Guideline Value for LAKSHMI NAGAR - Subas Chandra Bose Street

LAKSHMI NAGAR - Subas Chandra Bose Street guideline value

The current guideline value for LAKSHMI NAGAR - Subas Chandra Bose 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 it falls under the Residential Class V Type - I land classification.

How the guideline value of LAKSHMI NAGAR - Subas Chandra Bose Street has changed

Over the years, the guideline value for LAKSHMI NAGAR - Subas Chandra Bose Street has seen significant changes. The register shows the following revisions: in 2002, the value was Rs 96 per sq.ft, which increased to Rs 106 per sq.ft in 2003. By 2007, it rose dramatically to Rs 300 per sq.ft, and then to Rs 2,000 per sq.ft in 2012. The value dropped to Rs 1,340 per sq.ft in 2017, before increasing to Rs 2,000 per sq.ft in 2023. The latest revision in 2024 set the guideline value at Rs 2,200 per sq.ft.

The changes between these revisions are notable. From 2002 to 2003, the increase was +10%. The value surged by +183% from 2003 to 2007, followed by a remarkable +567% from 2007 to 2012. However, there was a decrease of -33% from 2012 to 2017. The value then increased by +49% from 2017 to 2023, and finally, there was a +10% rise from 2023 to 2024. Overall, from 2002 to 2024, the guideline value has increased by +2192%.

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 - Subas Chandra Bose Street is below this median.

• LAKSHMI NAGAR - Suresh Street: Rs 2,200 per sq.ft (2024)
• LAKSHMI NAGAR - Venkateswara Street: Rs 2,200 per sq.ft (2024)
• LAKSHMI NAGAR - Venugopala Street: Rs 2,200 per sq.ft (2024)
• LAKSHMI NAGAR - Sivanthi Adiththanar Street: Rs 2,200 per sq.ft (2024)
• LAKSHMI NAGAR - Selva Viniyagar Koil Street: Rs 2,200 per sq.ft (2024)
• LAKSHMI NAGAR - Sasthri Street: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in LAKSHMI NAGAR - Subas Chandra Bose 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, while 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 the 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 more detailed calculations.

Which Sub Registrar Office covers LAKSHMI NAGAR - Subas Chandra Bose Street?

The LAKSHMI NAGAR - Subas Chandra Bose Street falls under the jurisdiction of 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 during the registration of property transactions in Maduravoyal. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid when buying or selling property in the area.

When a property is registered, the guideline value is compared with the sale price. The higher value is used to calculate the applicable duties and fees, ensuring that the transaction adheres to the regulations set forth by the Registration Department.

Frequently asked questions

What is the current guideline value for LAKSHMI NAGAR - Subas Chandra Bose Street?

The current guideline value for LAKSHMI NAGAR - Subas Chandra Bose 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, reflecting an overall increase of +2192% over this period.

What is the land classification for LAKSHMI NAGAR - Subas Chandra Bose Street?

This street falls under the Residential Class V Type - I land classification.

Where can I find the registration office for this street?

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

How are stamp duty and registration fees calculated?

Stamp duty and registration fees are calculated based on the higher of the guideline value or the sale price. For example, a 1,000 sq.ft plot at the current guideline value would incur total fees of Rs 1,98,000.