Guideline Value for Sri Lakshmi Nagar

Sri Lakshmi Nagar guideline value

The current guideline value of Sri Lakshmi Nagar, located in Kolumanivakkam village under the Kunrathur SRO, is Rs 1,350 per sq.ft, effective from 1 July 2024. The land classification for this area is Mixed Special Type - I.

How the guideline value of Sri Lakshmi Nagar has changed

Over the years, the guideline value of Sri Lakshmi Nagar has seen several revisions. In 2007, the value was Rs 200 per sq.ft, which increased significantly to Rs 1,200 per sq.ft in 2012, marking a 500% rise. However, it then decreased to Rs 804 per sq.ft in 2017, showing a decline of 33%. The value rose again to Rs 1,200 per sq.ft in 2023, and currently stands at Rs 1,350 per sq.ft after a 13% increase in the 2024 revision.

From 2017 to 2023, the guideline value increased by 49%. Overall, from 2007 to 2024, there has been a substantial increase of 575% in the guideline value for Sri Lakshmi Nagar. The register does not have figures for the years 2002 and 2003 for this street.

Guideline values in Kolumanivakkam

In Kolumanivakkam, there are 47 streets under the Kunrathur SRO that have a guideline value for 2024, ranging from Rs 880 to Rs 3,290 per sq.ft. The median guideline value for these streets is Rs 1,350 per sq.ft, which is the same as the current value for Sri Lakshmi Nagar.

• Sri Maruthi Nagar: Rs 880 per sq.ft (2024)
• Sri Kamatchi Amman Nagar: Rs 1,350 per sq.ft (2024)
• Sri Kamachi Nagar: Rs 1,210 per sq.ft (2024)
• Srinath Nagar: Rs 1,930 per sq.ft (2024)
• Srinivasa Nagar: Rs 880 per sq.ft (2024)
• Sri Baleeswaran Koil Street: Rs 1,210 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 1,350 per sq.ft, the total guideline value amounts to Rs 13,50,000. The stamp duty at 7% would be Rs 94,500, and the registration fee at 2% would be Rs 27,000, bringing the total fees to Rs 1,21,500. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

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

Which Sub Registrar Office covers Sri Lakshmi Nagar?

The Sub Registrar Office covering Sri Lakshmi Nagar is the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069. You can find your SRO for more information.

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

The guideline value plays a crucial role during the registration of property transactions in Kolumanivakkam. When a property is bought or sold, the guideline value is used to determine the stamp duty and registration fees, ensuring that the transaction is recorded at a fair value as per government regulations.

Frequently asked questions

What is the current guideline value of Sri Lakshmi Nagar?

The current guideline value of Sri Lakshmi Nagar is Rs 1,350 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed multiple times, starting from Rs 200 per sq.ft in 2007 to Rs 1,350 per sq.ft in 2024, showing significant fluctuations over the years.

What is the land classification for Sri Lakshmi Nagar?

The land classification for Sri Lakshmi Nagar is Mixed Special Type - I, which indicates the type of development allowed in this area.

What are the stamp duty rates in Sri Lakshmi Nagar?

The stamp duty in Sri Lakshmi Nagar is charged at 7% of the guideline value or the sale price, whichever is higher, along with a registration fee of 2%.

Where can I find the Kunrathur Sub Registrar Office?

The Kunrathur Sub Registrar Office is located at No.59, Road Street, Kundrathur, Chennai -600 069, and you can find more details through the provided link.