Guideline Value for LAKSHMANA NAGAR C.B.I.COLONY

Lakshmana Nagar C.B.I.Colony guideline value

The current guideline value of Lakshmana Nagar C.B.I.Colony is Rs 5,500 per sq.ft, effective from 1 July 2024. This area is located in Perungudi village and falls under the Neelankarai SRO. The land classification for this locality is Residential Special Type - IV.

How the guideline value of Lakshmana Nagar C.B.I.Colony has changed

The guideline value has seen several revisions over the years. The earliest recorded figure is from 2007, where the value was Rs 1,000 per sq.ft. This increased significantly to Rs 5,000 per sq.ft in 2012, marking a 400% rise. However, in 2017, the value decreased to Rs 3,350 per sq.ft, reflecting a decline of 33%. The value then rose to Rs 5,000 per sq.ft in 2023, followed by a further increase to Rs 5,500 per sq.ft in 2024, which is a 10% rise from the previous year. The register has no figure for the years 2002 and 2003 for this street.

Overall, from 2007 to 2024, the guideline value has increased by 450%. The increase from 2017 to 2023 was 49%, and from 2012 to 2017, it was a decrease of 33%. The consistent upward trend in the recent years highlights the changing landscape of property values in this area.

Guideline values in Perungudi

In Perungudi, there are 249 streets under the Neelankarai SRO that carry a 2024 guideline value ranging from Rs 1,100 to Rs 8,800 per sq.ft, with a median value of Rs 3,300 per sq.ft. The guideline value of Lakshmana Nagar C.B.I.Colony is above this median.

• Lakshmanan Nagar & Main Road: Rs 5,500 per sq.ft (2024)
• Lakshmanan 2nd (Cross) Street: Rs 5,500 per sq.ft (2024)
• Lakshmanan 1st (Cross) Street: Rs 5,500 per sq.ft (2024)
• Kurunchi Nagar 9th Cross Street: Rs 3,300 per sq.ft (2024)
• Kurunchi Nagar 8th Cross Street: Rs 3,300 per sq.ft (2024)
• Kurunchi Nagar 7th Cross Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Lakshmana Nagar C.B.I.Colony

For a 1,000 sq.ft plot at the current guideline value of Rs 5,500 per sq.ft, the total guideline value would be Rs 55,00,000. The stamp duty at 7% would amount to Rs 3,85,000, and the registration fee at 2% would be Rs 1,10,000, bringing the total to Rs 4,95,000. It is important to note that duty is charged on the higher of the guideline value or the sale price. You can use our stamp duty and registration fee calculator for further assistance.

Which Sub Registrar Office covers Lakshmana Nagar C.B.I.Colony?

The Lakshmana Nagar C.B.I.Colony falls under the Neelankarai Sub Registrar Office, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone. To find your SRO, click here.

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

The guideline value is a crucial factor when registering property transactions in Perungudi. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the sale or purchase of property. Buyers and sellers must be aware of the current guideline value to ensure compliance with local regulations.

When a property is sold, the guideline value is used to calculate the applicable charges, which can significantly affect the overall cost of the transaction. It is essential for both parties to be informed about the guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Lakshmana Nagar C.B.I.Colony?

The current guideline value of Lakshmana Nagar C.B.I.Colony is Rs 5,500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen several revisions, starting from Rs 1,000 per sq.ft in 2007 to Rs 5,500 per sq.ft in 2024, reflecting a significant overall increase of 450% over the years.

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

For a property valued at Rs 55,00,000, the stamp duty would be Rs 3,85,000 and the registration fee would be Rs 1,10,000, totaling Rs 4,95,000.

Which office handles property registration in Lakshmana Nagar C.B.I.Colony?

The Neelankarai Sub Registrar Office handles property registration for Lakshmana Nagar C.B.I.Colony, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.

What is the land classification for Lakshmana Nagar C.B.I.Colony?

The land classification for Lakshmana Nagar C.B.I.Colony is Residential Special Type - IV, indicating its designated use for residential purposes.