Guideline Value

Corporate

Guideline Value for Sri Lakshmi Nagar Extn

₹770/sq.ft.

The guideline value for Sri Lakshmi Nagar Extn in Manimangalam A village (Padappai SRO, Chennai zone) is Rs 770 per sq.ft, effective 1 July 2024. It was Rs 700 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

Manimangalam A

Village

Padappai

SRO

Residential Class II Type - I
History
Period Guideline Value
From 1-7-2024 ₹770 /sq.ft.
From 1-4-2023 ₹700 /sq.ft.
From 9-6-2017 To 31-3-2023 ₹469 /sq.ft.
From 1-4-2012 To 8-6-2017 N/A
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 Extn

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Sri Lakshmi Nagar Extn guideline value

The current guideline value for Sri Lakshmi Nagar Extn is Rs 770 per sq.ft, effective from 1 July 2024. This area is located in Manimangalam A village, under the Padappai SRO, and is classified as Residential Class II Type - I.

How the guideline value of Sri Lakshmi Nagar Extn has changed

The guideline value for Sri Lakshmi Nagar Extn has undergone several revisions over the years. The earliest recorded revision was in 2017, where the guideline value was Rs 469 per sq.ft. This figure increased to Rs 700 per sq.ft in 2023, marking a 49% rise. The most recent revision in 2024 set the value at Rs 770 per sq.ft, reflecting a 10% increase from the previous year.

There are no figures available for the revisions in 2002, 2003, 2007, and 2012 for this street. Overall, from the 2017 revision to the 2024 revision, the guideline value has increased by 64%.

Guideline values in Manimangalam A

In Manimangalam A, there are 112 streets under the Padappai SRO that have a 2024 guideline value ranging from Rs 550 to Rs 2,500 per sq.ft, with a median value of Rs 880 per sq.ft. The guideline value for Sri Lakshmi Nagar Extn is below this median.

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 770 per sq.ft, the total guideline value amounts to Rs 7,70,000. The stamp duty, charged at 7%, would be Rs 53,900, while the registration fee at 2% would be Rs 15,400, bringing the total fees to Rs 69,300. Please 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 Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone. You can find your SRO for additional assistance.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Manimangalam A. It determines the minimum price at which a property can be registered, ensuring that the transaction is documented at a fair value.

When registering a property, the stamp duty and registration fees are calculated based on 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 for Sri Lakshmi Nagar Extn?

The current guideline value for Sri Lakshmi Nagar Extn is Rs 770 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 469 per sq.ft in 2017 to Rs 700 per sq.ft in 2023, and then to Rs 770 per sq.ft in 2024. The overall increase from 2017 to 2024 is 64%.

What is the land classification for Sri Lakshmi Nagar Extn?

Sri Lakshmi Nagar Extn is classified as Residential Class II Type - I. This classification indicates the type of development and usage permitted in the area.

What are the stamp duty and registration fees for property transactions?

Stamp duty is charged at 7% of the guideline value or sale price, whichever is higher, while the registration fee is charged at 2%. For example, a 1,000 sq.ft plot at the current guideline value would incur a total fee of Rs 69,300.

Where can I find the relevant Sub Registrar Office?

The Padappai Sub Registrar Office covers Sri Lakshmi Nagar Extn and is located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone. You can find more information about your SRO online.