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 Sattamangalam village and falls 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 revision available is from 2012, which set the value at Rs 400 per sq.ft. This was followed by a decrease to Rs 268 per sq.ft in 2017. In 2023, the value increased to Rs 400 per sq.ft, and the latest revision in 2024 raised it further to Rs 440 per sq.ft.

From the 2017 revision to the 2023 revision, there was a significant increase of 49%. The change from 2023 to 2024 saw a 10% rise. 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 Sattamangalam

In Sattamangalam, there are 425 streets under the Chengleput Joint II SRO, with guideline values ranging from Rs 440 to Rs 2,200 per sq.ft. The median value for these streets is Rs 1,100 per sq.ft, placing Lakshmi Nagar (Pa)'s 2024 figure below this median.

• K V Vines Nagar (Sa): Rs 660 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 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, totaling Rs 39,600. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Lakshmi Nagar (Pa)?

The Sub Registrar Office that covers Lakshmi Nagar (Pa) 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 Sattamangalam

The guideline value is a crucial factor during the registration of property transactions in Sattamangalam. It serves as a benchmark for determining the stamp duty and registration fees applicable to the property being sold or purchased.

When a property is registered, the guideline value or the sale price is considered, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions, reflecting the prevailing market conditions.

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 back 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 suitability for residential development.

What are the stamp duty rates applicable in Lakshmi Nagar (Pa)?

The stamp duty rate in Lakshmi Nagar (Pa) is 7% of the guideline value or sale price, whichever is higher, along with a registration fee of 2%.

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

The Sub Registrar Office for Lakshmi Nagar (Pa) is located at 10, Kancheepuram Main Road, Chengalpattu 603 002, under the Chengleput Joint II registration zone.