Guideline Value for Sri Lakshmi Nagar

Sri Lakshmi Nagar guideline value

The current guideline value of Sri Lakshmi Nagar, located in Puthagaram village under the Ambattur SRO, is Rs 1,900 per sq.ft, effective from 1 July 2024. This area falls under the Residential Class I Type - I land classification.

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 2012, the guideline value was Rs 1,800 per sq.ft. This figure decreased to Rs 1,206 per sq.ft in 2017, marking a decline of 33%. However, from 2017 to 2023, the value increased significantly to Rs 1,800 per sq.ft, reflecting a rise of 49%. The most recent revision in 2024 set the value at Rs 1,900 per sq.ft, an increase of 6% from the previous year.

It is important to note that there are no figures available for the years 2002, 2003, and 2007 for this street. Overall, the guideline value has increased by 6% from 2012 to 2024.

Guideline values in Puthagaram

Puthagaram village has a total of 140 streets under the Ambattur SRO, with guideline values ranging from Rs 1,200 to Rs 3,800 per sq.ft. The median value among these streets is Rs 1,900 per sq.ft, which is equal to the current guideline value of Sri Lakshmi Nagar.

• Sri Lakshmi amman Nagar: Rs 1,900 per sq.ft (2024)
• Sri Kumaran Nagar Extn.: Rs 1,900 per sq.ft (2024)
• Sri Kumaran Nagar: Rs 1,900 per sq.ft (2024)
• Sri Maha Devi Nagar: Rs 1,600 per sq.ft (2024)
• Sri Meenakshi Nagar: Rs 1,600 per sq.ft (2024)
• Sri Kamalam Nagar: Rs 1,900 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 1,900 per sq.ft, the total guideline value would be Rs 19,00,000. The stamp duty at 7% would amount to Rs 1,33,000, and the registration fee at 2% would be Rs 38,000, making the total cost for these fees Rs 1,71,000. 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 detailed calculations.

Which Sub Registrar Office covers Sri Lakshmi Nagar?

The Sub Registrar Office covering Sri Lakshmi Nagar is the Ambattur Sub Registrar Office, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone.

To find your SRO, visit find your SRO.

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

The guideline value is a crucial factor when registering property transactions in Puthagaram. It serves as a benchmark for determining the minimum value at which property can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling a property, the guideline value helps both parties understand the value of the property in relation to other similar properties in the area. It is essential for buyers to be aware of the guideline value to avoid overpaying for a property.

Frequently asked questions

What is the current guideline value of Sri Lakshmi Nagar?

The current guideline value of Sri Lakshmi Nagar is Rs 1,900 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,800 per sq.ft in 2012 to Rs 1,206 per sq.ft in 2017, then increased to Rs 1,800 per sq.ft in 2023, and finally to Rs 1,900 per sq.ft in 2024.

What is the land classification for Sri Lakshmi Nagar?

Sri Lakshmi Nagar is classified under Residential Class I Type - I, which indicates its suitability for residential purposes.

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

The Sub Registrar Office for Sri Lakshmi Nagar is the Ambattur Sub Registrar Office, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai 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, for a property valued at Rs 19,00,000, the stamp duty would be Rs 1,33,000.