Guideline Value for Sri Jayalakshmi Nagar

Sri Jayalakshmi Nagar guideline value

The current guideline value of Sri Jayalakshmi Nagar is Rs 500 per sq.ft, effective from 1 July 2024. This locality is situated in Kavanur village, under the Gooduvancheri SRO, and is classified as Residential Class II Type - I.

How the guideline value of Sri Jayalakshmi Nagar has changed

The guideline value for Sri Jayalakshmi Nagar has seen several revisions over the years. In the 2007 revision, the guideline value was Rs 100 per sq.ft, which increased significantly to Rs 500 per sq.ft in the 2012 revision. However, there was a decrease to Rs 335 per sq.ft in the 2017 revision. The 2023 revision maintained the value at Rs 500 per sq.ft, and this value remains unchanged in the 2024 revision.

From 2017 to 2023, there was a notable increase of 49%. The overall change from 2007 to 2024 shows a substantial increase of 400%. The register does not have figures for the years 2002 and 2003 for this street.

Guideline values in Kavanur

In Kavanur, there are 109 streets under the Gooduvancheri SRO that have a guideline value for 2024, ranging from Rs 500 to Rs 2,239 per sq.ft, with a median value of Rs 800 per sq.ft. The guideline value of Sri Jayalakshmi Nagar is below this median.

• Sri Kamatchi Amman Nagar: Rs 500 per sq.ft (2024)
• Sri Gopalakrishna Nagar Phase -IV: Rs 804 per sq.ft (2024)
• Sri Gopalakrishna Nagar Phase -III: Rs 800 per sq.ft (2024)
• Sri KannanNagar: Rs 800 per sq.ft (2024)
• Sri Gopalakrishna Nagar Phase -I: Rs 800 per sq.ft (2024)
• Sri Gopalakrishna Nagar Extension: Rs 1,000 per sq.ft (2024)

Stamp duty and registration fee for property in Sri Jayalakshmi Nagar

For a 1,000 sq.ft plot at the current rate of Rs 500 per sq.ft, the guideline value amounts to Rs 5,00,000. The stamp duty at 7% would be Rs 35,000, and the registration fee at 2% would be Rs 10,000, totaling Rs 45,000. 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 Jayalakshmi Nagar?

The Sub Registrar Office that covers Sri Jayalakshmi Nagar is the Gooduvancheri Sub Registrar Office, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvancheri-603202, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial component in the property registration process in Kavanur. It serves as the basis for calculating stamp duty and registration fees, which are mandatory when transferring property ownership.

When a property is bought or sold, the guideline value helps determine the official value of the transaction. This ensures that the correct fees are applied, reflecting the property's worth as per the government's valuation.

Frequently asked questions

What is the current guideline value of Sri Jayalakshmi Nagar?

The current guideline value of Sri Jayalakshmi Nagar is Rs 500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 100 per sq.ft in 2007 to Rs 500 per sq.ft in 2012, then decreased to Rs 335 per sq.ft in 2017, and has remained at Rs 500 per sq.ft since 2023.

What are the stamp duty and registration fees for properties in Sri Jayalakshmi Nagar?

For a property valued at Rs 5,00,000, the stamp duty is Rs 35,000, and the registration fee is Rs 10,000, totaling Rs 45,000.

Which office handles property registrations in Sri Jayalakshmi Nagar?

The Gooduvancheri Sub Registrar Office handles property registrations for Sri Jayalakshmi Nagar, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvancheri-603202.

What is the significance of the guideline value in property transactions?

The guideline value is used to determine the official value of a property, which is essential for calculating stamp duty and registration fees during property transactions.