Guideline Value for Sri Lakshmi Nagar (Extn)

Sri Lakshmi Nagar (Extn) guideline value

The current guideline value of Sri Lakshmi Nagar (Extn) is Rs 1,000 per sq.ft, as per the 2023 revision. This area falls under Ponmar village and is classified as Residential Special Type - II. The relevant Sub Registrar Office for this location is Gooduvancheri SRO.

How the guideline value of Sri Lakshmi Nagar (Extn) has changed

The guideline value for Sri Lakshmi Nagar (Extn) has seen several revisions over the years. In the 2007 revision, the value was set at Rs 170 per sq.ft. This increased significantly to Rs 1,000 per sq.ft in the 2012 revision, marking an increase of 488%. However, in the 2017 revision, the value dropped to Rs 670 per sq.ft, a decrease of 33%. The most recent revision in 2023 saw the guideline value return to Rs 1,000 per sq.ft, resulting in an increase of 49% from the previous figure.

Overall, from the 2007 revision to the 2023 revision, the guideline value has increased by 488%. It is important to note that there are no figures available for the years 2002, 2003, and 2024 in the register for this street.

Guideline values in Ponmar

Currently, there are no specific guideline values provided for other streets in Ponmar under the Gooduvancheri SRO. Sri Lakshmi Nagar (Extn) is the only street mentioned in the available data.

Stamp duty and registration fee for property in Sri Lakshmi Nagar (Extn)

For a 1,000 sq.ft plot at the current guideline value of Rs 1,000 per sq.ft, the total guideline value would be Rs 10,00,000. The stamp duty at 7% would amount to Rs 70,000, and the registration fee at 2% would be Rs 20,000, bringing the total fees together to Rs 90,000. It is essential 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 Nagar (Extn)?

The Sub Registrar Office that covers Sri Lakshmi Nagar (Extn) 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 Ponmar

The guideline value plays a crucial role in the registration process when buying or selling property in Ponmar. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is sold, the buyer must ensure that the sale price is at least equal to the guideline value to avoid any legal issues during registration. This ensures that the government receives the appropriate taxes based on the property's value.

Frequently asked questions

What is the current guideline value of Sri Lakshmi Nagar (Extn)?

The current guideline value of Sri Lakshmi Nagar (Extn) is Rs 1,000 per sq.ft, as per the 2023 revision.

How has the guideline value changed over the years?

The guideline value has changed from Rs 170 per sq.ft in 2007 to Rs 1,000 per sq.ft in 2012, then decreased to Rs 670 per sq.ft in 2017, and returned to Rs 1,000 per sq.ft in 2023.

What is the registration office for Sri Lakshmi Nagar (Extn)?

The registration office for Sri Lakshmi Nagar (Extn) is the Gooduvancheri Sub Registrar Office, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvancheri - 603202.

What fees are involved in property transactions in Sri Lakshmi Nagar (Extn)?

In property transactions, buyers must pay stamp duty at 7% and a registration fee at 2% based on the guideline value or sale price, whichever is higher.

Are there other streets in Ponmar with guideline values?

Currently, there are no specific guideline values provided for other streets in Ponmar under the Gooduvancheri SRO, with Sri Lakshmi Nagar (Extn) being the only street mentioned.