Guideline Value for LAKSHMI NAGAR PHASE-4

Lakshmi Nagar Phase-4 guideline value

The current guideline value of Lakshmi Nagar Phase-4 is Rs 2,970 per sq.ft. This area is located in Agaramthen village under the Tambaram Joint 1 SRO, classified as Mixed Special Type - I.

How the guideline value of Lakshmi Nagar Phase-4 has changed

The guideline value for Lakshmi Nagar Phase-4 has undergone several revisions over the years. The register does not contain figures for the years 2002, 2003, 2007, 2012, and 2017. In the 2023 revision, the guideline value was Rs 2,700 per sq.ft, which increased to Rs 2,970 per sq.ft in the 2024 revision, marking a 10% rise.

This increase reflects the updated valuation effective from 1 July 2024. The current guideline value is now higher than the previous year's figure, indicating a change in the assessment of property values in this area.

Guideline values in Agaramthen

Agaramthen village has a range of guideline values across its 125 streets under the Tambaram Joint 1 SRO. The 2024 figures vary from Rs 440 to Rs 3,700 per sq.ft, with a median value of Rs 830 per sq.ft. The guideline value for Lakshmi Nagar Phase-4 is above this median, indicating its relative position within the village.

• Lakshmi Nagar Phase - II: Rs 2,970 per sq.ft (2024)
• Lakshmi Nagar Phase - III: Rs 2,970 per sq.ft (2024)
• Lakshmi Nagar: Rs 2,970 per sq.ft (2024)
• Leo Avenue: Rs 2,860 per sq.ft (2024)
• Kurunji Nagar 4th Street 1st And 5th Cross Street: Rs 440 per sq.ft (2024)
• Kurunji Nagar 4th Street: Rs 440 per sq.ft (2024)

Stamp duty and registration fee for property in Lakshmi Nagar Phase-4

For a 1,000 sq.ft plot at the current guideline value of Rs 2,970 per sq.ft, the total guideline value would be Rs 29,70,000. The stamp duty at 7% would amount to Rs 2,07,900, and the registration fee at 2% would be Rs 59,400, leading to a total of Rs 2,67,300. 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 Phase-4?

The Sub Registrar Office that covers Lakshmi Nagar Phase-4 is the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor during property registration in Agaramthen. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring transparency in property transactions.

When buying or selling property, the guideline value helps in calculating the applicable stamp duty and registration fees. This ensures that both buyers and sellers are aware of the financial implications of the transaction based on the officially assessed value of the property.

Frequently asked questions

What is the current guideline value of Lakshmi Nagar Phase-4?

The current guideline value of Lakshmi Nagar Phase-4 is Rs 2,970 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed recently?

From the 2023 revision to the 2024 revision, the guideline value increased from Rs 2,700 per sq.ft to Rs 2,970 per sq.ft, which is a 10% increase.

What is the land classification of Lakshmi Nagar Phase-4?

Lakshmi Nagar Phase-4 is classified as Mixed Special Type - I according to the land classification standards in the area.

Where can I find the Tambaram Joint 1 Sub Registrar Office?

The Tambaram Joint 1 Sub Registrar Office is located at No.26, Mes Road, East Tambaram, Chennai-600059, in the Chengalpattu registration zone.

How is stamp duty calculated for properties in Lakshmi Nagar Phase-4?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at the current guideline value would incur a stamp duty of Rs 2,07,900.