Guideline Value for LAKSHMI NAGAR - Selva Viniyagar Koil Street

LAKSHMI NAGAR - Selva Viniyagar Koil Street guideline value

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

How the guideline value of LAKSHMI NAGAR - Selva Viniyagar Koil Street has changed

The guideline value for LAKSHMI NAGAR - Selva Viniyagar Koil Street has seen several revisions over the years. The earliest recorded figure is from 2002, which was Rs 96 per sq.ft. This increased to Rs 106 per sq.ft in 2003, marking a 10% rise. The value then surged significantly to Rs 300 per sq.ft in 2007, reflecting an increase of 183%. In 2012, the guideline value was Rs 2,000 per sq.ft, which was a substantial increase of 567% from the previous revision. However, it dropped to Rs 1,340 per sq.ft in 2017, representing a decrease of 33%.

In 2023, the value rose to Rs 2,000 per sq.ft, and the most recent revision in 2024 set it at Rs 2,200 per sq.ft, showing a 10% increase. Overall, from 2002 to 2024, the guideline value has increased by 2,192% for this street.

Guideline values in Maduravoyal

In Maduravoyal, there are 636 streets under the Virugambakkam SRO that have 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 - Selva Viniyagar Koil Street is below this median.

• LAKSHMI NAGAR - Sasthri Street: Rs 2,200 per sq.ft (2024)
• LAKSHMI NAGAR - Sivanthi Adiththanar Street: Rs 2,200 per sq.ft (2024)
• LAKSHMI NAGAR - Samayapurathamman Koil street: Rs 2,200 per sq.ft (2024)
• LAKSHMI NAGAR - Samayapurathamman Koil 1st Cross Street: Rs 2,200 per sq.ft (2024)
• LAKSHMI NAGAR - Rajiv Gandhi Street: Rs 2,200 per sq.ft (2024)
• LAKSHMI NAGAR - Ponniamman Street: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in LAKSHMI NAGAR - Selva Viniyagar Koil 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, making the total cost for these fees Rs 1,98,000. 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 - Selva Viniyagar Koil Street?

The Sub Registrar Office that covers LAKSHMI NAGAR - Selva Viniyagar Koil 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 an important reference for property transactions in Maduravoyal. It is used to determine the minimum value at which a property can be registered, ensuring that the transaction is recorded accurately for taxation purposes.

When buying or selling property, the guideline value helps in calculating the applicable stamp duty and registration fees, which are necessary for the legal transfer of property ownership. This ensures that both the buyer and seller are aware of the financial obligations involved in the transaction.

Frequently asked questions

What is the current guideline value of LAKSHMI NAGAR - Selva Viniyagar Koil Street?

The current guideline value for LAKSHMI NAGAR - Selva Viniyagar Koil 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%.

What are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 22,00,000, the stamp duty would be Rs 1,54,000 and the registration fee would be Rs 44,000, totaling Rs 1,98,000.

Which office handles property registrations for LAKSHMI NAGAR - Selva Viniyagar Koil Street?

The Virugambakkam Sub Registrar Office handles property registrations for LAKSHMI NAGAR - Selva Viniyagar Koil Street.

What land classification does this street fall under?

LAKSHMI NAGAR - Selva Viniyagar Koil Street falls under the Residential Class V Type - I land classification.