Guideline Value for Sri Guberalakshmi Nagar

Sri Guberalakshmi Nagar guideline value

The current guideline value of Sri Guberalakshmi Nagar is Rs 103 per sq.ft, effective from 1 July 2024. This area is located in Pasumpoor village and falls under the Madurandakam SRO. The land classification is Residential Special Type - I.

How the guideline value of Sri Guberalakshmi Nagar has changed

The guideline value for Sri Guberalakshmi Nagar has seen several revisions over the years. The 2007 revision set the value at Rs 30 per sq.ft, which increased to Rs 70 per sq.ft in 2012. However, there was a decrease of 33% in the value from 2012 to 2017, bringing it down to Rs 47 per sq.ft. The value then rose significantly to Rs 100 per sq.ft in the 2023 revision, marking an increase of 113%. The latest revision in 2024 has raised the guideline value to Rs 103 per sq.ft, reflecting a 3% increase from the previous year.

It is important to note that there are no figures available for the years 2002 and 2003 in the register for this street. Overall, from 2007 to 2024, the guideline value has increased by 243%.

Guideline values in Pasumpoor

In Pasumpoor, there are four streets under the Madurandakam SRO that carry the 2024 guideline value, all set at Rs 103 per sq.ft. This places Sri Guberalakshmi Nagar at the median value for the area.

• Sathya Sai Saibaba Nagar: Rs 103 per sq.ft (2024)
• Nemisanth Nagar: Rs 103 per sq.ft (2024)
• Abhi Avenue: Rs 103 per sq.ft (2024)

Stamp duty and registration fee for property in Sri Guberalakshmi Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 103 per sq.ft, the total guideline value would be Rs 1,03,000. The stamp duty at 7% would amount to Rs 7,210, and the registration fee at 2% would be Rs 2,060, bringing the total cost together to Rs 9,270. It is essential to note that duty is charged on the guideline value or the sale price, whichever is higher. For more details, you can use our stamp duty and registration fee calculator.

Which Sub Registrar Office covers Sri Guberalakshmi Nagar?

The Sub Registrar Office covering Sri Guberalakshmi Nagar is the Madurandakam Sub Registrar Office, located at No.53, Old Taluk Office Road, Maduranthakam-603306, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor when buying or selling property in Pasumpoor, as it determines the stamp duty and registration fees applicable during the transaction. Buyers should be aware that the guideline value is used to calculate these fees, ensuring that they are prepared for the associated costs.

When registering a property, the buyer must pay the stamp duty based on the higher value between the guideline value and the sale price. This ensures that the registration process is aligned with the official valuation set by the authorities.

Frequently asked questions

What is the current guideline value of Sri Guberalakshmi Nagar?

The current guideline value of Sri Guberalakshmi Nagar is Rs 103 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 30 per sq.ft in 2007 to Rs 103 per sq.ft in 2024, marking a significant increase of 243% over the years.

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

The stamp duty is 7% and the registration fee is 2% of the guideline value. For a 1,000 sq.ft plot, the total fees would amount to Rs 9,270.

Which office handles property registrations in Sri Guberalakshmi Nagar?

The Madurandakam Sub Registrar Office handles property registrations for Sri Guberalakshmi Nagar, located at No.53, Old Taluk Office Road, Maduranthakam-603306, Chengalpattu registration zone.

How is the guideline value used in property transactions?

The guideline value is used to calculate the stamp duty and registration fees during property transactions. It is essential for buyers to consider this value when preparing for the costs associated with buying or selling property.