Guideline Value for Sri Lakshmi Avenue

Sri Lakshmi Avenue guideline value

The current guideline value of Sri Lakshmi Avenue is Rs 1,540 per sq.ft, effective from 1 July 2024. This street is located in Mangadu -A village, under the Kunrathur SRO, and is classified as Residential Class II Type - I.

How the guideline value of Sri Lakshmi Avenue has changed

The guideline value for Sri Lakshmi Avenue has seen several revisions since 2017. In 2017, the value was Rs 938 per sq.ft. This increased significantly to Rs 1,400 per sq.ft in the 2023 revision, marking a 49% rise. The latest revision in 2024 has set the value at Rs 1,540 per sq.ft, reflecting a 10% increase from the previous year.

Overall, from the 2017 revision to the 2024 revision, the guideline value has increased by 64%. The register does not contain figures for the years 2002, 2003, 2007, and 2012 for this street.

Guideline values in Mangadu -A

In Mangadu -A, there are 208 streets under the Kunrathur SRO that carry a 2024 guideline value, ranging from Rs 1,320 to Rs 3,300 per sq.ft. The median value for these streets is Rs 1,870 per sq.ft, placing Sri Lakshmi Avenue's 2024 figure below the median.

• Sri Krishna Nagar: Rs 2,750 per sq.ft (2024)
• Sri Meenatchi Nagar: Rs 1,870 per sq.ft (2024)
• Sri Kamatchi Avenue: Rs 2,200 per sq.ft (2024)
• Sri Kamatchi Amman Nagar Annexe II: Rs 2,200 per sq.ft (2024)
• Sri Kamatchi Amman Nagar Annexe: Rs 2,200 per sq.ft (2024)
• Sri Murugan Nagar: Rs 1,540 per sq.ft (2024)

Stamp duty and registration fee for property in Sri Lakshmi Avenue

For a 1,000 sq.ft plot at the current guideline value of Rs 1,540 per sq.ft, the total guideline value would be Rs 15,40,000. The stamp duty at 7% would amount to Rs 1,07,800, and the registration fee at 2% would be Rs 30,800, bringing the total to Rs 1,38,600. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can also use our stamp duty and registration fee calculator for a precise calculation.

Which Sub Registrar Office covers Sri Lakshmi Avenue?

The Sub Registrar Office that covers Sri Lakshmi Avenue is the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069. For more information, you can find your SRO.

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

The guideline value is a crucial factor in property transactions in Mangadu -A. It determines the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue from property sales.

When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees, which are mandatory costs associated with the transaction. Buyers should be aware of these values to avoid any surprises during the registration process.

Frequently asked questions

What is the current guideline value of Sri Lakshmi Avenue?

The current guideline value of Sri Lakshmi Avenue is Rs 1,540 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 938 per sq.ft in 2017 to Rs 1,400 per sq.ft in 2023, and then to Rs 1,540 per sq.ft in 2024. This reflects a 64% increase from 2017 to 2024.

What is the land classification of Sri Lakshmi Avenue?

Sri Lakshmi Avenue is classified as Residential Class II Type - I, indicating its suitability for residential development.

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

The stamp duty is charged at 7% of the guideline value, while the registration fee is 2%. For example, on a 1,000 sq.ft plot at Rs 1,540 per sq.ft, the total costs would amount to Rs 1,38,600.

Where can I find the Sub Registrar Office for Sri Lakshmi Avenue?

The Kunrathur Sub Registrar Office covers Sri Lakshmi Avenue and is located at No.59, Road Street, Kundrathur, Chennai -600 069. You can find more details by visiting the relevant link.