Guideline Value for LAKSHMI NAGAR - Periyar Street

LAKSHMI NAGAR - Periyar Street guideline value

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

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

The guideline value for LAKSHMI NAGAR - Periyar Street has undergone 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. By 2007, the value saw a significant increase to Rs 300 per sq.ft, reflecting a growth of 183%. The next revision in 2012 brought the guideline value to Rs 2,000 per sq.ft, a decrease of 33% from the previous figure. In 2017, the value increased to Rs 1,340 per sq.ft, which was a 49% rise from the 2012 revision. The most recent revisions occurred in 2023 and 2024, with the value rising from Rs 2,000 per sq.ft in 2023 to Rs 2,200 per sq.ft in 2024, a 10% increase.

Overall, from 2002 to 2024, the guideline value has increased by 2,192%. Notably, there are no figures available for the years not mentioned in the revisions for this street.

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 - Periyar Street is below this median.

• LAKSHMI NAGAR - Nehru Street: Rs 2,200 per sq.ft (2024)
• LAKSHMI NAGAR - M.G.R.Street: Rs 2,200 per sq.ft (2024)
• LAKSHMI NAGAR - Ponniamman Street: Rs 2,200 per sq.ft (2024)
• LAKSHMI NAGAR - Rajiv Gandhi Street: Rs 2,200 per sq.ft (2024)
• LAKSHMI NAGAR - Samayapurathamman Koil 1st Cross Street: Rs 2,200 per sq.ft (2024)
• LAKSHMI NAGAR - Samayapurathamman Koil street: Rs 2,200 per sq.ft (2024)

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

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value amounts to Rs 22,00,000. The stamp duty at 7% would be Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, bringing the total fees together to Rs 1,98,000. It is important to note that duty is charged on the higher of the guideline value and the sale price. For more details, you can use our stamp duty and registration fee calculator.

Which Sub Registrar Office covers LAKSHMI NAGAR - Periyar Street?

The Sub Registrar Office that covers LAKSHMI NAGAR - Periyar 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 in the registration process when buying or selling property 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 registering a property, the buyer must pay 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 in the area.

Frequently asked questions

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

The current guideline value of LAKSHMI NAGAR - Periyar 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 2,192% over the years.

What are the stamp duty and registration fees for property transactions?

The stamp duty is charged at 7% of the guideline value, while the registration fee is 2%. For example, for a 1,000 sq.ft plot, the total fees would amount to Rs 1,98,000.

Which Sub Registrar Office covers LAKSHMI NAGAR - Periyar Street?

The Virugambakkam Sub Registrar Office covers LAKSHMI NAGAR - Periyar Street, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.

What is the land classification for LAKSHMI NAGAR - Periyar Street?

LAKSHMI NAGAR - Periyar Street is classified as Residential Class V Type - I, indicating its designation for residential use within the area.