Guideline Value for Sri Lakshmi Nagar

Sri Lakshmi Nagar guideline value

The current guideline value of Sri Lakshmi Nagar is Rs 1,500 per sq.ft, effective from 1 July 2024. This area is located in Gooduvancheri village, which falls under the Gooduvancheri SRO. The land classification for this street is Residential Special Type - I.

How the guideline value of Sri Lakshmi Nagar has changed

The guideline value of Sri Lakshmi Nagar has seen several revisions over the years. The 2017 revision set the value at Rs 1,005 per sq.ft, which remained unchanged at Rs 1,500 per sq.ft in the 2023 revision. The current 2024 revision also maintains the same rate of Rs 1,500 per sq.ft, indicating a 0% change from the previous year. Notably, the overall change from 2017 to 2024 is an increase of 49%.

There are no figures available for the revisions in 2002, 2003, 2007, and 2012 for this street. The consistent value of Rs 1,500 per sq.ft in both the 2023 and 2024 revisions highlights stability in the guideline value since the last significant increase in 2017.

Guideline values in Gooduvancheri

In Gooduvancheri, there are 129 streets under the Gooduvancheri SRO that carry a 2024 guideline value, ranging from Rs 1,000 to Rs 3,500 per sq.ft. The median value for these streets is Rs 1,500 per sq.ft, which aligns with the current guideline value of Sri Lakshmi Nagar.

• Srinivasa Avenue: Rs 1,200 per sq.ft (2024)
• Srinivasa Nagar: Rs 1,500 per sq.ft (2024)
• Srinivasapuram: Rs 2,001 per sq.ft (2024)
• Srinu Prabhu Nagar: Rs 2,001 per sq.ft (2024)
• Sri Rajeswari Nagar: Rs 1,200 per sq.ft (2024)
• Sriram Nagar: Rs 1,200 per sq.ft (2024)

Stamp duty and registration fee for property in Sri Lakshmi Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,500 per sq.ft, the total guideline value amounts to Rs 15,00,000. The stamp duty at 7% would be Rs 1,05,000, and the registration fee at 2% would be Rs 30,000, leading to a total of Rs 1,35,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Sri Lakshmi Nagar?

The Sub Registrar Office that covers Sri Lakshmi 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 information.

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

The guideline value plays a crucial role in property transactions in Gooduvancheri. It is used to determine the stamp duty and registration fees during the sale or purchase of property. Buyers and sellers should be aware that the guideline value is a benchmark for taxation purposes and is essential for legal documentation.

When registering a property, the guideline value ensures that the transaction is recorded at a fair value, which is essential for both parties involved. It helps maintain transparency in property dealings and ensures compliance with local regulations.

Frequently asked questions

What is the current guideline value of Sri Lakshmi Nagar?

The current guideline value of Sri Lakshmi Nagar is Rs 1,500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has remained at Rs 1,500 per sq.ft from 2023 to 2024, and it has increased by 49% from Rs 1,005 per sq.ft in 2017 to the current rate.

What is the land classification for Sri Lakshmi Nagar?

Sri Lakshmi Nagar is classified as Residential Special Type - I, which indicates its intended use for residential purposes.

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

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

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

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at Rs 1,500 per sq.ft has a guideline value of Rs 15,00,000, leading to a stamp duty of Rs 1,05,000.