Guideline Value

Corporate

Guideline Value for Sri Lakshmi Nagar Extension

₹990/sq.ft.

The guideline value for Sri Lakshmi Nagar Extension in Padappai village (Padappai SRO, Chennai zone) is Rs 990 per sq.ft, effective 1 July 2024. It was Rs 900 per sq.ft from 1 April 2023, a 10% change. The land classification is Residential Class Ii Type - I. Source: TNReginet guideline value register.

Last updated:

Chennai

Zone

Padappai

Village

Padappai

SRO

Residential Class II Type - I
History
Period Guideline Value
From 1-7-2024 ₹990 /sq.ft.
From 1-4-2023 ₹900 /sq.ft.
From 9-6-2017 To 31-3-2023 ₹603 /sq.ft.
From 1-4-2012 To 8-6-2017 ₹900 /sq.ft.
From 1-8-2007 To 31-3-2012 N/A
From 1-4-2003 To 31-7-2007 N/A
From 1-4-2002 To 31-3-2003 N/A
Guideline Value Timeline
Guideline Value Comparison

SRO (Sub Registrar Office)

3/158, Pushpagiri Main Rd, Padappai - 601 301.
044-27174392
[email protected]

DRO (District Registrar Office)

Integrated Building For Offices Of The Commercial Taxes And Registration Department, Fanepet, Nandhanam, Chennai - 35.
044-22505552
[email protected], [email protected]

DIG (Deputy Inspector General)

Integrated Building For Offices Of The Commercial Taxes And Registration, Department Fanepet, Nandanam, Chennai - 600 035.
044-29510527
[email protected]
Records for a plot on Sri Lakshmi Nagar Extension

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Sri Lakshmi Nagar Extension guideline value

The current guideline value of Sri Lakshmi Nagar Extension is Rs 990 per sq.ft, effective from 1 July 2024. This area is located in Padappai village, under the Padappai Sub Registrar Office (SRO). The land classification for this street is Residential Class II Type - I.

How the guideline value of Sri Lakshmi Nagar Extension has changed

In the 2012 revision, the guideline value was Rs 900 per sq.ft. This figure remained until the 2017 revision, where it decreased to Rs 603 per sq.ft, marking a decline of 33%. The value then increased significantly to Rs 900 per sq.ft in the 2023 revision, representing a 49% increase. The most recent 2024 revision set the value at Rs 990 per sq.ft, reflecting a 10% increase from the previous year.

There are no figures available for the revisions in 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, there has been a 10% increase in the guideline value.

Guideline values in Padappai

In Padappai, there are 146 streets under the Padappai SRO that carry a 2024 guideline value, ranging from Rs 440 to Rs 4,000 per sq.ft. The median value for these streets is Rs 830 per sq.ft, making the current value of Sri Lakshmi Nagar Extension above this median.

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

For a 1,000 sq.ft plot at the current guideline value of Rs 990 per sq.ft, the total guideline value would be Rs 9,90,000. The stamp duty at 7% would amount to Rs 69,300, and the registration fee at 2% would be Rs 19,800, totaling Rs 89,100. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Sri Lakshmi Nagar Extension?

The Sub Registrar Office that covers Sri Lakshmi Nagar Extension 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 more information.

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

The guideline value plays a crucial role in property transactions in Padappai. It is used to determine the stamp duty and registration fees that need to be paid when a property is bought or sold. Buyers and sellers must be aware of the current guideline value to ensure compliance with the legal requirements during registration.

When a property is registered, the guideline value is considered to ascertain the applicable charges. This ensures that the government receives the correct revenue from property transactions, which is essential for local development and infrastructure.

Frequently asked questions

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

The current guideline value of Sri Lakshmi Nagar Extension is Rs 990 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 900 per sq.ft in 2012 to Rs 603 per sq.ft in 2017, then increased to Rs 900 per sq.ft in 2023, and finally to Rs 990 per sq.ft in 2024.

What is the land classification for Sri Lakshmi Nagar Extension?

Sri Lakshmi Nagar Extension is classified as Residential Class II Type - I, indicating its designation for residential purposes.

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

The Sub Registrar Office for Sri Lakshmi Nagar Extension is the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone.

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

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, for a property valued at Rs 9,90,000, the stamp duty at 7% would be Rs 69,300.