Guideline Value for Sri lakshmi Nagar

Sri lakshmi Nagar guideline value

The current guideline value of Sri lakshmi Nagar, located in Oragadam village under the Ambattur SRO, is Rs 1,400 per sq.ft, effective from 1 July 2024. This property falls under the Residential Class III Type - I land classification.

How the guideline value of Sri lakshmi Nagar has changed

The guideline value for Sri lakshmi Nagar has seen significant changes over the years. In 2002, the value was Rs 178 per sq.ft, which increased to Rs 192 per sq.ft in 2003, marking an 8% rise. By 2007, the value jumped to Rs 400 per sq.ft, reflecting a substantial increase of 108%. The 2012 revision saw a further rise to Rs 1,300 per sq.ft, an increase of 225% from the previous revision. However, in 2017, the value decreased to Rs 871 per sq.ft, a decline of 33%. The value then rose to Rs 1,300 per sq.ft in 2023, before reaching the current figure of Rs 1,400 per sq.ft in 2024, which is an 8% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 687%. The register has no figure for revisions in the years not listed, so no estimates can be made for those periods.

Guideline values in Oragadam

In Oragadam, there are 596 streets under the Ambattur SRO that carry a 2024 guideline value ranging from Rs 1,100 to Rs 3,500 per sq.ft, with a median value of Rs 2,200 per sq.ft. The guideline value of Sri lakshmi Nagar is below this median.

• Srinivasan Street (V.L.Puram): Rs 2,400 per sq.ft (2024)
• Srinivasa Perumal Street (S.V.Nagar): Rs 1,600 per sq.ft (2024)
• Sivashanmugam Street (S.V.Nagar): Rs 1,600 per sq.ft (2024)
• Sivashanmugam Pillai Street: Rs 1,600 per sq.ft (2024)
• S.S.Koil Street: Rs 1,600 per sq.ft (2024)
• Sivaraman Street (Ram Nagar): Rs 2,400 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 1,400 per sq.ft, the total guideline value amounts to Rs 14,00,000. The stamp duty is charged at 7%, which would be Rs 98,000, and the registration fee at 2% would be Rs 28,000. Together, the total fees would amount to Rs 1,26,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Sri lakshmi Nagar?

The Sub Registrar Office that covers 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. You can find your SRO for more details.

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

The guideline value is a crucial factor in the registration process of property transactions in Oragadam. When buying or selling property, the guideline value is used to determine the stamp duty and registration fees applicable to the transaction. This ensures that the fees are calculated based on a standardized value set by the Registration Department.

It is essential for buyers and sellers to be aware of the current guideline value, as it directly impacts the costs associated with property registration. Understanding these values can help in making informed decisions during the transaction process.

Frequently asked questions

What is the current guideline value of Sri lakshmi Nagar?

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

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 178 per sq.ft in 2002 to Rs 1,400 per sq.ft in 2024, reflecting an overall increase of 687% over the years.

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

For a property valued at Rs 14,00,000, the stamp duty would be Rs 98,000 and the registration fee would be Rs 28,000, totaling Rs 1,26,000.

Which Sub Registrar Office covers Sri lakshmi Nagar?

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

Where can I find more information about guideline values in Oragadam?

More information about guideline values in Oragadam can be found in the Registration Department's guideline value register, which details the values for various streets in the area.