Guideline Value for LAKSHMI NAGAR ANNEX

Lakshmi Nagar Annex guideline value

The current guideline value of Lakshmi Nagar Annex in Ikkadu village is Rs 400 per sq.ft, effective from 1 July 2024. This property falls under the Tiruvallur Joint 1 SRO and is classified as Residential Class II Type - II.

How the guideline value of Lakshmi Nagar Annex has changed

Over the years, the guideline value for Lakshmi Nagar Annex has seen several revisions. The earliest recorded revision is from 2012, where the value was Rs 400 per sq.ft. This was followed by a decrease to Rs 268 per sq.ft in 2017, marking a decline of 33%. However, from 2017 to 2023, there was a significant increase of 49%, bringing the value back to Rs 400 per sq.ft. The 2024 revision maintains this value, showing no change from the previous year.

It is important to note that the register has no figures for the years 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has remained unchanged at Rs 400 per sq.ft.

Guideline values in Ikkadu

In Ikkadu, there are 51 streets under the Tiruvallur Joint 1 SRO that carry a 2024 guideline value ranging from Rs 100 to Rs 1,400 per sq.ft. The median value is Rs 400 per sq.ft, which is equal to the guideline value of Lakshmi Nagar Annex.

• Lakshmi Nagar: Rs 400 per sq.ft (2024)
• Mahalakshmi Nagar- Teachers Mahalakshmi Nagar: Rs 500 per sq.ft (2024)
• Makka Nagar 1st street: Rs 300 per sq.ft (2024)
• Makka Nagar 2nd street: Rs 300 per sq.ft (2024)
• Makka Nagar 3rd street: Rs 300 per sq.ft (2024)
• Mandapam street: Rs 500 per sq.ft (2024)

Stamp duty and registration fee for property in Lakshmi Nagar Annex

For a 1,000 sq.ft plot at the current guideline value of Rs 400 per sq.ft, the total guideline value amounts to Rs 4,00,000. The stamp duty at 7% would be Rs 28,000, and the registration fee at 2% would be Rs 8,000, bringing the total charges to Rs 36,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Lakshmi Nagar Annex?

The Lakshmi Nagar Annex is covered by the Tiruvallur Joint 1 Sub Registrar Office, located at No.201, J.n.road, Taluk Office Compound, Thiruvallur-602001. You can find your SRO for more information.

How the guideline value is used when you buy or sell in Ikkadu

The guideline value is a crucial factor in the registration process when buying or selling property in Ikkadu. It determines the amount of stamp duty and registration fees that need to be paid, ensuring that the transaction is recorded accurately in the government register.

When a property is sold, the guideline value serves as a baseline for calculating the applicable charges. Buyers and sellers must be aware of the current guideline value to ensure compliance with legal requirements during the registration process.

Frequently asked questions

What is the current guideline value of Lakshmi Nagar Annex?

The current guideline value of Lakshmi Nagar Annex is Rs 400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has remained at Rs 400 per sq.ft in 2023 and 2024, while it was Rs 268 per sq.ft in 2017. The value also saw a decline from Rs 400 per sq.ft in 2012 to Rs 268 per sq.ft in 2017.

What are the stamp duty and registration fees for properties in Lakshmi Nagar Annex?

The stamp duty is charged at 7% and the registration fee at 2% of the guideline value. For a 1,000 sq.ft plot, the total charges would amount to Rs 36,000.

Which Sub Registrar Office is responsible for Lakshmi Nagar Annex?

The Tiruvallur Joint 1 Sub Registrar Office is responsible for Lakshmi Nagar Annex, located at No.201, J.n.road, Taluk Office Compound, Thiruvallur-602001.

What is the land classification of Lakshmi Nagar Annex?

Lakshmi Nagar Annex is classified as Residential Class II Type - II, indicating its suitability for residential development.