Guideline Value for Sri Lakshmi Nagar

Sri Lakshmi Nagar guideline value

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

How the guideline value of Sri Lakshmi Nagar has changed

Over the years, the guideline value for Sri Lakshmi Nagar has seen several revisions. The earliest recorded figure is from 2007, where the value was Rs 155 per sq.ft. This increased significantly to Rs 500 per sq.ft in 2012, marking a 223% rise. However, it then dropped to Rs 335 per sq.ft in 2017, reflecting a decrease of 33%. The current figure of Rs 500 per sq.ft has remained unchanged since 2023.

From 2017 to 2023, the guideline value saw a substantial increase of 49%, bringing it back to Rs 500 per sq.ft in 2023, which remained the same in the 2024 revision. Notably, the register has no figures for the years 2002 and 2003 for this street.

Guideline values in Korukanthangal

In Korukanthangal, there are 25 streets under the Gooduvancheri SRO that carry a 2024 guideline value ranging from Rs 500 to Rs 500 per sq.ft, with a median value also at Rs 500 per sq.ft. The guideline value for Sri Lakshmi Nagar is equal to this median.

• Sri Gayathri Dr.City Phase-II & V: Rs 500 per sq.ft (2024)
• Sri Gayathri Co-op Mega Nagar: Rs 500 per sq.ft (2024)
• Sri Balaji Nagar: Rs 500 per sq.ft (2024)
• Subramaniya Nagar: Rs 500 per sq.ft (2024)
• Sapthagiri Nagar Extn: Rs 500 per sq.ft (2024)
• Sapthagiri Nagar: Rs 500 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 500 per sq.ft, the total guideline value would be Rs 5,00,000. The stamp duty at 7% would amount to Rs 35,000, and the registration fee at 2% would be Rs 10,000, leading to a total of Rs 45,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can also use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Sri Lakshmi Nagar?

The Gooduvancheri Sub Registrar Office covers Sri Lakshmi Nagar. The office is located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvanchery-603202, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role during property transactions in Korukanthangal. It is used to determine the stamp duty and registration fees that buyers and sellers must pay when registering a property. This value ensures that the transaction is documented accurately and that the appropriate taxes are collected by the government.

When you buy or sell property in Sri Lakshmi Nagar, the guideline value will be referenced to assess the official value of the property. This helps in maintaining transparency in property transactions and ensures that both parties are aware of the financial obligations involved.

Frequently asked questions

What is the current guideline value of Sri Lakshmi Nagar?

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

How has the guideline value changed over the years?

The guideline value has changed from Rs 155 per sq.ft in 2007 to Rs 500 per sq.ft in 2012, then decreased to Rs 335 per sq.ft in 2017, and has remained at Rs 500 per sq.ft since 2023.

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 Gooduvancheri Sub Registrar Office?

The Gooduvancheri Sub Registrar Office is located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvanchery-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, for a property valued at Rs 5,00,000, the stamp duty would be Rs 35,000 at 7%.