Guideline Value for Sri Lakshmi Nagar

Sri Lakshmi Nagar guideline value

The current guideline value of Sri Lakshmi Nagar is Rs 402 per sq.ft, effective from 1 July 2024. This area is located in Ponthoor village under the Sriperumpudur SRO and is classified as Residential Special Type - III.

How the guideline value of Sri Lakshmi Nagar has changed

The guideline value for Sri Lakshmi Nagar has undergone several revisions over the years. In 2007, the guideline value was Rs 70 per sq.ft, which saw a significant increase to Rs 400 per sq.ft in 2012. However, this value decreased to Rs 268 per sq.ft in 2017. The 2023 revision maintained the value at Rs 402 per sq.ft, and the same value continues into the 2024 revision, reflecting no change from the previous year.

From 2017 to 2023, the guideline value increased by 50%. The change from 2012 to 2017 was a decrease of 33%. The most notable change occurred from 2007 to 2012, which saw an increase of 471%. Overall, from 2007 to 2024, the guideline value has risen by 474%. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Ponthoor

Ponthoor village has 79 streets under the Sriperumpudur SRO, with guideline values ranging from Rs 200 to Rs 2,239 per sq.ft. The median guideline value in this area is Rs 300 per sq.ft, placing Sri Lakshmi Nagar's 2024 figure above that median.

• Sri krishna Nagar: Rs 500 per sq.ft (2024)
• Srinivasa Nagar: Rs 709 per sq.ft (2024)
• Sriperumpudur Chengalpattu Road: Rs 700 per sq.ft (2024)
• Sri Ram Nagar: Rs 300 per sq.ft (2024)
• Sree Balaji Nagar: Rs 1,195 per sq.ft (2024)
• Sps Nagar: Rs 600 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 402 per sq.ft, the total guideline value would be Rs 4,02,000. The stamp duty at 7% would amount to Rs 28,140, and the registration fee at 2% would be Rs 8,040, bringing the total cost to Rs 36,180. 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 further assistance.

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

When buying or selling property in Ponthoor, the guideline value plays a crucial role in determining the stamp duty and registration fees. The guideline value is the minimum value set by the government for property transactions, ensuring that the property is not sold below this threshold.

During the registration process, the buyer must pay the applicable stamp duty and registration fees based on the guideline value or the sale price, whichever is higher. This ensures transparency and helps in the accurate assessment of property transactions.

Frequently asked questions

What is the current guideline value of Sri Lakshmi Nagar?

The current guideline value of Sri Lakshmi Nagar is Rs 402 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 70 per sq.ft in 2007 to Rs 402 per sq.ft in 2024, with various revisions in between, including a decrease in 2017 and a significant increase from 2007 to 2012.

What is the land classification for Sri Lakshmi Nagar?

Sri Lakshmi Nagar is classified as Residential Special Type - III, indicating its designated use within the local planning framework.

What are the stamp duty and registration fees for properties in Sri Lakshmi Nagar?

For a property valued at Rs 4,02,000, the stamp duty would be Rs 28,140 and the registration fee would be Rs 8,040, totaling Rs 36,180.

Which office handles property registrations for Sri Lakshmi Nagar?

The Sriperumpudur Sub Registrar Office handles property registrations for Sri Lakshmi Nagar, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone.