Guideline Value for Sri Lakshmi Enclave

Sri Lakshmi Enclave guideline value

The current guideline value of Sri Lakshmi Enclave in Perungalathur village is Rs 1,650 per sq.ft, effective from 1 July 2024. This property falls under the Padappai SRO and is classified as Residential Class IV Type - II.

How the guideline value of Sri Lakshmi Enclave has changed

The guideline value for Sri Lakshmi Enclave has undergone several revisions over the years. The 2012 revision set the value at Rs 1,500 per sq.ft, which was then decreased to Rs 1,005 per sq.ft in 2017. Following this, the 2023 revision increased the value to Rs 1,500 per sq.ft, and the most recent 2024 revision raised it to Rs 1,650 per sq.ft, marking a 10% increase from the previous year.

Between these revisions, the changes were significant. From 2017 to 2023, there was a 49% increase, while the 2012 to 2017 period saw a decrease of 33%. Overall, from 2012 to 2024, the guideline value has increased by 10%. The register does not contain figures for the years 2002, 2003, and 2007 for this street.

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 of Sri Lakshmi Enclave is below this median.

• Sri Lakshmi Apartments: Rs 2,640 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 Enclave

For a 1,000 sq.ft plot at the current guideline value of Rs 1,650 per sq.ft, the total guideline value amounts to Rs 16,50,000. The stamp duty at 7% would be Rs 1,15,500, and the registration fee at 2% would be Rs 33,000, bringing the total fees together to Rs 1,48,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Sri Lakshmi Enclave?

The Sub Registrar Office that covers Sri Lakshmi Enclave is the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone. You can find your SRO for further assistance.

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

The guideline value is a critical factor when registering property transactions in Perungalathur. It serves as a benchmark for calculating stamp duty and registration fees, ensuring that the government receives the appropriate revenue from property sales.

When you buy or sell property, the guideline value helps in determining the minimum price at which the property can be registered. This ensures transparency and fairness in property transactions.

Frequently asked questions

What is the current guideline value of Sri Lakshmi Enclave?

The current guideline value of Sri Lakshmi Enclave is Rs 1,650 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,500 per sq.ft in 2012 to Rs 1,005 per sq.ft in 2017, then to Rs 1,500 per sq.ft in 2023, and finally to Rs 1,650 per sq.ft in 2024.

What is the land classification of Sri Lakshmi Enclave?

Sri Lakshmi Enclave is classified as Residential Class IV Type - II.

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

For a property valued at Rs 16,50,000, the stamp duty would be Rs 1,15,500 and the registration fee would be Rs 33,000, totaling Rs 1,48,500.

Where is the Sub Registrar Office for Sri Lakshmi Enclave located?

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