Guideline Value for Sri Lakshmi Hayagerivar Nagar

Sri Lakshmi Hayagerivar Nagar guideline value

The current guideline value of Sri Lakshmi Hayagerivar Nagar is Rs 700 per sq.ft, effective from 1 July 2024. This locality is situated in Keelakazhani village, under the Gooduvancheri SRO, and is classified as Residential Special Type - I.

How the guideline value of Sri Lakshmi Hayagerivar Nagar has changed

Over the years, the guideline value of Sri Lakshmi Hayagerivar Nagar has seen several revisions. The earliest recorded value is from 2007, when it was Rs 200 per sq.ft. This figure increased to Rs 700 per sq.ft in 2012, marking a significant rise of 250%. However, in 2017, the value decreased to Rs 469 per sq.ft, a drop of 33%. The value then increased to Rs 700 per sq.ft in 2023, and has remained the same in the 2024 revision, showing no change from the previous year.

From 2017 to 2023, the value increased by 49%. Overall, from 2007 to 2024, the guideline value has risen by 250%. It is important to note that there are no recorded figures for the years 2002 and 2003 for this street.

Guideline values in Keelakazhani

In Keelakazhani, there are 35 streets under the Gooduvancheri SRO that have a 2024 guideline value ranging from Rs 500 to Rs 1,000 per sq.ft, with a median value of Rs 700 per sq.ft. The guideline value of Sri Lakshmi Hayagerivar Nagar aligns with this median.

• Sri Mahalakshmi Nagar: Rs 700 per sq.ft (2024)
• Sri Mahalakshmi Nagar Extension-II: Rs 700 per sq.ft (2024)
• Sri Mahalakshmi Nagar Extn I: Rs 700 per sq.ft (2024)
• Sri Kallazhagar City Phase I: Rs 800 per sq.ft (2024)
• Sri Meenakshi Nagar: Rs 700 per sq.ft (2024)
• Sri Gopalakrishna Nagar Phase -II: Rs 800 per sq.ft (2024)

Stamp duty and registration fee for property in Sri Lakshmi Hayagerivar Nagar

For a 1,000 sq.ft plot at the current rate of Rs 700 per sq.ft, the guideline value would be Rs 7,00,000. The stamp duty at 7% would amount to Rs 49,000, and the registration fee at 2% would be Rs 14,000, bringing the total to Rs 63,000. 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 Hayagerivar Nagar?

The Sub Registrar Office that covers Sri Lakshmi Hayagerivar Nagar is the Gooduvancheri Sub Registrar Office, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvancheri-603202, Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Keelakazhani. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction. Buyers and sellers must be aware of the current guideline value to ensure compliance with the local regulations.

When a property is sold, the guideline value is used to calculate the applicable taxes, which are based on either the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Sri Lakshmi Hayagerivar Nagar?

The current guideline value of Sri Lakshmi Hayagerivar Nagar is Rs 700 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 2007 to Rs 700 per sq.ft in 2012, then decreased to Rs 469 per sq.ft in 2017, and returned to Rs 700 per sq.ft in 2023 and 2024.

What are the other streets in Keelakazhani with their guideline values?

Other streets in Keelakazhani include Sri Mahalakshmi Nagar, Sri Mahalakshmi Nagar Extension-II, Sri Mahalakshmi Nagar Extn I, Sri Kallazhagar City Phase I, Sri Meenakshi Nagar, and Sri Gopalakrishna Nagar Phase -II, with values ranging from Rs 700 to Rs 800 per sq.ft in 2024.

Where is the Gooduvancheri Sub Registrar Office located?

The Gooduvancheri Sub Registrar Office is located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvancheri-603202, Chengalpattu registration zone.

How is stamp duty calculated for properties in Sri Lakshmi Hayagerivar Nagar?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 7,00,000, the stamp duty at 7% would be Rs 49,000.