Guideline Value for Srinivasan Nagar (Lakshmipuram Lay-out)

Srinivasan Nagar (Lakshmipuram Lay-out) guideline value

The current guideline value of Srinivasan Nagar (Lakshmipuram Lay-out) is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Peerklankaranai village and falls under the Tambaram Joint 1 SRO. The land classification for this area is Residential Special Type - I.

How the guideline value of Srinivasan Nagar (Lakshmipuram Lay-out) has changed

The guideline value for Srinivasan Nagar has seen several revisions over the years. The 2012 revision set the value at Rs 2,000 per sq.ft, which was then reduced to Rs 1,340 per sq.ft in the 2017 revision. Subsequently, the 2023 revision increased the value to Rs 2,000 per sq.ft, followed by a further increase to Rs 2,200 per sq.ft in the 2024 revision, marking a 10% rise from the previous year.

From 2012 to 2024, the overall change in the guideline value is an increase of 10%. The 2017 revision does not have a figure for this street, and there are no figures available for the years 2002, 2003, and 2007.

Guideline values in Peerklankaranai

In Peerklankaranai, there are 322 streets under the Tambaram Joint 1 SRO with a 2024 guideline value ranging from Rs 880 to Rs 4,400 per sq.ft. The median guideline value in this village is Rs 1,650 per sq.ft, placing the guideline value of Srinivasan Nagar (Lakshmipuram Lay-out) above that median.

• Srinivasa Nagar (sankaran street): Rs 1,650 per sq.ft (2024)
• Srinivasa Nagar: Rs 2,200 per sq.ft (2024)
• Srinivasa Ragavan Street: Rs 1,650 per sq.ft (2024)
• Sriram Nagar 1st Street: Rs 1,320 per sq.ft (2024)
• Sriram Nagar 2nd Street: Rs 1,320 per sq.ft (2024)
• Sriram Nagar 3rd Street: Rs 1,320 per sq.ft (2024)

Stamp duty and registration fee for property in Srinivasan Nagar (Lakshmipuram Lay-out)

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value amounts to Rs 22,00,000. The stamp duty at 7% would be Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, bringing the total cost for these fees to Rs 1,98,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use the stamp duty and registration fee calculator for more precise calculations based on your specific property details.

Which Sub Registrar Office covers Srinivasan Nagar (Lakshmipuram Lay-out)?

The Sub Registrar Office that covers Srinivasan Nagar (Lakshmipuram Lay-out) is the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Peerklankaranai. It is used to determine the stamp duty and registration fees that must be paid during the transaction.

When a property is registered, the guideline value is considered as a basis for calculating these fees, ensuring that both the buyer and seller are aware of the financial obligations involved in the transaction.

Frequently asked questions

What is the current guideline value of Srinivasan Nagar?

The current guideline value of Srinivasan Nagar (Lakshmipuram Lay-out) is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,000 per sq.ft in 2012 to Rs 1,340 per sq.ft in 2017, then to Rs 2,000 per sq.ft in 2023, and finally to Rs 2,200 per sq.ft in 2024.

What is the land classification for Srinivasan Nagar?

The land classification for Srinivasan Nagar (Lakshmipuram Lay-out) is Residential Special Type - I.

What are the stamp duty and registration fees for a property in this area?

For a property valued at Rs 22,00,000, the stamp duty would be Rs 1,54,000 and the registration fee would be Rs 44,000, totaling Rs 1,98,000.

Where can I find the Sub Registrar Office for this area?

The Sub Registrar Office for Srinivasan Nagar is the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059.