Guideline Value for SriLakshmi Nagar

SriLakshmi Nagar guideline value

The current guideline value of SriLakshmi Nagar, located in Thirumanikuppam village under the Sunguvarchattram SRO, is Rs 200 per sq.ft, effective from 1 July 2024. The land classification for this area is Residential Special Type - I.

How the guideline value of SriLakshmi Nagar has changed

The guideline value for SriLakshmi Nagar has undergone several revisions over the years. The 2012 revision set the value at Rs 200 per sq.ft, which remained unchanged in the subsequent 2017 revision at Rs 134 per sq.ft, reflecting a decrease of 33%. However, from 2017 to 2023, the value increased by 49% to Rs 200 per sq.ft. The 2024 revision maintains this figure, showing no change from 2023.

It is important to note that the register has no figures for the years 2002, 2003, and 2007 concerning this street. Overall, comparing the 2012 and 2024 revisions, the guideline value has remained at Rs 200 per sq.ft, indicating stability over this period.

Guideline values in Thirumanikuppam

In Thirumanikuppam, there are 15 streets under the Sunguvarchattram SRO that carry a 2024 guideline value ranging from Rs 130 to Rs 200 per sq.ft, with a median value of Rs 181 per sq.ft. SriLakshmi Nagar's 2024 figure of Rs 200 per sq.ft is above this median.

• Sri Jayalakshmi nagar: Rs 200 per sq.ft (2024)
• Sri Balaji Nagar: Rs 200 per sq.ft (2024)
• Sri Annai Parasakthi Avenue: Rs 200 per sq.ft (2024)
• Thatko Colony: Rs 130 per sq.ft (2024)
• Vasinampattu Colony: Rs 130 per sq.ft (2024)
• Raja Maharaja Nagar: Rs 200 per sq.ft (2024)

Stamp duty and registration fee for property in SriLakshmi Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 200 per sq.ft, the total guideline value amounts to Rs 2,00,000. The stamp duty at 7% would be Rs 14,000, and the registration fee at 2% would be Rs 4,000, bringing the total fees to Rs 18,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information on calculating these fees, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers SriLakshmi Nagar?

The Sub Registrar Office covering SriLakshmi Nagar is the Sunguvarchattram Sub Registrar Office, located at Vadivamal Nagar Kandigai Road, Caparo Company Opp, Sunguvarchatram, Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value is a critical factor during the registration process when buying or selling property in Thirumanikuppam. It determines the minimum value on which stamp duty and registration fees are calculated, ensuring that these fees are based on a standardized valuation.

When a property is sold, the guideline value helps establish a fair basis for the transaction, providing transparency in the registration process. This ensures that both buyers and sellers are aware of the costs involved in the transfer of property ownership.

Frequently asked questions

What is the current guideline value of SriLakshmi Nagar?

The current guideline value of SriLakshmi Nagar is Rs 200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen various changes, with the most recent revision in 2024 maintaining it at Rs 200 per sq.ft. Notably, it decreased to Rs 134 per sq.ft in 2017 but rose again to Rs 200 per sq.ft by 2023.

What is the land classification for SriLakshmi Nagar?

SriLakshmi Nagar is classified as Residential Special Type - I. This classification affects the guideline value and the types of properties allowed in the area.

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

The Sub Registrar Office for SriLakshmi Nagar is located at Vadivamal Nagar Kandigai Road, Caparo Company Opp, Sunguvarchatram, Chengalpattu registration zone.

How is stamp duty calculated for properties in SriLakshmi Nagar?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft property at Rs 200 per sq.ft would incur a total guideline value of Rs 2,00,000, leading to stamp duty and registration fees based on this amount.