in Mariputhur, as it determines the minimum value at which a property can be registered. This value is used to calculate the stamp duty and registration fees, which are mandatory during the registration process.

When a property transaction occurs, the buyer must pay the 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 in the area.

Frequently asked questions

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

The current guideline value of Sri Lakshmi Priya Nagar is Rs 100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 70 per sq.ft in 2012 to Rs 100 per sq.ft in 2024, reflecting an overall increase of 43% over this period.

What is the registration office for Sri Lakshmi Priya Nagar?

The registration office for Sri Lakshmi Priya Nagar is the Madurandakam Sub Registrar Office, located at No.53, Old Taluk Office Road, Maduranthakam-603306, Chengalpattu registration zone.

What are the stamp duty and registration fees for property in Sri Lakshmi Priya Nagar?

For a property valued at Rs 1,00,000, the stamp duty would be Rs 7,000 and the registration fee would be Rs 2,000, totaling Rs 9,000.

Are there other streets in Mariputhur with different guideline values?

Yes, other streets in Mariputhur have different guideline values. For example, Sri Chelliamman Nagar has a guideline value of Rs 103 per sq.ft, while Robert Garden has a value of Rs 104 per sq.ft for 2024.