Guideline Value for SRI VARALAKSHMI NAGAR

Sri Varalakshmi Nagar guideline value

The current guideline value of Sri Varalakshmi Nagar, located in Kavanur village, is Rs 600 per sq.ft, effective from the 2024 revision. This area falls under the Gooduvancheri SRO and is classified as Residential Class I Type - I.

How the guideline value of Sri Varalakshmi Nagar has changed

The guideline value for Sri Varalakshmi Nagar has seen several revisions over the years. In 2012, the value was set at Rs 600 per sq.ft, which remained unchanged in the subsequent revision in 2017, where it was still Rs 600 per sq.ft. However, prior to that, in 2017, the value had increased significantly by 49% from Rs 402 per sq.ft in 2012. There are no figures available for the years 2002, 2003, and 2007 for this street.

In the most recent revisions, the guideline value remained stable at Rs 600 per sq.ft for both the 2023 and 2024 revisions, indicating no change between these two years. Overall, from 2012 to 2024, the guideline value has not changed, remaining at Rs 600 per sq.ft.

Guideline values in Kavanur

Kavanur village has a total of 109 streets under the Gooduvancheri SRO, with guideline values ranging from Rs 500 to Rs 2,239 per sq.ft. The median guideline value in Kavanur is Rs 800 per sq.ft, placing Sri Varalakshmi Nagar's 2024 figure below this median.

• Sri Varalakshmi Nagar Extension: Rs 1,000 per sq.ft (2024)
• Sri Vigneshwarar Nagar: Rs 600 per sq.ft (2024)
• Sri Sai Santhi Nagar Phase -II: Rs 1,000 per sq.ft (2024)
• Sri Sai Santhi Nagar Phase -I: Rs 670 per sq.ft (2024)
• Sri Sai Nagar: Rs 800 per sq.ft (2024)
• Sri Sai Baba Nagar: Rs 700 per sq.ft (2024)

Stamp duty and registration fee for property in Sri Varalakshmi Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 600 per sq.ft, the total guideline value would be Rs 6,00,000. The stamp duty charged at 7% would amount to Rs 42,000, while the registration fee at 2% would be Rs 12,000, bringing the total to Rs 54,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Sri Varalakshmi Nagar?

The Sub Registrar Office that covers Sri Varalakshmi Nagar is the Gooduvancheri Sub Registrar Office, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvancheri-603202, Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value plays a crucial role during property registration in Kavanur. It is used to calculate the stamp duty and registration fees that buyers must pay when purchasing property. The guideline value ensures that the government receives the appropriate revenue from property transactions.

When selling property, the guideline value helps establish a baseline for the sale price, ensuring that the sale price is at least equal to or greater than the guideline value. This process helps maintain transparency and fairness in property transactions.

Frequently asked questions

What is the current guideline value of Sri Varalakshmi Nagar?

The current guideline value of Sri Varalakshmi Nagar is Rs 600 per sq.ft, effective from the 2024 revision.

How has the guideline value changed over the years?

Since 2012, the guideline value has seen fluctuations; it was Rs 600 per sq.ft in 2012, remained the same in 2017, and has also stayed at Rs 600 per sq.ft in 2023 and 2024. The only significant change was a 49% increase from Rs 402 per sq.ft in 2012 to Rs 600 per sq.ft in 2017.

What is the land classification for Sri Varalakshmi Nagar?

Sri Varalakshmi Nagar is classified as Residential Class I Type - I, indicating it is designated for residential purposes.

Where can I find the registration office for Sri Varalakshmi Nagar?

The registration office for Sri Varalakshmi Nagar is the Gooduvancheri Sub Registrar Office, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvancheri-603202, Chengalpattu registration zone.

How is the stamp duty calculated for property in Sri Varalakshmi Nagar?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at the guideline value of Rs 600 per sq.ft, the total guideline value would be Rs 6,00,000, leading to a stamp duty of Rs 42,000 at 7%.