Guideline Value for LAKSHMAN AVENUE

Lakshman Avenue guideline value

The current guideline value of Lakshman Avenue is Rs 150 per sq.ft, effective from 1 July 2024. This street is located in Nayakkankuppam village under the Walajabad SRO, classified as Residential Class I Type - III.

How the guideline value of Lakshman Avenue has changed

Over the years, the guideline value of Lakshman Avenue has seen several revisions. The 2012 revision set the value at Rs 150 per sq.ft, which remained unchanged in the 2023 revision. However, the 2017 revision recorded a lower value of Rs 100 per sq.ft, indicating a decrease of 33% from the previous revision. The most recent 2024 revision has restored the value back to Rs 150 per sq.ft, showing no change from the previous year.

From 2017 to 2023, the guideline value increased by 50%. Overall, from 2012 to 2024, the guideline value has remained at Rs 150 per sq.ft, indicating stability in this period.

Guideline values in Nayakkankuppam

Nayakkankuppam village has a total of 23 streets under the Walajabad SRO that carry a 2024 guideline value, ranging from Rs 150 to Rs 403 per sq.ft. The median value for these streets is Rs 200 per sq.ft, placing Lakshman Avenue's 2024 figure below that median.

• MF Mithila: Rs 200 per sq.ft (2024)
• Mf Mithila Nagar: Rs 200 per sq.ft (2024)
• Golden City: Rs 150 per sq.ft (2024)
• Gain Nagar: Rs 150 per sq.ft (2024)
• Ezhilarasi Nagar Phase-III: Rs 250 per sq.ft (2024)
• Ezhilarasi Nagar Phase-II: Rs 250 per sq.ft (2024)

Stamp duty and registration fee for property in Lakshman Avenue

For a 1,000 sq.ft plot at the current guideline value of Rs 150 per sq.ft, the total guideline value amounts to Rs 1,50,000. The stamp duty, charged at 7%, is Rs 10,500, and the registration fee at 2% is Rs 3,000, bringing the total to Rs 13,500. 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 detailed calculations.

Which Sub Registrar Office covers Lakshman Avenue?

The Sub Registrar Office that covers Lakshman Avenue is the Walajabad Sub Registrar Office, located at Sriperumbudur Road, Walajabad-631 605, Chengalpattu registration zone. You can find your SRO for more information.

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

When buying or selling property in Nayakkankuppam, the guideline value is a crucial factor in determining the registration fees and stamp duty. The guideline value is used to assess the property’s value for these calculations, ensuring that the transaction is recorded accurately in the official register.

It is essential for buyers and sellers to be aware of the current guideline value, as it directly impacts the financial obligations during the registration process. Accurate knowledge of these values helps in making informed decisions during property transactions.

Frequently asked questions

What is the current guideline value of Lakshman Avenue?

The current guideline value of Lakshman Avenue is Rs 150 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has remained at Rs 150 per sq.ft in 2012, 2023, and 2024. It decreased to Rs 100 per sq.ft in 2017 before returning to Rs 150 per sq.ft in 2024.

What is the median guideline value in Nayakkankuppam?

The median guideline value in Nayakkankuppam is Rs 200 per sq.ft, with Lakshman Avenue's current value being below this median.

What are the stamp duty and registration fees for property in Lakshman Avenue?

For a 1,000 sq.ft plot, the total guideline value is Rs 1,50,000, leading to a stamp duty of Rs 10,500 and a registration fee of Rs 3,000, totaling Rs 13,500.

Which office handles property registrations for Lakshman Avenue?

The Walajabad Sub Registrar Office handles property registrations for Lakshman Avenue, located at Sriperumbudur Road, Walajabad-631 605, Chengalpattu registration zone.