Guideline Value for Sri Lakshmi Nagar 2nd Street

Sri Lakshmi Nagar 2nd Street guideline value

The current guideline value for Sri Lakshmi Nagar 2nd Street is not published; it was last notified at Rs 335 per sq.ft in the 2017 revision. This street is located in Venkatapuram village under the Kunrathur SRO, and it falls under the Residential Class I Type - III land classification.

How the guideline value of Sri Lakshmi Nagar 2nd Street has changed

In the 2012 revision, the guideline value was set at Rs 500 per sq.ft. However, in the subsequent 2017 revision, it decreased to Rs 335 per sq.ft, reflecting a change of -33%. The register has no figure for this street in the years 2002, 2003, 2007, 2023, and 2024.

As a result, the only revisions that provide a figure for Sri Lakshmi Nagar 2nd Street are from 2012 and 2017. This indicates that there has been a notable decline in the guideline value over the last decade.

Guideline values in Venkatapuram

In Venkatapuram, there are 68 streets under the Kunrathur SRO that carry a 2024 figure ranging from Rs 1,100 to Rs 1,200 per sq.ft, with the median being Rs 1,200 per sq.ft. While Sri Lakshmi Nagar 2nd Street does not have a current figure, it is important to note the guideline values of other streets in the area.

• Sri Lakshmi Nagar 2nd main Road: Rs 1,200 per sq.ft (2024)
• Sri Lakshmi Nagar 2nd Cross Street: Rs 1,200 per sq.ft (2024)
• Sri Lakshmi Nagar 3rd Street: Rs 1,200 per sq.ft (2024)
• Sri Lakshmi Nagar 1st Street: Rs 1,200 per sq.ft (2024)
• Sri Lakshmi Nagar 1st Main Road: Rs 1,200 per sq.ft (2024)
• Sri Lakshmi Nagar 1st Cross Street: Rs 1,200 per sq.ft (2024)

Stamp duty and registration fee for property in Sri Lakshmi Nagar 2nd Street

As there is no current rate for this street, a worked example cannot be provided. However, it is important to note that stamp duty is charged on the higher of the guideline value and the sale price. For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Sri Lakshmi Nagar 2nd Street?

The Sub Registrar Office that covers Sri Lakshmi Nagar 2nd Street is the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069. You can find your SRO for more details.

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

The guideline value plays a crucial role in the registration process when buying or selling property. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives the appropriate stamp duty based on this value.

When a property is sold, the seller must ensure that the sale price is at least equal to the guideline value to avoid any legal issues during registration. This helps maintain transparency and fairness in property transactions.

Frequently asked questions

What is the current guideline value for Sri Lakshmi Nagar 2nd Street?

The current guideline value for Sri Lakshmi Nagar 2nd Street is not published; it was last notified at Rs 335 per sq.ft in the 2017 revision.

How has the guideline value changed over the years?

Since the 2012 revision, which set the value at Rs 500 per sq.ft, the guideline value decreased to Rs 335 per sq.ft in the 2017 revision, marking a -33% change.

What are the guideline values for other streets in Venkatapuram?

Other streets in Venkatapuram have a guideline value of Rs 1,200 per sq.ft as per the 2024 revision. This includes streets such as Sri Lakshmi Nagar 1st Street and Sri Lakshmi Nagar 2nd main Road.

Where is the Kunrathur Sub Registrar Office located?

The Kunrathur Sub Registrar Office is located at No.59, Road Street, Kundrathur, Chennai -600 069. This office handles registrations for properties in the area.

How is stamp duty calculated for properties in Sri Lakshmi Nagar 2nd Street?

Stamp duty is charged on the higher of the guideline value and the sale price of the property. For accurate calculations, you can use the stamp duty and registration fee calculator available online.