Guideline Value for LAKSHMI NAGAR - Jeeeva Street

LAKSHMI NAGAR - Jeeeva Street guideline value

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

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

The guideline value for LAKSHMI NAGAR - Jeeeva 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. Following this, the value rose significantly to Rs 300 per sq.ft in 2007, and then to Rs 2,000 per sq.ft in 2012. However, it dropped to Rs 1,340 per sq.ft in 2017 before climbing to Rs 2,000 per sq.ft in 2023. The most recent revision in 2024 set the value at Rs 2,200 per sq.ft.

The changes between these revisions are notable. From 2002 to 2024, the overall increase is 2,192%. The increase from 2017 to 2023 was 49%, while the value decreased by 33% from 2012 to 2017. The most significant increase occurred from 2007 to 2012, with a rise of 567%. The change from 2023 to 2024 was an increase of 10%.

Guideline values in Maduravoyal

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

• 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)
• LAKSHMI NAGAR - Kandan Street: Rs 2,200 per sq.ft (2024)
• LAKSHMI NAGAR - Kannaki Street: Rs 2,200 per sq.ft (2024)
• LAKSHMI NAGAR - Indira Gandhi Street: Rs 2,200 per sq.ft (2024)

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

For a 1,000 sq.ft plot at the current guideline value, the total guideline value is 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, bringing the total to Rs 1,98,000. 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 - Jeeeva Street?

The LAKSHMI NAGAR - Jeeeva Street falls under 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 plays a crucial role during the registration of property transactions in Maduravoyal. It is used to determine 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 to the sale price, and the higher of the two is used to calculate the applicable duties. This ensures that the government receives appropriate revenue from property transactions.

Frequently asked questions

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

The current guideline value of LAKSHMI NAGAR - Jeeeva 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 significantly from Rs 96 per sq.ft in 2002 to Rs 2,200 per sq.ft in 2024, representing an overall increase of 2,192%.

What is the registration office for LAKSHMI NAGAR - Jeeeva Street?

The registration office for LAKSHMI NAGAR - Jeeeva Street is the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.

How is stamp duty calculated for properties in LAKSHMI NAGAR - Jeeeva Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a 1,000 sq.ft plot at the current guideline value, the stamp duty would be Rs 1,54,000.

What are the guideline values of other streets in Maduravoyal?

Other streets in Maduravoyal, such as Kaligambal Street, Kamaraj Street, and others, have a guideline value of Rs 2,200 per sq.ft for 2024, which is the same as LAKSHMI NAGAR - Jeeeva Street.