Guideline Value for Aadhi Lakshmi Nagar Extension

Aadhi Lakshmi Nagar Extension guideline value

The current guideline value for Aadhi Lakshmi Nagar Extension is Rs 2,700 per sq.ft, effective from 1 July 2024. This area is located in Kolathur village and falls under the Sembiam SRO. The land classification for this street is Residential Class II Type - I.

How the guideline value of Aadhi Lakshmi Nagar Extension has changed

The guideline value for Aadhi Lakshmi Nagar Extension has undergone several revisions over the years. In 2003, the guideline value was Rs 267 per sq.ft, which increased significantly to Rs 700 per sq.ft in 2007, marking a change of +162%. By 2012, the value rose to Rs 2,500 per sq.ft, reflecting a substantial increase of +257% from the 2007 figure. There is no figure available for the years 2017 and 2023 for this street.

The most recent revision in 2024 set the guideline value at Rs 2,700 per sq.ft, which is an increase of +8% from the 2012 revision. Overall, the guideline value has increased by +911% from the 2003 figure to the current 2024 value.

Guideline values in Kolathur

In Kolathur, there are 879 streets under the Sembiam SRO that carry a 2024 guideline value, ranging from Rs 2,200 to Rs 6,000 per sq.ft. The median value for these streets is Rs 3,300 per sq.ft, indicating that Aadhi Lakshmi Nagar Extension's current value is below this median.

• Aadhinath Nagar: Rs 2,700 per sq.ft (2024)
• Aadhi Lakshmi Nagar: Rs 2,700 per sq.ft (2024)
• Abirami Nagar: Rs 2,700 per sq.ft (2024)
• Adi Ammal Thottam: Rs 2,700 per sq.ft (2024)
• Agasthiar Street: Rs 2,700 per sq.ft (2024)
• Agatheeswarar Nagar: Rs 2,700 per sq.ft (2024)

Stamp duty and registration fee for property in Aadhi Lakshmi Nagar Extension

For a 1,000 sq.ft plot at the current guideline value of Rs 2,700 per sq.ft, the total guideline value would be Rs 27,00,000. The stamp duty at 7% would amount to Rs 1,89,000, and the registration fee at 2% would be Rs 54,000, bringing the total to Rs 2,43,000. It is important to note that 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 details.

Which Sub Registrar Office covers Aadhi Lakshmi Nagar Extension?

The Aadhi Lakshmi Nagar Extension is covered by the Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011. You can find your SRO for additional information.

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

The guideline value is a crucial factor in property transactions in Kolathur, as it determines the minimum value at which a property can be registered. Buyers and sellers must consider this value when negotiating the sale price, as the registration fees and stamp duties are calculated based on the guideline value or the sale price, whichever is higher.

When buying or selling a property, it is essential to be aware of the current guideline value, as it influences the financial obligations associated with the transaction. Proper understanding of these values can help in making informed decisions during property dealings.

Frequently asked questions

What is the current guideline value for Aadhi Lakshmi Nagar Extension?

The current guideline value for Aadhi Lakshmi Nagar Extension is Rs 2,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 267 per sq.ft in 2003 to Rs 2,700 per sq.ft in 2024, representing an overall increase of +911% over the years.

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

The stamp duty is 7% and the registration fee is 2% of the guideline value. For a property valued at Rs 27,00,000, the total fees would amount to Rs 2,43,000.

Which Sub Registrar Office covers Aadhi Lakshmi Nagar Extension?

The Sembiam Sub Registrar Office covers Aadhi Lakshmi Nagar Extension, located at 5, Papermills Road, Sembiam, Chennai - 600011.

What is the land classification for Aadhi Lakshmi Nagar Extension?

The land classification for Aadhi Lakshmi Nagar Extension is Residential Class II Type - I.