Guideline Value for SRI VIJAYALAKSHMI NAGAR

Sri Vijayalakshmi Nagar guideline value

The current guideline value of Sri Vijayalakshmi Nagar, located in Karunakacherry village under the Salavakkam SRO, is Rs 150 per sq.ft, effective from 1 July 2024. The land classification for this area is Residential Class I Type - II.

How the guideline value of Sri Vijayalakshmi Nagar has changed

Over the years, the guideline value for Sri Vijayalakshmi Nagar has seen several revisions. The 2012 revision set the value at Rs 150 per sq.ft, which remained unchanged in the 2023 revision. The 2017 revision marked a decrease to Rs 100 per sq.ft, a 33% drop from the previous figure. Following this, the value increased by 50% to Rs 150 per sq.ft in the 2023 revision and has remained the same in the 2024 revision.

It is important to note that 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 not changed, remaining at Rs 150 per sq.ft.

Guideline values in Karunakacherry

In Karunakacherry village, there are 10 streets under the Salavakkam SRO that carry a 2024 guideline value ranging from Rs 100 to Rs 200 per sq.ft. The median guideline value for these streets is Rs 100 per sq.ft, placing Sri Vijayalakshmi Nagar above this median.

• Subiksha Gardens: Rs 100 per sq.ft (2024)
• Sachin Nagar Extension: Rs 100 per sq.ft (2024)
• Sachin Nagar: Rs 100 per sq.ft (2024)
• New Laural Nagar Extension: Rs 151 per sq.ft (2024)
• New Laural Nagar: Rs 151 per sq.ft (2024)
• Muthamil Nagar: Rs 100 per sq.ft (2024)

Stamp duty and registration fee for property in Sri Vijayalakshmi Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 150 per sq.ft, the total guideline value amounts to Rs 1,50,000. The stamp duty at 7% would be Rs 10,500, and the registration fee at 2% would be Rs 3,000, leading to a total of Rs 13,500. It is important to note that duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Sri Vijayalakshmi Nagar?

The Sub Registrar Office that covers Sri Vijayalakshmi Nagar is the Salavakkam Sub Registrar Office, located at 2/1a, Thottakkara Street, Salavakkam, 603 107, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role during the registration of property in Karunakacherry. It is used to determine the applicable stamp duty and registration fees, ensuring that the transaction is recorded at a value that reflects the official rates set by the government.

When buying or selling property, it is essential to be aware of the guideline value, as it affects the overall cost of registration. Buyers should consider this value when negotiating sale prices to ensure compliance with local regulations.

Frequently asked questions

What is the current guideline value of Sri Vijayalakshmi Nagar?

The current guideline value of Sri Vijayalakshmi Nagar is Rs 150 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has remained at Rs 150 per sq.ft from 2012 to 2024, with a notable drop to Rs 100 per sq.ft in 2017 and a subsequent increase back to Rs 150 per sq.ft in 2023.

Are there any revisions without figures for Sri Vijayalakshmi Nagar?

Yes, the revisions for the years 2002, 2003, and 2007 have no figures available for Sri Vijayalakshmi Nagar.

What is the registration fee for property in Sri Vijayalakshmi Nagar?

The registration fee is typically 2% of the guideline value. For a property valued at Rs 1,50,000, the registration fee would be Rs 3,000.

Where can I find the Sub Registrar Office for Sri Vijayalakshmi Nagar?

The Sub Registrar Office for Sri Vijayalakshmi Nagar is located at 2/1a, Thottakkara Street, Salavakkam, 603 107, Chengalpattu registration zone.