Guideline Value for Sri Dhanalakshmi Nagar

Sri Dhanalakshmi Nagar guideline value

The current guideline value of Sri Dhanalakshmi Nagar is Rs 200 per sq.ft, effective from 1 July 2024. This area is located in Eraiyur village under the Sriperumpudur SRO and is classified as Residential Class II Type - I.

How the guideline value of Sri Dhanalakshmi Nagar has changed

The guideline value for Sri Dhanalakshmi Nagar has undergone several revisions over the years. In the 2007 revision, the value was set at Rs 32 per sq.ft, which increased significantly to Rs 200 per sq.ft in the 2012 revision. However, in the 2017 revision, the value decreased to Rs 134 per sq.ft. The 2023 revision maintained the value at Rs 200 per sq.ft, and this remains unchanged in the 2024 revision.

From the 2017 to 2023 revision, there was a notable increase of 49%. The overall change from the 2007 revision to the 2024 revision reflects a substantial increase of 525%. It is important to note that the register has no figures for the years 2002 and 2003 for this street.

Guideline values in Eraiyur

In Eraiyur, there are 35 streets under the Sriperumpudur SRO that carry a 2024 guideline value ranging from Rs 100 to Rs 471 per sq.ft, with the median value being Rs 200 per sq.ft. The guideline value of Sri Dhanalakshmi Nagar aligns with this median.

• Sri Ensamy Nagar: Rs 350 per sq.ft (2024)
• Sri Lakshmi Nagar: Rs 200 per sq.ft (2024)
• Sri Ramachandra Nagar: Rs 350 per sq.ft (2024)
• Sri Vanmugil Avenue: Rs 300 per sq.ft (2024)
• Sumangali Nagar: Rs 350 per sq.ft (2024)
• Sumangali Nagar Extn: Rs 350 per sq.ft (2024)

Stamp duty and registration fee for property in Sri Dhanalakshmi Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 200 per sq.ft, the total guideline value amounts to Rs 2,00,000. The stamp duty at 7% would be Rs 14,000, and the registration fee at 2% would be Rs 4,000, making the total cost for these charges Rs 18,000. 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 the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Sri Dhanalakshmi Nagar?

The Sub Registrar Office that covers Sri Dhanalakshmi Nagar is the Sriperumpudur Sub Registrar Office, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Eraiyur. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is recorded accurately in the official documents.

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

Frequently asked questions

What is the current guideline value of Sri Dhanalakshmi Nagar?

The current guideline value of Sri Dhanalakshmi Nagar is Rs 200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen several revisions, with the most notable changes occurring from Rs 32 per sq.ft in 2007 to Rs 200 per sq.ft in 2012, and then to Rs 134 per sq.ft in 2017. The value remained at Rs 200 per sq.ft in both the 2023 and 2024 revisions.

What is the land classification of Sri Dhanalakshmi Nagar?

Sri Dhanalakshmi Nagar is classified as Residential Class II Type - I, indicating its designation for residential use.

Where can I find more information about the Sub Registrar Office?

The Sub Registrar Office covering Sri Dhanalakshmi Nagar is located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone. More information can be found by using the find your SRO link.

How are stamp duty and registration fees calculated?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher, while the registration fee is charged at 2%. For example, for a 1,000 sq.ft plot at Rs 200 per sq.ft, the total guideline value is Rs 2,00,000, resulting in a stamp duty of Rs 14,000 and a registration fee of Rs 4,000.