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 street is located in Panangottur 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 is from 2012, which was Rs 400 per sq.ft. This was followed by a decrease to Rs 268 per sq.ft in 2017. In the subsequent revisions, the value increased to Rs 400 per sq.ft in 2023, and finally to Rs 440 per sq.ft in 2024, marking a 10% increase from the previous year.

From 2017 to 2023, there was a significant increase of 49%, while the change from 2012 to 2017 saw a decrease of 33%. 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 Panangottur

In Panangottur, there are 419 streets under the Chengleput Joint II SRO that carry a 2024 guideline value ranging from Rs 440 to Rs 2,200 per sq.ft, with a median value of Rs 990 per sq.ft. The guideline value for Lakshmi Nagar (Pa) is below this median.

• K V Vines Nagar (Sa): Rs 440 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)
• Kumaragurubarar Street (Ward -4): 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 rate of Rs 440 per sq.ft, the 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 charges Rs 39,600. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more details.

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 more information.

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

The guideline value is a crucial factor during the registration of property transactions in Panangottur. It serves as a baseline for determining the stamp duty and registration fees that need to be paid when a property is bought or sold.

When registering a property, the buyer must pay the applicable stamp duty and registration fees based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions.

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, indicating its designated use for residential purposes.

What are the stamp duty and registration fees for property in Lakshmi Nagar (Pa)?

The stamp duty is 7%, and the registration fee is 2% of the guideline value. For a 1,000 sq.ft plot, the total charges would amount to Rs 39,600.

Which Sub Registrar Office covers Lakshmi Nagar (Pa)?

The Chengleput Joint II Sub Registrar Office covers Lakshmi Nagar (Pa), located at 10, Kancheepuram Main Road, Chengalpattu 603 002.