Guideline Value for LAKSHMI NAGAR (CHEN)

Lakshmi Nagar (Chen) guideline value

The current guideline value of Lakshmi Nagar (Chen) is Rs 880 per sq.ft, effective from 1 July 2024. This area is located in Sengundram - 1 village under the Chengleput Joint II SRO and is classified as Residential Class I Type - I.

How the guideline value of Lakshmi Nagar (Chen) has changed

The guideline value for Lakshmi Nagar (Chen) has undergone several revisions over the years. In 2012, the guideline value was set at Rs 800 per sq.ft, which then decreased to Rs 536 per sq.ft in 2017. However, from 2017 to 2023, there was a significant increase of 49%, bringing the value to Rs 800 per sq.ft. The most recent revision in 2024 saw a further increase of 10%, resulting in the current guideline value of Rs 880 per sq.ft.

It is important to note that there are no figures available for the revisions in 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Sengundram - 1

In Sengundram - 1, there are 126 streets under the Chengleput Joint II SRO, with guideline values ranging from Rs 660 to Rs 3,285 per sq.ft. The median value is Rs 880 per sq.ft, which is equal to the current guideline value for Lakshmi Nagar (Chen).

• Lakshmi Narasimman Nagar (Chen): Rs 770 per sq.ft (2024)
• Kunthanathar Nagar: Rs 880 per sq.ft (2024)
• Kundanathan Nagar Extn-2 (Chen): Rs 880 per sq.ft (2024)
• Maga Ganapathi Nagar (Chen): Rs 880 per sq.ft (2024)
• Kulakkarai Street (Chen): Rs 660 per sq.ft (2024)
• Malaimedu (Chen): Rs 660 per sq.ft (2024)

Stamp duty and registration fee for property in Lakshmi Nagar (Chen)

For a 1,000 sq.ft plot at the current guideline value of Rs 880 per sq.ft, the total guideline value would be Rs 8,80,000. The stamp duty, charged at 7%, would amount to Rs 61,600, while the registration fee at 2% would be Rs 17,600. Together, the total cost for stamp duty and registration would be Rs 79,200. It is important to note that duty is charged on the higher of the guideline value or the sale price.

You can also use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Lakshmi Nagar (Chen)?

The Sub Registrar Office that covers Lakshmi Nagar (Chen) is the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002, Chengalpattu registration zone. You can find your SRO for more information.

How the guideline value is used when you buy or sell in Sengundram - 1

The guideline value is a crucial factor when registering property in Sengundram - 1. It determines the minimum value at which a property can be sold or purchased, ensuring that both parties are aware of the official value assigned to the property by the government.

When a property transaction occurs, the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Lakshmi Nagar (Chen)?

The current guideline value of Lakshmi Nagar (Chen) is Rs 880 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 800 per sq.ft in 2012 to Rs 536 per sq.ft in 2017, then increased to Rs 800 per sq.ft in 2023, and finally to Rs 880 per sq.ft in 2024.

What is the land classification of Lakshmi Nagar (Chen)?

Lakshmi Nagar (Chen) is classified as Residential Class I Type - I.

What are the stamp duty and registration fees for property transactions?

The stamp duty is charged at 7% and the registration fee at 2% of the guideline value or sale price, whichever is higher.

Where can I find the Sub Registrar Office for Lakshmi Nagar (Chen)?

The Chengleput Joint II Sub Registrar Office is located at 10, Kancheepuram Main Road, Chengalpattu 603 002, Chengalpattu registration zone.