Guideline Value for Sri Lakshmi Nagar

Sri Lakshmi Nagar guideline value

The current guideline value of Sri Lakshmi Nagar in Salamangalam village is Rs 400 per sq.ft, effective from 1 July 2024. This property falls under the jurisdiction of the Sriperumpudur SRO and is classified as Residential Class I Type - I.

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 value was Rs 200 per sq.ft, which increased to Rs 400 per sq.ft in 2012. However, it decreased to Rs 268 per sq.ft in 2017. The most recent revisions in 2023 and 2024 maintained the value at Rs 400 per sq.ft, showing no change between these two years.

From 2017 to 2023, there was a significant increase of 49%. The value remained stable from 2023 to 2024, with a 0% change. Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 100%.

Guideline values in Salamangalam

In Salamangalam, there are 59 streets under the Sriperumpudur SRO that carry a 2024 guideline value, ranging from Rs 200 to Rs 3,100 per sq.ft. The median value across these streets is Rs 500 per sq.ft, placing Sri Lakshmi Nagar's 2024 figure below this median.

• Sri Ganapathy Nagar Colony Extn: Rs 300 per sq.ft (2024)
• Sri Ganapathy Nagar Colony: Rs 300 per sq.ft (2024)
• Sri Durgai Sidhar Nagar: Rs 550 per sq.ft (2024)
• Sri Rama Anjineya Garden: Rs 600 per sq.ft (2024)
• Sri Balaji Avenue: Rs 1,500 per sq.ft (2024)
• Sri Sakthi Nagar: Rs 402 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 400 per sq.ft, the guideline value amounts to Rs 4,00,000. The stamp duty at 7% would be Rs 28,000, and the registration fee at 2% would be Rs 8,000, bringing the total to Rs 36,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator for more accurate calculations.

Which Sub Registrar Office covers Sri Lakshmi Nagar?

The Sub Registrar Office covering 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 Salamangalam

The guideline value is a crucial factor when registering property transactions in Salamangalam. It serves as a benchmark for determining the stamp duty and registration fees applicable during the sale or purchase of property.

When you buy or sell property, the guideline value helps ensure that the transaction is recorded accurately and fairly, reflecting the value of the property as determined by the government. This process helps maintain transparency in real estate transactions.

Frequently asked questions

What is the current guideline value of Sri Lakshmi Nagar?

The current guideline value of Sri Lakshmi Nagar is Rs 400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen various changes, from Rs 200 per sq.ft in 2007 to Rs 400 per sq.ft in 2012, then decreasing to Rs 268 per sq.ft in 2017, and finally stabilizing at Rs 400 per sq.ft in both 2023 and 2024.

What is the median guideline value in Salamangalam?

The median guideline value in Salamangalam is Rs 500 per sq.ft, which is higher than the current value of Sri Lakshmi Nagar.

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

For a property valued at Rs 4,00,000, the stamp duty is Rs 28,000 and the registration fee is Rs 8,000, totaling Rs 36,000.

Where can I find more information about the Sub Registrar Office?

The Sriperumpudur Sub Registrar Office, which covers Sri Lakshmi Nagar, is located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone. You can find more information by visiting the relevant link.