Guideline Value for Sri Jayalakshmi nagar

Sri Jayalakshmi nagar guideline value

The current guideline value of Sri Jayalakshmi nagar is Rs 200 per sq.ft, effective from 1 July 2024. This area is located in Thirumanikuppam village, under the Sunguvarchattram SRO, and is classified as Residential Special 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. In the 2012 revision, the value was Rs 200 per sq.ft. This remained the same in the 2017 revision, where it was Rs 134 per sq.ft, reflecting a decrease of 33%. The 2023 revision saw an increase to Rs 200 per sq.ft, and the current 2024 revision maintains this value with no change from the previous year.

From 2017 to 2023, the guideline value increased by 49%. Overall, from the 2012 revision to the 2024 revision, there has been no change in the guideline value. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Thirumanikuppam

In Thirumanikuppam, there are 15 streets under the Sunguvarchattram SRO that carry a 2024 guideline value ranging from Rs 130 to Rs 200 per sq.ft, with a median value of Rs 181 per sq.ft. The guideline value for Sri Jayalakshmi nagar is above this median.

• SriLakshmi Nagar: Rs 200 per sq.ft (2024)
• Sri Balaji Nagar: Rs 200 per sq.ft (2024)
• Sri Annai Parasakthi Avenue: Rs 200 per sq.ft (2024)
• Thatko Colony: Rs 130 per sq.ft (2024)
• Vasinampattu Colony: Rs 130 per sq.ft (2024)
• Raja Maharaja Nagar: Rs 200 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, the guideline value is 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 a total of Rs 18,000. Duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for precise calculations.

Which Sub Registrar Office covers Sri Jayalakshmi nagar?

The Sub Registrar Office that covers Sri Jayalakshmi nagar is the Sunguvarchattram Sub Registrar Office, located at Vadivamal Nagar Kandigai Road Caparo Company Opp, Sunguvarchatram, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is an essential factor in the registration process when buying or selling property in Thirumanikuppam. It determines the minimum value at which a property can be registered, ensuring that the transaction is documented accurately according to the prevailing rates in the area.

When you register a property, the guideline value is used to calculate the stamp duty and registration fees. These fees are based on the higher of the guideline value or the actual sale price, which ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Sri Jayalakshmi nagar?

The current guideline value of Sri Jayalakshmi 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 changed from Rs 200 per sq.ft in 2012 to Rs 134 per sq.ft in 2017, then back to Rs 200 per sq.ft in 2023 and 2024. There have been significant changes between these revisions, including a 49% increase from 2017 to 2023.

What is the land classification of Sri Jayalakshmi nagar?

Sri Jayalakshmi nagar is classified as Residential Special Type - I, indicating its suitability for residential development.

Where can I find the Sub Registrar Office for Sri Jayalakshmi nagar?

The Sub Registrar Office for Sri Jayalakshmi nagar is located at Vadivamal Nagar Kandigai Road Caparo Company Opp, Sunguvarchatram, Chengalpattu registration zone.

How is stamp duty calculated for properties in Sri Jayalakshmi nagar?

Stamp duty is calculated based on the higher of the guideline value or the actual sale price of the property. For example, on a property with a guideline value of Rs 2,00,000, the stamp duty would be Rs 14,000 at a rate of 7%.