Guideline Value for Sri Lakshmi Apartments

Sri Lakshmi Apartments guideline value

The current guideline value of Sri Lakshmi Apartments, located in Perungalathur village under the Padappai SRO, is Rs 2,640 per sq.ft, effective from 1 July 2024. This property falls under the Residential Class I Type - I land classification.

How the guideline value of Sri Lakshmi Apartments has changed

Over the years, the guideline value for Sri Lakshmi Apartments has seen several revisions. The 2012 revision set the value at Rs 2,400 per sq.ft, which was then decreased to Rs 1,608 per sq.ft in the 2017 revision. Following this, the 2023 revision increased the value to Rs 2,400 per sq.ft, and the most recent 2024 revision raised it further to Rs 2,640 per sq.ft. Notably, there are no figures available for the years 2002, 2003, and 2007 for this street.

When examining the changes, the guideline value increased by 49% from 2017 to 2023 and by 10% from 2023 to 2024. However, there was a decrease of 33% from 2012 to 2017. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Perungalathur

In Perungalathur, there are 411 streets under the Padappai SRO that carry a 2024 guideline value ranging from Rs 1,320 to Rs 5,500 per sq.ft, with a median value of Rs 2,310 per sq.ft. The guideline value for Sri Lakshmi Apartments is above this median.

• Sri Lakshmi Enclave: Rs 1,650 per sq.ft (2024)
• Sri Lingam Apartments: Rs 2,310 per sq.ft (2024)
• Sri Mahalakshmi Nagar: Rs 2,640 per sq.ft (2024)
• Sri Meenakshi Nagar: Rs 1,650 per sq.ft (2024)
• Sri Nidhi Nagar: Rs 1,980 per sq.ft (2024)
• Srinivasa Perumal Sannathi Street: Rs 2,640 per sq.ft (2024)

Stamp duty and registration fee for property in Sri Lakshmi Apartments

For a 1,000 sq.ft plot at the current guideline value of Rs 2,640 per sq.ft, the total guideline value amounts to Rs 26,40,000. The stamp duty at 7% would be Rs 1,84,800, and the registration fee at 2% would be Rs 52,800, bringing the total charges to Rs 2,37,600. 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 Lakshmi Apartments?

The Sri Lakshmi Apartments are covered by 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 Perungalathur

The guideline value is a critical factor in the registration process for property transactions in Perungalathur. It serves as a benchmark for determining the minimum value at which a property can be sold and is used to calculate the stamp duty and registration fees payable during the transaction.

When buying or selling property, the guideline value helps ensure transparency and fairness in the pricing process. Buyers and sellers must be aware of the current guideline value to avoid discrepancies during registration at the Padappai SRO.

Frequently asked questions

What is the current guideline value of Sri Lakshmi Apartments?

The current guideline value of Sri Lakshmi Apartments is Rs 2,640 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,400 per sq.ft in 2012 to Rs 1,608 per sq.ft in 2017, then back to Rs 2,400 per sq.ft in 2023, and finally to Rs 2,640 per sq.ft in 2024.

What is the land classification for Sri Lakshmi Apartments?

Sri Lakshmi Apartments falls under the Residential Class I Type - I land classification, which is designated for residential use.

What are the stamp duty and registration fees for a property in Sri Lakshmi Apartments?

For a property valued at Rs 26,40,000, the stamp duty would be Rs 1,84,800 and the registration fee would be Rs 52,800, totaling Rs 2,37,600.

Which Sub Registrar Office is responsible for Sri Lakshmi Apartments?

The Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone, is responsible for Sri Lakshmi Apartments.