Guideline Value for LAKSHMAN NAGAR

Lakshman Nagar guideline value

The current guideline value of Lakshman Nagar is Rs 870 per sq.ft, effective from 1 July 2024. This area is located in Thiruninravur-B village, under the Avadi SRO, and is classified as Residential Class II Type - II.

How the guideline value of Lakshman Nagar has changed

The guideline value for Lakshman Nagar has seen several revisions over the years. The 2017 revision set the value at Rs 737 per sq.ft, which increased to Rs 800 per sq.ft in 2023. The most recent revision in 2024 raised the guideline value to Rs 870 per sq.ft, marking a 9% increase from the previous year. Overall, from 2017 to 2024, this represents an 18% increase.

There are no figures available for the years 2002, 2003, 2007, and 2012 for this street in the register.

Guideline values in Thiruninravur-B

In Thiruninravur-B, there are 374 streets under the Avadi SRO that carry a 2024 guideline value ranging from Rs 330 to Rs 1,760 per sq.ft, with a median value of Rs 770 per sq.ft. The guideline value of Lakshman Nagar is above this median.

• Kuttam Pall Streets: Rs 770 per sq.ft (2024)
• Kuppusamy Nagar: Rs 440 per sq.ft (2024)
• Lakshmi Nagar & Streets: Rs 1,400 per sq.ft (2024)
• Lakshminarayan Nagar: Rs 820 per sq.ft (2024)
• Lakshmipathy: Rs 770 per sq.ft (2024)
• Lakshmiprakash & Streets: Rs 1,400 per sq.ft (2024)

Stamp duty and registration fee for property in Lakshman Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 870 per sq.ft, the total guideline value would be Rs 8,70,000. The stamp duty at 7% would amount to Rs 60,900, while the registration fee at 2% would be Rs 17,400, bringing the total cost for these fees to Rs 78,300. 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 Lakshman Nagar?

The Sub Registrar Office that covers Lakshman Nagar is the Avadi Sub Registrar Office, located at Plot No.145, Vii Street, Modern City, Thandurai Village, Avadi Taluk, Tiruvallur District, Chennai registration zone. You can find your SRO for more information.

How the guideline value is used when you buy or sell in Thiruninravur-B

The guideline value is a crucial factor in the registration process of property transactions in Thiruninravur-B. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring transparency in property dealings.

When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees. These fees are based on the higher of the guideline value or the actual sale price, which helps in standardizing property transactions across the region.

Frequently asked questions

What is the current guideline value of Lakshman Nagar?

The current guideline value of Lakshman Nagar is Rs 870 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 737 per sq.ft in 2017 to Rs 870 per sq.ft in 2024, representing an overall increase of 18% over this period.

What is the land classification of Lakshman Nagar?

Lakshman Nagar is classified as Residential Class II Type - II, indicating its suitability for residential development.

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

For a property valued at Rs 8,70,000, the stamp duty would be Rs 60,900 and the registration fee would be Rs 17,400, totaling Rs 78,300.

Which Sub Registrar Office covers Lakshman Nagar?

The Avadi Sub Registrar Office covers Lakshman Nagar, located at Plot No.145, Vii Street, Modern City, Thandurai Village, Avadi Taluk, Tiruvallur District, Chennai registration zone.