Guideline Value for LAKSHMI NAGAR (PA)

Lakshmi Nagar (Pa) guideline value

The current guideline value of Lakshmi Nagar (Pa) is Rs 440 per sq.ft, effective from 1 July 2024. This area is located in Kattankollatur village under the Chengleput Joint II SRO, classified as Residential Class II Type - II.

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

The guideline value for Lakshmi Nagar (Pa) has undergone several revisions over the years. The earliest recorded figure in the register is from 2012, which was Rs 400 per sq.ft. This was followed by a decrease to Rs 268 per sq.ft in 2017, and then an increase to Rs 400 per sq.ft in 2023. The latest revision in 2024 raised the value to Rs 440 per sq.ft, marking a 10% increase from the previous year.

Between the revisions, significant changes occurred. From 2012 to 2017, the value decreased by 33%. However, from 2017 to 2023, there was a notable increase of 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 Kattankollatur

Kattankollatur has a total of 453 streets under the Chengleput Joint II SRO, with guideline values ranging from Rs 440 to Rs 3,612 per sq.ft. The median value for these streets is Rs 1,100 per sq.ft, placing Lakshmi Nagar (Pa)'s 2024 figure below that median.

• K V Vines Nagar (Sa): Rs 440 per sq.ft (2024)
• Lingeswaran Nagar: Rs 1,980 per sq.ft (2024)
• Kuravanji Street (Ward -8): Rs 1,320 per sq.ft (2024)
• Kundalakesi Street (N): Rs 1,320 per sq.ft (2024)
• Madha Koil Street (Ward -18): Rs 660 per sq.ft (2024)
• Kumaranar Street (Ward -5): Rs 1,320 per sq.ft (2024)

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

For a 1,000 sq.ft plot at the current guideline value of Rs 440 per sq.ft, the total guideline value amounts to Rs 4,40,000. The stamp duty at 7% would be Rs 30,800, and the registration fee at 2% would be Rs 8,800, making the total cost for these fees Rs 39,600. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Lakshmi Nagar (Pa)?

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

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

The guideline value is an essential factor during the registration of property transactions in Kattankollatur. It serves as a benchmark for determining the stamp duty and registration fees that must be paid when buying or selling property in the area.

When a property is registered, the guideline value is compared with the sale price, and the higher of the two is used to calculate the applicable duties. This ensures that the government collects the appropriate fees based on the value of the property being transferred.

Frequently asked questions

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

The current guideline value of Lakshmi Nagar (Pa) is Rs 440 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 400 per sq.ft in 2012 to Rs 268 per sq.ft in 2017, then to Rs 400 per sq.ft in 2023, and finally to Rs 440 per sq.ft in 2024.

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

Lakshmi Nagar (Pa) is classified as Residential Class II Type - II.

Where can I find the Chengleput Joint II Sub Registrar Office?

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

How is the stamp duty calculated for properties in Lakshmi Nagar (Pa)?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, for a property valued at Rs 4,40,000, the stamp duty would be Rs 30,800 at a rate of 7%.