Guideline Value for GUBERA LAKSHMI NAGAR

Gubera Lakshmi Nagar guideline value

The current guideline value of Gubera Lakshmi Nagar is Rs 103 per sq.ft, effective from 1 July 2024. This area is located in Vasanthavaadi village, under the Madurandakam Sub Registrar Office (SRO) jurisdiction, and is classified as Residential Special Type - I.

How the guideline value of Gubera Lakshmi Nagar has changed

Over the years, the guideline value of Gubera Lakshmi Nagar has seen several revisions. The 2012 revision set the value at Rs 100 per sq.ft, which was then reduced to Rs 67 per sq.ft in the 2017 revision. Following this, the value increased to Rs 100 per sq.ft in the 2023 revision, and currently stands at Rs 103 per sq.ft from the 2024 revision. Notably, the register has no figures for the years 2002, 2003, and 2007 for this street.

From 2012 to 2017, there was a decrease of 33%. However, from 2017 to 2023, the value increased significantly by 49%. The overall change from 2012 to 2024 shows a slight increase of 3%.

Guideline values in Vasanthavaadi

In Vasanthavaadi, there are five streets under the Madurandakam SRO that carry a 2024 guideline value, ranging from Rs 103 to Rs 200 per sq.ft. The median value among these streets is Rs 103 per sq.ft, which is equal to the guideline value of Gubera Lakshmi Nagar.

• Iswarya Garden: Rs 200 per sq.ft (2024)
• Muthu Nagar: Rs 103 per sq.ft (2024)
• Sri Lakshmi Nagar: Rs 103 per sq.ft (2024)
• Sri Lakshmi Nagar Phase-II: Rs 103 per sq.ft (2024)

Stamp duty and registration fee for property in Gubera Lakshmi Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 103 per sq.ft, the total guideline value amounts to Rs 1,03,000. The stamp duty at 7% would be Rs 7,210, and the registration fee at 2% would be Rs 2,060, bringing the total fees to Rs 9,270. 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 fees, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Gubera Lakshmi Nagar?

The Gubera Lakshmi Nagar area falls under the Madurandakam Sub Registrar Office, located at No.53, Old Taluk Office Road, Maduranthakam-603306, Chengalpattu registration zone. You can find your SRO for further assistance.

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

The guideline value is a crucial factor during the registration of property transactions in Vasanthavaadi. It helps determine the stamp duty and registration fees that buyers and sellers must pay when transferring ownership of a property.

When a property is sold, the guideline value serves as a reference point to ensure that the transaction is recorded accurately. Buyers should be aware that the fees are based on the higher of the guideline value or the sale price, ensuring compliance with local regulations.

Frequently asked questions

What is the current guideline value of Gubera Lakshmi Nagar?

The current guideline value of Gubera Lakshmi Nagar is Rs 103 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 100 per sq.ft in 2012 to Rs 67 per sq.ft in 2017, and then increased to Rs 100 per sq.ft in 2023, finally reaching Rs 103 per sq.ft in 2024.

What is the land classification of Gubera Lakshmi Nagar?

Gubera Lakshmi Nagar is classified as Residential Special Type - I, indicating its suitability for residential development.

Where is the Madurandakam Sub Registrar Office located?

The Madurandakam Sub Registrar Office is located at No.53, Old Taluk Office Road, Maduranthakam-603306, Chengalpattu registration zone.

How is the stamp duty calculated for properties in Gubera Lakshmi Nagar?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at Rs 103 per sq.ft would incur a total guideline value of Rs 1,03,000, leading to a stamp duty of Rs 7,210.