Guideline Value for LAKSHMI GARDEN

Lakshmi Garden guideline value

The current guideline value of Lakshmi Garden, located in Paruthipattu village under the Avadi SRO, is Rs 950 per sq.ft. This value is effective from 1 July 2024 and falls under the Residential Class II Type - I land classification.

How the guideline value of Lakshmi Garden has changed

The guideline value for Lakshmi Garden has undergone several revisions over the years. In 2002, the value was Rs 104 per sq.ft, which increased to Rs 120 per sq.ft in 2003, marking a 15% rise. The value then saw a significant increase to Rs 350 per sq.ft in 2007, representing a 192% change. By 2012, the value was adjusted to Rs 900 per sq.ft, a notable increase of 157% from the previous revision. However, in 2017, it decreased to Rs 603 per sq.ft, reflecting a 33% drop. The value rose again to Rs 900 per sq.ft in 2023, before reaching the current figure of Rs 950 per sq.ft in 2024, which is a 6% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 813%. The register does not contain figures for any other years for this street.

Guideline values in Paruthipattu

In Paruthipattu, there are 486 streets under the Avadi SRO that carry a 2024 guideline value ranging from Rs 801 to Rs 4,730 per sq.ft, with the median value being Rs 1,625 per sq.ft. The guideline value of Lakshmi Garden is below this median.

• Lakshmi Green City: Rs 1,540 per sq.ft (2024)
• Lakshmi Green City Phase 1: Rs 1,540 per sq.ft (2024)
• Lakshmi Main Road: Rs 990 per sq.ft (2024)
• Lakshmi Nagar 1st Street: Rs 950 per sq.ft (2024)
• Lakshmi Nagar, Govarthanagiri: Rs 1,625 per sq.ft (2024)
• Lakshmi Nagar Main Road: Rs 1,625 per sq.ft (2024)

Stamp duty and registration fee for property in Lakshmi Garden

For a 1,000 sq.ft plot at the current guideline value of Rs 950 per sq.ft, the total guideline value amounts to Rs 9,50,000. The stamp duty at 7% would be Rs 66,500, and the registration fee at 2% would be Rs 19,000, making a total of Rs 85,500. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can also use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Lakshmi Garden?

The Sub Registrar Office that covers Lakshmi Garden 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 Paruthipattu

The guideline value plays a crucial role during property transactions in Paruthipattu. It is used to determine the stamp duty and registration fees that must be paid when registering a 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 considered to ensure that the transaction is recorded accurately. This value helps in maintaining transparency and standardization in property transactions within the region.

Frequently asked questions

What is the current guideline value of Lakshmi Garden?

The current guideline value of Lakshmi Garden is Rs 950 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 104 per sq.ft in 2002 to Rs 950 per sq.ft in 2024, marking an overall increase of 813% over the years.

What is the stamp duty for property in Lakshmi Garden?

The stamp duty for property in Lakshmi Garden is 7% of the guideline value, which amounts to Rs 66,500 for a 1,000 sq.ft plot at the current rate.

Where is the Sub Registrar Office for Lakshmi Garden located?

The Sub Registrar Office for Lakshmi Garden is located at Plot No.145, Vii Street, Modern City, Thandurai Village, Avadi Taluk, Tiruvallur District, Chennai registration zone.

What is the land classification for Lakshmi Garden?

Lakshmi Garden falls under the Residential Class II Type - I land classification, indicating its suitability for residential purposes.