Guideline Value for LAKSHMI NAGAR - Suresh Street

LAKSHMI NAGAR - Suresh Street guideline value

The current guideline value for LAKSHMI NAGAR - Suresh 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 - Suresh Street has changed

The guideline value for LAKSHMI NAGAR - Suresh Street has seen several revisions over the years. The earliest revision was in 2002, where the guideline value was Rs 96 per sq.ft. This increased to Rs 106 per sq.ft in 2003, marking a 10% rise. The value continued to rise significantly in subsequent years, reaching Rs 300 per sq.ft in 2007, which was a substantial increase of 183%. In 2012, the value was Rs 2,000 per sq.ft, reflecting a decrease of 33% from the previous revision. The value then remained at Rs 2,000 per sq.ft until 2017, when it increased to Rs 1,340 per sq.ft. The 2023 revision set the value at Rs 2,000 per sq.ft, and the most recent revision in 2024 raised it to Rs 2,200 per sq.ft, marking a 10% increase.

Overall, from 2002 to 2024, the guideline value has increased by 2,192%. The register has no figure for the years not listed above.

Guideline values in Maduravoyal

In Maduravoyal, there are 636 streets under the Virugambakkam SRO, with 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, making the current value for LAKSHMI NAGAR - Suresh Street below that median.

• LAKSHMI NAGAR - Subas Chandra Bose 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 - Suresh Street

For a 1,000 sq.ft plot at the current rate, the guideline value is 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, totaling 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. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers LAKSHMI NAGAR - Suresh Street?

The LAKSHMI NAGAR - Suresh Street is covered by 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 factor during the registration of property 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 sold, the guideline value serves as a reference point to ensure that the transaction is recorded accurately. Buyers and sellers should be aware of the current guideline value to understand the financial implications of their property transactions.

Frequently asked questions

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

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

What are the stamp duty and registration fees for property 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 registrations for LAKSHMI NAGAR - Suresh Street?

The Virugambakkam Sub Registrar Office handles registrations for LAKSHMI NAGAR - Suresh Street, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.

What is the median guideline value for streets in Maduravoyal?

The median guideline value for streets in Maduravoyal is Rs 3,050 per sq.ft, and LAKSHMI NAGAR - Suresh Street's current value is below this median.