Guideline Value for Sri Gajalaxmi Nagar

Sri Gajalaxmi Nagar guideline value

The current guideline value of Sri Gajalaxmi Nagar is Rs 400 per sq.ft, effective from 1 July 2024. This area is located in Irunkattukottai village, under the Sriperumpudur SRO, and is classified as Residential Class III Type - I.

How the guideline value of Sri Gajalaxmi Nagar has changed

In the 2012 revision, the guideline value was Rs 400 per sq.ft. This figure remained unchanged in the 2017 revision, where it was Rs 268 per sq.ft, reflecting a decrease of 33%. The 2023 revision saw the value return to Rs 400 per sq.ft, maintaining this rate into the 2024 revision, which also stands at Rs 400 per sq.ft, showing no change from the previous year.

Overall, from 2012 to 2024, the guideline value has not changed, remaining at Rs 400 per sq.ft. It is important to note that there are no figures available for the years 2002, 2003, and 2007 for this street.

Guideline values in Irunkattukottai

In Irunkattukottai, there are 56 streets under the Sriperumpudur SRO that have a 2024 guideline value ranging from Rs 250 to Rs 1,250 per sq.ft, with a median value of Rs 400 per sq.ft. The guideline value for Sri Gajalaxmi Nagar aligns with this median.

• Sri Kamacthi Nagar: Rs 600 per sq.ft (2024)
• Sivan Koil Street: Rs 400 per sq.ft (2024)
• Sivaji Street: Rs 400 per sq.ft (2024)
• Star Avenue: Rs 600 per sq.ft (2024)
• Subrabath Nagar: Rs 400 per sq.ft (2024)
• Saran Singh Street: Rs 400 per sq.ft (2024)

Stamp duty and registration fee for property in Sri Gajalaxmi Nagar

For a 1,000 sq.ft plot at the current rate of Rs 400 per sq.ft, the guideline value amounts to Rs 4,00,000. The stamp duty at 7% would be Rs 28,000, and the registration fee at 2% would be Rs 8,000, resulting in a total of Rs 36,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use the stamp duty and registration fee calculator for more specific calculations.

Which Sub Registrar Office covers Sri Gajalaxmi Nagar?

The Sub Registrar Office that covers Sri Gajalaxmi 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 Irunkattukottai

The guideline value is a critical factor in the registration process of property transactions in Irunkattukottai. It serves as a benchmark for determining the applicable stamp duty and registration fees when buying or selling property.

When a property is registered, the guideline value is used to calculate the fees based on the higher of the guideline value or the sale price. This ensures that the fees are accurately assessed according to the value of the property being transacted.

Frequently asked questions

What is the current guideline value of Sri Gajalaxmi Nagar?

The current guideline value of Sri Gajalaxmi Nagar is Rs 400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has remained at Rs 400 per sq.ft from 2012 to 2024, with a decrease to Rs 268 per sq.ft in 2017 before returning to Rs 400 per sq.ft in 2023.

What is the land classification of Sri Gajalaxmi Nagar?

Sri Gajalaxmi Nagar is classified as Residential Class III Type - I.

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

The Sub Registrar Office for Sri Gajalaxmi Nagar is the Sriperumpudur Sub Registrar Office, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone.

How is the stamp duty calculated for properties in Sri Gajalaxmi Nagar?

The 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 Rs 400 per sq.ft, the total guideline value would be Rs 4,00,000, resulting in a stamp duty of Rs 28,000.