Guideline Value for Srigajalakshmi Nagar

Srigajalakshmi Nagar guideline value

The current guideline value of Srigajalakshmi Nagar is Rs 3,700 per sq.ft, effective from 1 July 2024. This area is located in 1. Nolambur village, under the Villivakkam SRO, and is classified as Residential Class II Type - I.

How the guideline value of Srigajalakshmi Nagar has changed

The guideline value for Srigajalakshmi Nagar has seen several revisions over the years. The 2017 revision set the value at Rs 2,345 per sq.ft, which increased to Rs 3,500 per sq.ft in 2023. The latest revision in 2024 raised the value further to Rs 3,700 per sq.ft, marking a 6% increase from the previous year. Overall, from 2017 to 2024, the guideline value has increased by 58%.

There are no figures available for the years 2002, 2003, 2007, and 2012 for this street. The changes between the revisions indicate a significant rise, particularly from 2017 to 2023, where the increase was 49%.

Guideline values in 1. Nolambur

In 1. Nolambur, there are 73 streets under the Villivakkam SRO that carry a 2024 guideline value ranging from Rs 3,300 to Rs 8,800 per sq.ft, with a median value of Rs 7,100 per sq.ft. The guideline value for Srigajalakshmi Nagar is below this median.

• S & P Garden: Rs 7,100 per sq.ft (2024)
• Sriram Nagar Main Road: Rs 7,100 per sq.ft (2024)
• S.R.R. Nagar: Rs 7,100 per sq.ft (2024)
• Sudsen Gems Park: Rs 7,100 per sq.ft (2024)
• Thattya Nagar: Rs 7,100 per sq.ft (2024)
• Sakthi Nagar & Streets: Rs 7,100 per sq.ft (2024)

Stamp duty and registration fee for property in Srigajalakshmi Nagar

For a 1,000 sq.ft plot at the current rate of Rs 3,700 per sq.ft, the guideline value amounts to Rs 37,00,000. The stamp duty at 7% would be Rs 2,59,000, and the registration fee at 2% would be Rs 74,000, bringing the total to Rs 3,33,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Srigajalakshmi Nagar?

Srigajalakshmi Nagar is covered by the Villivakkam Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037 (Near By Nolambur Eb Office). To find your SRO, visit find your SRO.

How the guideline value is used when you buy or sell in 1. Nolambur

The guideline value is a critical factor when registering property in 1. Nolambur. It determines the minimum value at which a property can be registered, ensuring that the government receives the appropriate stamp duty and registration fees based on this value.

When buying or selling property, the guideline value serves as a benchmark for transactions. It helps in assessing the fair value of the property and is crucial for legal documentation during the registration process.

Frequently asked questions

What is the current guideline value of Srigajalakshmi Nagar?

The current guideline value of Srigajalakshmi Nagar is Rs 3,700 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has increased from Rs 2,345 per sq.ft in 2017 to Rs 3,700 per sq.ft in 2024, marking a total increase of 58% over this period.

What are the stamp duty and registration fees for property in Srigajalakshmi Nagar?

For a 1,000 sq.ft plot, the total stamp duty and registration fees would amount to Rs 3,33,000, based on the current guideline value of Rs 3,700 per sq.ft.

Which Sub Registrar Office covers Srigajalakshmi Nagar?

The Villivakkam Sub Registrar Office covers Srigajalakshmi Nagar, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.

What is the land classification of Srigajalakshmi Nagar?

Srigajalakshmi Nagar is classified as Residential Class II Type - I, indicating its designation for residential purposes.