Guideline Value for Sri Lakshmi Nagar

Sri Lakshmi Nagar guideline value

The current guideline value of Sri Lakshmi Nagar is Rs 250 per sq.ft, effective from 1 July 2024. This area is located in Kolathur village, under the Sriperumpudur SRO, and is classified as Residential Class I Type - I.

How the guideline value of Sri Lakshmi Nagar has changed

In the 2012 revision, the guideline value was set at Rs 250 per sq.ft. This figure remained unchanged until the 2017 revision, where it decreased to Rs 167 per sq.ft, reflecting a reduction of 33%. The value then increased significantly to Rs 250 per sq.ft in the 2023 revision, marking a 50% rise from the 2017 figure. The current 2024 revision maintains this value at Rs 250 per sq.ft, showing no change from the previous year.

The register has no figures for the years 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has remained constant at Rs 250 per sq.ft.

Guideline values in Kolathur

In Kolathur, there are 45 streets under the Sriperumpudur SRO that carry a 2024 guideline value ranging from Rs 100 to Rs 1,300 per sq.ft, with a median value of Rs 250 per sq.ft. Sri Lakshmi Nagar's 2024 figure is equal to this median.

• Sri Kallazhagar City PH.I Extension: Rs 250 per sq.ft (2024)
• Sri Kallazhagar City phase I: Rs 250 per sq.ft (2024)
• Sri Kallazhagar city: Rs 250 per sq.ft (2024)
• Sri City: Rs 300 per sq.ft (2024)
• S.M. Nagar: Rs 300 per sq.ft (2024)
• Sivam Nagar: Rs 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 250 per sq.ft, the total guideline value amounts to Rs 2,50,000. The stamp duty at 7% would be Rs 17,500, and the registration fee at 2% would be Rs 5,000, totaling Rs 22,500. 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 detailed calculations.

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 Kolathur

The guideline value is a critical factor in the registration process for property transactions in Kolathur. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring that the registration fees and stamp duties are calculated appropriately.

When buying or selling property, the guideline value helps both parties understand the official valuation of the property. It is essential for buyers to be aware of the guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Sri Lakshmi Nagar?

The current guideline value of Sri Lakshmi Nagar is Rs 250 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen various changes: it was Rs 250 per sq.ft in 2012, dropped to Rs 167 per sq.ft in 2017, and then rose back to Rs 250 per sq.ft in 2023 and 2024.

What is the land classification for Sri Lakshmi Nagar?

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

Where is the Sub Registrar Office for Sri Lakshmi Nagar located?

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 at 7% of the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at Rs 250 per sq.ft has a total guideline value of Rs 2,50,000, leading to a stamp duty of Rs 17,500.