Guideline Value for SRILAKSHMI NAGAR

Srilakshmi Nagar guideline value

The current guideline value of Srilakshmi Nagar is Rs 825 per sq.ft, effective from 1 July 2024. This area is located in Tiruttani village, under the Thiruttani SRO, and is classified as Residential Class III Type - I.

How the guideline value of Srilakshmi Nagar has changed

In the 2017 revision, the guideline value was Rs 502 per sq.ft. This increased to Rs 750 per sq.ft in the 2023 revision, marking a significant change of 49%. The current 2024 revision sees the guideline value rise to Rs 825 per sq.ft, reflecting a 10% increase from the previous year.

Overall, from 2017 to 2024, the guideline value has increased by 64%. The register has no figures for the years 2002, 2003, 2007, and 2012 for this street.

Guideline values in Tiruttani

In Tiruttani, there are 160 streets under the Thiruttani SRO that carry a 2024 guideline value ranging from Rs 548 to Rs 1,540 per sq.ft. The median guideline value for these streets is Rs 825 per sq.ft, which is equal to the current guideline value of Srilakshmi Nagar.

• Sri Ganapathi Nagar: Rs 550 per sq.ft (2024)
• Sri Ranganathar Nagar: Rs 550 per sq.ft (2024)
• Stwerdpettai 1st Line: Rs 1,099 per sq.ft (2024)
• Stwerdpettai 2nd Street: Rs 1,099 per sq.ft (2024)
• Subramaniam Maistry Street: Rs 825 per sq.ft (2024)
• Subramanianagar 5th Street: Rs 1,099 per sq.ft (2024)

Stamp duty and registration fee for property in Srilakshmi Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 825 per sq.ft, the total guideline value amounts to Rs 8,25,000. The stamp duty at 7% would be Rs 57,750, and the registration fee at 2% would be Rs 16,500, bringing the total fees to Rs 74,250. Duty is charged on the guideline value or the sale price, whichever is higher. You can also use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Srilakshmi Nagar?

The Srilakshmi Nagar area is covered by the Thiruttani Sub Registrar Office, located at No.31, Old Taluk Office Compound, Kacheri Street Opposite, Gandhi Road Main, Thiruttani-631 209, Chennai registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role during the registration of property transactions in Tiruttani. It serves as a benchmark for determining the minimum price at which a property can be registered, ensuring transparency in property dealings.

When buyers and sellers engage in a transaction, the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Srilakshmi Nagar?

The current guideline value of Srilakshmi Nagar is Rs 825 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen significant changes, from Rs 502 per sq.ft in 2017 to Rs 750 per sq.ft in 2023, and now to Rs 825 per sq.ft in 2024. The overall increase from 2017 to 2024 is 64%.

What are the stamp duty and registration fees for property in Srilakshmi Nagar?

For a property valued at Rs 8,25,000, the stamp duty at 7% would be Rs 57,750, and the registration fee at 2% would be Rs 16,500, totaling Rs 74,250. These fees are based on the guideline value or the sale price, whichever is higher.

Which Sub Registrar Office covers Srilakshmi Nagar?

The Thiruttani Sub Registrar Office covers Srilakshmi Nagar. It is located at No.31, Old Taluk Office Compound, Kacheri Street Opposite, Gandhi Road Main, Thiruttani-631 209, Chennai registration zone.

What is the land classification for Srilakshmi Nagar?

Srilakshmi Nagar is classified as Residential Class III Type - I. This classification indicates the type of development and usage permitted in the area.