Guideline Value for Sri Jayalakshmi Nagar

Sri Jayalakshmi Nagar guideline value

The current guideline value of Sri Jayalakshmi Nagar, located in Manimangalam A village under the Padappai SRO, is Rs 880 per sq.ft, effective from 1 July 2024. This area is classified as Residential Class I Type - I.

How the guideline value of Sri Jayalakshmi Nagar has changed

The guideline value for Sri Jayalakshmi Nagar has undergone several revisions over the years. The 2017 revision set the value at Rs 536 per sq.ft, which increased to Rs 800 per sq.ft in the 2023 revision. The most recent revision in 2024 raised the value to Rs 880 per sq.ft, marking a 10% increase from the previous year. Overall, from 2017 to 2024, the guideline value has increased by 64%.

There are no figures available for the years 2002, 2003, 2007, and 2012 in the register for this street. The 2024 figure of Rs 880 per sq.ft is equal to the median value of Rs 880 per sq.ft for the 112 streets in Manimangalam A under the Padappai SRO.

Guideline values in Manimangalam A

In Manimangalam A, the guideline values for various streets range from Rs 550 to Rs 2,500 per sq.ft, with the median value being Rs 880 per sq.ft. This positions Sri Jayalakshmi Nagar at the median value for 2024.

• Sri Gajalakshmi Nagar Extension: Rs 1,430 per sq.ft (2024)
• Sri Gajalakshmi Nagar Annex I to III: Rs 1,430 per sq.ft (2024)
• Sri Lakshmi Nagar: Rs 770 per sq.ft (2024)
• Sri Lakshmi Nagar Extn: Rs 770 per sq.ft (2024)
• Sri Meenakshi Nagar: Rs 880 per sq.ft (2024)
• Sri Astalakshmi Nagar Extension: Rs 770 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 880 per sq.ft, the guideline value amounts to Rs 8,80,000. The stamp duty at 7% would be Rs 61,600, and the registration fee at 2% would be Rs 17,600, totaling Rs 79,200. 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 details.

Which Sub Registrar Office covers Sri Jayalakshmi Nagar?

Sri Jayalakshmi Nagar falls under the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a critical factor during property transactions, as it determines the minimum price at which a property can be registered. When buying or selling property in Manimangalam A, the guideline value is used to calculate the stamp duty and registration fees, which are mandatory for the transfer of ownership.

It is essential for buyers and sellers to be aware of the current guideline value to ensure compliance with the registration process. This value helps in establishing a fair basis for the transaction and is crucial for legal documentation.

Frequently asked questions

What is the current guideline value of Sri Jayalakshmi Nagar?

The current guideline value of Sri Jayalakshmi Nagar is Rs 880 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has changed from Rs 536 per sq.ft in 2017 to Rs 880 per sq.ft in 2024, reflecting an overall increase of 64% over this period.

What are the stamp duty rates applicable in Sri Jayalakshmi Nagar?

The stamp duty rate applicable in Sri Jayalakshmi Nagar is 7% of the guideline value or sale price, whichever is higher.

Which office handles registrations for Sri Jayalakshmi Nagar?

The Padappai Sub Registrar Office handles registrations for Sri Jayalakshmi Nagar, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone.

Where can I find more information about guideline values in Manimangalam A?

More information about guideline values in Manimangalam A can be found in the Registration Department's guideline value register (TNReginet) and through the local Sub Registrar Office.