Guideline Value for Sri Nagalakshmi Nagar

Sri Nagalakshmi Nagar guideline value

The current guideline value of Sri Nagalakshmi Nagar in Kobarasanallur village, under the Kunrathur SRO, is Rs 1,980 per sq.ft, effective from 1 July 2024. This area is classified as Mixed Special Type - II.

How the guideline value of Sri Nagalakshmi Nagar has changed

The guideline value for Sri Nagalakshmi Nagar has seen several revisions over the years. The 2007 revision set the value at Rs 1,000 per sq.ft, which increased to Rs 1,800 per sq.ft in 2012. However, there was a decrease to Rs 1,206 per sq.ft in 2017. The value then rose significantly to Rs 1,800 per sq.ft in 2023, and currently stands at Rs 1,980 per sq.ft from the 2024 revision.

In terms of percentage changes, the value increased by 80% from 2007 to 2012, decreased by 33% from 2012 to 2017, and then rose by 49% from 2017 to 2023. The latest increase from 2023 to 2024 is 10%. Overall, from 2007 to 2024, the guideline value has increased by 98%. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Kobarasanallur

In Kobarasanallur, there are 28 streets under the Kunrathur SRO that carry a 2024 guideline value ranging from Rs 1,650 to Rs 4,180 per sq.ft. The median value is Rs 1,980 per sq.ft, which is equal to the current guideline value of Sri Nagalakshmi Nagar.

• Sri Murugan Nagar: Rs 3,285 per sq.ft (2024)
• Sri Mookambikai Nagar: Rs 2,750 per sq.ft (2024)
• Sri Moogambigai Nagar Extn: Rs 2,750 per sq.ft (2024)
• Sri Neminath Nagar: Rs 1,650 per sq.ft (2024)
• Sri Devi Nagar: Rs 1,980 per sq.ft (2024)
• Sree Hari Nagar: Rs 2,750 per sq.ft (2024)

Stamp duty and registration fee for property in Sri Nagalakshmi Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,980 per sq.ft, the total guideline value would be Rs 19,80,000. The stamp duty at 7% would amount to Rs 1,38,600, and the registration fee at 2% would be Rs 39,600, bringing the total to Rs 1,78,200. 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 accurate calculations.

Which Sub Registrar Office covers Sri Nagalakshmi Nagar?

The Sub Registrar Office that covers Sri Nagalakshmi 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 Kobarasanallur

The guideline value is a crucial factor during the registration of property transactions in Kobarasanallur. It serves as a benchmark for determining the stamp duty and registration fees applicable to the property being bought or sold.

When a property is registered, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties and fees. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Sri Nagalakshmi Nagar?

The current guideline value of Sri Nagalakshmi Nagar is Rs 1,980 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,000 per sq.ft in 2007 to Rs 1,980 per sq.ft in 2024, reflecting an overall increase of 98% over the years.

What is the land classification of Sri Nagalakshmi Nagar?

Sri Nagalakshmi Nagar is classified as Mixed Special Type - II.

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

The Kunrathur Sub Registrar Office, which covers Sri Nagalakshmi Nagar, is located at No.59, Road Street, Kundrathur, Chennai -600 069.

How is the stamp duty calculated for properties in Sri Nagalakshmi Nagar?

The stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 19,80,000, the stamp duty would be Rs 1,38,600.