Guideline Value for LAKSHMI KATATCHAM NAGAR

Lakshmi Katatcham Nagar guideline value

The current guideline value of Lakshmi Katatcham Nagar is Rs 1,650 per sq.ft, effective from 1 July 2024. This area is located in Varadarajapuram village under the Padappai SRO, classified as Residential Special Type - II.

How the guideline value of Lakshmi Katatcham Nagar has changed

The guideline value for Lakshmi Katatcham Nagar has seen several revisions over the years. The 2012 revision set the value at Rs 1,500 per sq.ft, which was then reduced to Rs 1,005 per sq.ft in 2017. Following this, the 2023 revision increased the value to Rs 1,500 per sq.ft, and the latest revision in 2024 raised it further to Rs 1,650 per sq.ft, marking a 10% increase from the previous year.

From 2012 to 2017, there was a decrease of 33%, but from 2017 to 2023, the value increased significantly by 49%. Overall, from 2012 to 2024, the guideline value has increased by 10%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Varadarajapuram

In Varadarajapuram, there are 250 streets under the Padappai SRO, with the 2024 guideline values ranging from Rs 880 to Rs 4,100 per sq.ft. The median value is Rs 1,650 per sq.ft, which is equal to the current guideline value of Lakshmi Katatcham Nagar.

• Lakshmi Nagar: Rs 990 per sq.ft (2024)
• Lakshmi Nagar Extension III: Rs 1,980 per sq.ft (2024)
• Lakshmi Nagar Extention: Rs 3,300 per sq.ft (2024)
• LakshmiNarayana Avenue: Rs 990 per sq.ft (2024)
• Latheef Nagar: Rs 990 per sq.ft (2024)
• Leda: Rs 990 per sq.ft (2024)

Stamp duty and registration fee for property in Lakshmi Katatcham Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,650 per sq.ft, the total guideline value amounts to Rs 16,50,000. The stamp duty at 7% would be Rs 1,15,500, and the registration fee at 2% would be Rs 33,000, bringing the total cost together to Rs 1,48,500. It is essential to note that duty is charged on the higher of the guideline value or the sale price.

For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Lakshmi Katatcham Nagar?

The Sub Registrar Office that covers Lakshmi Katatcham Nagar is the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor when buying or selling property in Varadarajapuram, as it determines the minimum value at which properties are registered. This value is used to calculate stamp duty and registration fees, ensuring that these costs reflect the property's worth as per government standards.

When a property is sold, the guideline value helps establish the official sale price for registration purposes. Buyers and sellers must be aware of this value to understand the financial implications of their transactions accurately.

Frequently asked questions

What is the current guideline value of Lakshmi Katatcham Nagar?

The current guideline value of Lakshmi Katatcham Nagar is Rs 1,650 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,500 per sq.ft in 2012 to Rs 1,005 per sq.ft in 2017, then to Rs 1,500 per sq.ft in 2023, and finally to Rs 1,650 per sq.ft in 2024.

What is the land classification of Lakshmi Katatcham Nagar?

Lakshmi Katatcham Nagar is classified as Residential Special Type - II, indicating its designated use for residential purposes.

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

The Padappai Sub Registrar Office is located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone.

How is stamp duty calculated for properties in Lakshmi Katatcham Nagar?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 16,50,000, the stamp duty at 7% would be Rs 1,15,500.