Guideline Value for LAKSHMI NARAYANA NAGAR

Lakshmi Narayana Nagar guideline value

The current guideline value of Lakshmi Narayana Nagar is Rs 100 per sq.ft, effective from 1 July 2024. This locality is situated in Neidavoyal village under the Ponneri Sub Registrar Office (SRO) and is classified as Residential Class II Type - I.

How the guideline value of Lakshmi Narayana Nagar has changed

The guideline value for Lakshmi Narayana Nagar has seen several revisions over the years. The earliest recorded figure is from the 2017 revision, which was Rs 67 per sq.ft. This value increased to Rs 100 per sq.ft in the 2023 revision, maintaining the same rate in the 2024 revision, reflecting a total increase of 49% from 2017 to 2024.

For the years 2002, 2003, 2007, and 2012, the register has no figure for this street. Notably, there was no change in the guideline value from 2023 to 2024, as it remained at Rs 100 per sq.ft.

Guideline values in Neidavoyal

In Neidavoyal, four streets under the Ponneri SRO carry a 2024 guideline value of Rs 100 per sq.ft, with the median also being Rs 100 per sq.ft. Lakshmi Narayana Nagar's 2024 figure is equal to this median.

• Gayathri Nagar: Rs 100 per sq.ft (2024)
• Fees Avenue Phase -I: Rs 100 per sq.ft (2024)
• Vasantham Nagar: Rs 100 per sq.ft (2024)

Stamp duty and registration fee for property in Lakshmi Narayana Nagar

For a 1,000 sq.ft plot at the current rate of Rs 100 per sq.ft, the guideline value amounts to Rs 1,00,000. The stamp duty at 7% would be Rs 7,000, and the registration fee at 2% would be Rs 2,000, totaling Rs 9,000. It is important to note that the 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 more details.

Which Sub Registrar Office covers Lakshmi Narayana Nagar?

The Ponneri Sub Registrar Office covers Lakshmi Narayana Nagar. The office is located at 9/5, Taluk Office Road, Ponneri, Chennai-601204. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Neidavoyal. It serves as a benchmark for calculating stamp duty and registration fees, ensuring that these costs are based on a standardized valuation.

When a property transaction occurs, the guideline value helps determine the official value for registration purposes. This ensures transparency and consistency in the property market, as all transactions are subject to the same valuation criteria.

Frequently asked questions

What is the current guideline value of Lakshmi Narayana Nagar?

The current guideline value of Lakshmi Narayana Nagar is Rs 100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 67 per sq.ft in 2017 to Rs 100 per sq.ft in 2023 and 2024, marking a total increase of 49% from 2017 to 2024.

Are there any years with no recorded guideline value for Lakshmi Narayana Nagar?

Yes, the register has no figure for Lakshmi Narayana Nagar for the years 2002, 2003, 2007, and 2012.

What is the stamp duty rate for property in Lakshmi Narayana Nagar?

The stamp duty rate for property in Lakshmi Narayana Nagar is 7% of the guideline value or the sale price, whichever is higher.

Where is the Sub Registrar Office for Lakshmi Narayana Nagar located?

The Ponneri Sub Registrar Office is located at 9/5, Taluk Office Road, Ponneri, Chennai-601204.