Guideline Value for SriLakshi Nagar

SriLakshi Nagar guideline value

The current guideline value of SriLakshi Nagar, located in Vada Mangalam village, is Rs 350 per sq.ft, effective from the 2024 revision. This property falls under the Residential Special Type - III land classification and is registered with the Sunguvarchattram SRO.

How the guideline value of SriLakshi Nagar has changed

The guideline value for SriLakshi Nagar has experienced several revisions over the years. In the 2012 revision, the value was set at Rs 350 per sq.ft. This figure remained unchanged until the 2017 revision, where it decreased to Rs 234 per sq.ft, marking a decline of 33%. However, from 2017 to 2023, the value increased by 50%, bringing it back to Rs 350 per sq.ft. The 2024 revision also maintains this value at Rs 350 per sq.ft, indicating no change from the previous year.

Between the revisions, the register has no figures for the years 2002, 2003, and 2007 for this street. Overall, the guideline value from 2012 to 2024 shows no change, remaining at Rs 350 per sq.ft.

Guideline values in Vada Mangalam

In Vada Mangalam, there are 23 streets under the Sunguvarchattram SRO with a 2024 guideline value ranging from Rs 200 to Rs 400 per sq.ft. The median value for these streets is Rs 250 per sq.ft, and SriLakshi Nagar's 2024 figure is above this median.

• Srinivasa Nagar: Rs 400 per sq.ft (2024)
• Sanarpandai Muslim Kudiiruppu: Rs 250 per sq.ft (2024)
• Thriuvalluvar Street: Rs 200 per sq.ft (2024)
• VGP Ramanujar Town Part I to IV: Rs 400 per sq.ft (2024)
• Periyapallaiyathamman Kovil Street: Rs 200 per sq.ft (2024)
• N.S.K Salai: Rs 350 per sq.ft (2024)

Stamp duty and registration fee for property in SriLakshi Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 350 per sq.ft, the total guideline value amounts to Rs 3,50,000. The stamp duty at 7% would be Rs 24,500, and the registration fee at 2% would be Rs 7,000, bringing the total fees to Rs 31,500. 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 details.

Which Sub Registrar Office covers SriLakshi Nagar?

SriLakshi Nagar is covered by the Sunguvarchattram Sub Registrar Office, located at Vadivamal Nagar Kandigai Road Caparo Company Opp, Sunguvarchatram, Chengalpattu registration zone. To find your SRO, visit find your SRO.

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

When buying or selling property in Vada Mangalam, the guideline value is a crucial factor during the registration process. It serves as a benchmark for determining the amount of stamp duty and registration fees applicable to the transaction.

The guideline value helps ensure that the property is registered at a fair value, reflecting the current market conditions. Buyers and sellers should be aware of the guideline value to avoid any discrepancies during registration.

Frequently asked questions

What is the current guideline value of SriLakshi Nagar?

The current guideline value of SriLakshi Nagar is Rs 350 per sq.ft, effective from the 2024 revision.

How has the guideline value changed over the years?

The guideline value has seen various changes, with the most recent revisions being Rs 350 per sq.ft in both 2023 and 2024, after a decrease to Rs 234 per sq.ft in 2017.

What is the land classification for SriLakshi Nagar?

SriLakshi Nagar is classified as Residential Special Type - III, which indicates its designated use for residential purposes.

What are the stamp duty and registration fees for property transactions?

For a property valued at Rs 3,50,000 in SriLakshi Nagar, the stamp duty would be Rs 24,500 and the registration fee would be Rs 7,000, totaling Rs 31,500.

Where can I find the Sub Registrar Office for SriLakshi Nagar?

The Sub Registrar Office for SriLakshi Nagar is located at Vadivamal Nagar Kandigai Road Caparo Company Opp, Sunguvarchatram, Chengalpattu registration zone. You can find your SRO by visiting the provided link.