Guideline Value for Sri Lakshmi Nagar

Sri Lakshmi Nagar guideline value

The current guideline value of Sri Lakshmi Nagar is Rs 200 per sq.ft, effective from 1 July 2024. This street is located in Eraiyur village, under the jurisdiction of the Sriperumpudur SRO, and is classified as Residential Class II Type - I.

How the guideline value of Sri Lakshmi Nagar has changed

The guideline value for Sri Lakshmi Nagar has seen several revisions over the years. In the 2007 revision, the value was set at Rs 40 per sq.ft, which increased significantly to Rs 200 per sq.ft in the 2012 revision. However, this value dropped to Rs 134 per sq.ft in the 2017 revision before rising again to Rs 200 per sq.ft in both the 2023 and 2024 revisions. The register has no figure for this street in 2002 and 2003.

From 2017 to 2023, there was a notable increase of 49%, while the value remained unchanged from 2023 to 2024. Overall, from 2007 to 2024, the guideline value has increased by 400%.

Guideline values in Eraiyur

In Eraiyur, there are 35 streets under the Sriperumpudur SRO that carry a 2024 guideline value, ranging from Rs 100 to Rs 471 per sq.ft. The median value is Rs 200 per sq.ft, which is equal to the current guideline value of Sri Lakshmi Nagar.

• Sri Ensamy Nagar: Rs 350 per sq.ft (2024)
• Sri Dhanalakshmi Nagar: Rs 200 per sq.ft (2024)
• Sri Ramachandra Nagar: Rs 350 per sq.ft (2024)
• Sri Vanmugil Avenue: Rs 300 per sq.ft (2024)
• Sumangali Nagar: Rs 350 per sq.ft (2024)
• Sumangali Nagar Extn: Rs 350 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 rate of Rs 200 per sq.ft, the guideline value amounts to Rs 2,00,000. The stamp duty at 7% would be Rs 14,000, and the registration fee at 2% would be Rs 4,000, totaling Rs 18,000. 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?

The Sub Registrar Office that covers Sri Lakshmi Nagar is the Sriperumpudur Sub Registrar Office, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a critical factor in the registration process for buying or selling property in Eraiyur. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is sold, the guideline value helps ensure that the transaction is recorded accurately and fairly. It is essential for buyers and sellers to be aware of the current guideline value to avoid any discrepancies during registration.

Frequently asked questions

What is the current guideline value of Sri Lakshmi Nagar?

The current guideline value of Sri Lakshmi Nagar is Rs 200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 40 per sq.ft in 2007 to Rs 200 per sq.ft in 2012, then dropped to Rs 134 per sq.ft in 2017, and returned to Rs 200 per sq.ft in both 2023 and 2024. Overall, it has increased by 400% from 2007 to 2024.

What is the land classification of Sri Lakshmi Nagar?

Sri Lakshmi Nagar is classified as Residential Class II Type - I, indicating its suitability for residential development.

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

The Sub Registrar Office for Sri Lakshmi Nagar is located at 27, Chetty Street, Sriperumpudur-602 105, 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 1,000 sq.ft plot at Rs 200 per sq.ft, the total guideline value is Rs 2,00,000, resulting in a stamp duty of Rs 14,000.