Guideline Value for LAKSHMI NAGAR - Gandhi Street

LAKSHMI NAGAR - Gandhi Street guideline value

The current guideline value for LAKSHMI NAGAR - Gandhi Street is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Maduravoyal village, under the Virugambakkam SRO. The land classification for this area is Residential Class V Type - I.

How the guideline value of LAKSHMI NAGAR - Gandhi Street has changed

The guideline value for LAKSHMI NAGAR - Gandhi Street has seen several revisions over the years. In 2002, the guideline value was Rs 96 per sq.ft, which increased to Rs 106 per sq.ft in 2003, marking a 10% rise. Following this, a significant increase occurred, with the value jumping to Rs 300 per sq.ft in 2007, which is a 183% increase from the previous figure.

In the subsequent years, the guideline value fluctuated. It reached Rs 2,000 per sq.ft in 2012, reflecting a decrease of 33% from the 2007 revision. The value then remained at Rs 2,000 per sq.ft until 2017, when it increased to Rs 1,340 per sq.ft. This was followed by a substantial rise to Rs 2,000 per sq.ft in 2023, and finally, the current value of Rs 2,200 per sq.ft in 2024, which is a 10% increase from the previous year. The register has no figure for this street in the years not mentioned.

Guideline values in Maduravoyal

In Maduravoyal, there are 636 streets under the Virugambakkam SRO that carry a 2024 guideline value ranging from Rs 2,200 to Rs 6,050 per sq.ft, with a median value of Rs 3,050 per sq.ft. The guideline value for LAKSHMI NAGAR - Gandhi Street is below this median.

• LAKSHMI NAGAR - Giri Street: Rs 2,200 per sq.ft (2024)
• LAKSHMI NAGAR - Indira Gandhi Street: Rs 2,200 per sq.ft (2024)
• LAKSHMI NAGAR - Jeeeva Street: Rs 2,200 per sq.ft (2024)
• LAKSHMI NAGAR - Kaligambal Street: Rs 2,200 per sq.ft (2024)
• LAKSHMI NAGAR - Kamaraj street: Rs 2,200 per sq.ft (2024)
• LAKSHMI NAGAR - Kandan Cross Street: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in LAKSHMI NAGAR - Gandhi Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value would be Rs 22,00,000. The stamp duty at 7% would amount to Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, totaling Rs 1,98,000. It is important to note that duty is charged on the higher of the guideline value and the sale price. You can use our stamp duty and registration fee calculator for further assistance.

Which Sub Registrar Office covers LAKSHMI NAGAR - Gandhi Street?

The Sub Registrar Office that covers LAKSHMI NAGAR - Gandhi Street is the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037. You can find your SRO for more information.

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

The guideline value is a crucial factor when it comes to property registration in Maduravoyal. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is recorded accurately and transparently.

When buying or selling property, the guideline value helps in calculating the stamp duty and registration fees, which are mandatory costs associated with property transactions. This ensures that both the buyer and seller are aware of the financial implications involved in the transfer of property ownership.

Frequently asked questions

What is the current guideline value of LAKSHMI NAGAR - Gandhi Street?

The current guideline value of LAKSHMI NAGAR - Gandhi Street is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 96 per sq.ft in 2002 to Rs 2,200 per sq.ft in 2024, reflecting an overall increase of 2192% over the years.

What are the other streets in Maduravoyal with the same guideline value?

Other streets in Maduravoyal with the same guideline value of Rs 2,200 per sq.ft include LAKSHMI NAGAR - Giri Street, LAKSHMI NAGAR - Indira Gandhi Street, LAKSHMI NAGAR - Jeeeva Street, LAKSHMI NAGAR - Kaligambal Street, LAKSHMI NAGAR - Kamaraj street, and LAKSHMI NAGAR - Kandan Cross Street.

What is the registration fee for properties in LAKSHMI NAGAR - Gandhi Street?

The registration fee for properties in LAKSHMI NAGAR - Gandhi Street is 2% of the guideline value. For example, for a property valued at Rs 22,00,000, the registration fee would be Rs 44,000.

Where can I find the Sub Registrar Office for LAKSHMI NAGAR - Gandhi Street?

The Sub Registrar Office for LAKSHMI NAGAR - Gandhi Street is located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037. You can find more details by visiting the relevant link.