Guideline Value for LAKSHMI NAGAR PHASE-1

Lakshmi Nagar Phase-1 guideline value

The current guideline value of Lakshmi Nagar Phase-1 is Rs 130 per sq.ft. This area is located in Vengal village under the Arani_Tiruvallur SRO. The land classification for this street is Residential Class V Type - I.

How the guideline value of Lakshmi Nagar Phase-1 has changed

The guideline value for Lakshmi Nagar Phase-1 has remained at Rs 130 per sq.ft since the 2023 revision and continues to be the same in the 2024 revision, effective from 1 July 2024. Prior to this, in the 2017 revision, the guideline value was Rs 87 per sq.ft, marking a significant increase of 49% from 2017 to 2023 and an overall increase of 49% from 2017 to 2024.

The register has no figures for the years 2002, 2003, 2007, and 2012. Therefore, the only revisions with figures for this street are from 2017, 2023, and 2024.

Guideline values in Vengal

In Vengal, there are 9 streets under the Arani_Tiruvallur SRO that carry a 2024 guideline value ranging from Rs 130 to Rs 281 per sq.ft, with a median value of Rs 171 per sq.ft. Lakshmi Nagar Phase-1's 2024 figure is below this median.

• Nasic Nagar Phase-1: Rs 130 per sq.ft (2024)
• James Garden: Rs 241 per sq.ft (2024)
• Elumalai Nagar: Rs 150 per sq.ft (2024)
• R.R.B. Nagar: Rs 171 per sq.ft (2024)
• Annai Gomathi Nagar: Rs 200 per sq.ft (2024)
• Sri Nagathamman Nagar: Rs 281 per sq.ft (2024)

Stamp duty and registration fee for property in Lakshmi Nagar Phase-1

For a 1,000 sq.ft plot at the current rate of Rs 130 per sq.ft, the guideline value amounts to Rs 1,30,000. The stamp duty at 7% would be Rs 9,100, and the registration fee at 2% would be Rs 2,600, bringing the total to Rs 11,700. It is important to note that duty is charged on the higher of the guideline value or the sale price.

You can also use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Lakshmi Nagar Phase-1?

The Sub Registrar Office that covers Lakshmi Nagar Phase-1 is the Arani_Tiruvallur Sub Registrar Office. The address is No.10, S.p Kovil Street, Arani, Ponneri (tk), Thiruvallur (dt) - 601 101, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Vengal. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction.

When a property is registered, the guideline value is compared to the sale price, and the higher amount is used to calculate the stamp duty. This ensures that the fees reflect the actual value of the property being transferred.

Frequently asked questions

What is the current guideline value of Lakshmi Nagar Phase-1?

The current guideline value of Lakshmi Nagar Phase-1 is Rs 130 per sq.ft, effective from the 2024 revision.

How has the guideline value changed over the years?

The guideline value has remained at Rs 130 per sq.ft since the 2023 revision. It increased from Rs 87 per sq.ft in 2017 to Rs 130 per sq.ft in 2023, marking a 49% increase.

What is the land classification of Lakshmi Nagar Phase-1?

The land classification for Lakshmi Nagar Phase-1 is Residential Class V Type - I.

What are the stamp duty and registration fees for property in Lakshmi Nagar Phase-1?

For a property valued at Rs 1,30,000, the stamp duty would be Rs 9,100 and the registration fee would be Rs 2,600, totaling Rs 11,700.

Which office handles the registration for Lakshmi Nagar Phase-1?

The Arani_Tiruvallur Sub Registrar Office handles the registration for Lakshmi Nagar Phase-1, located at No.10, S.p Kovil Street, Arani, Ponneri (tk), Thiruvallur (dt) - 601 101.