Guideline Value for LAKSHMI NAGAR, GOVARTHANAGIRI

Lakshmi Nagar, Govarthanagiri guideline value

The current guideline value of Lakshmi Nagar, Govarthanagiri is Rs 1,625 per sq.ft, effective from 1 July 2024. This area falls under Paruthipattu village and is classified as Residential Special Type - I, with the Avadi SRO overseeing the registration processes.

How the guideline value of Lakshmi Nagar, Govarthanagiri has changed

The guideline value for Lakshmi Nagar has seen several revisions over the years. In 2012, the value was set at Rs 1,200 per sq.ft. This figure decreased to Rs 804 per sq.ft in 2017, marking a decline of 33%. However, from 2017 to 2023, the value increased significantly to Rs 1,500 per sq.ft, reflecting an increase of 87%. The most recent revision in 2024 has raised the guideline value to Rs 1,625 per sq.ft, an 8% increase from the previous year.

There are no figures available for the years 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has increased by 35%.

Guideline values in Paruthipattu

In Paruthipattu, there are 486 streets under the Avadi SRO with a 2024 guideline value ranging from Rs 801 to Rs 4,730 per sq.ft. The median value for these streets is Rs 1,625 per sq.ft, which is equal to the guideline value of Lakshmi Nagar.

• Lakshmi Nagar Main Road: Rs 1,625 per sq.ft (2024)
• Lakshmi Nagar 1st Street: Rs 950 per sq.ft (2024)
• Lakshmipuram, Govarthanagiri: Rs 1,625 per sq.ft (2024)
• Lakshmi Main Road: Rs 990 per sq.ft (2024)
• Lakshmi Green City Phase 1: Rs 1,540 per sq.ft (2024)
• Lakshmi Green City: Rs 1,540 per sq.ft (2024)

Stamp duty and registration fee for property in Lakshmi Nagar, Govarthanagiri

For a 1,000 sq.ft plot at the current guideline value of Rs 1,625 per sq.ft, the total guideline value amounts to Rs 16,25,000. The stamp duty, charged at 7%, would be Rs 1,13,750, and the registration fee at 2% would be Rs 32,500, bringing the total cost to Rs 1,46,250. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Lakshmi Nagar, Govarthanagiri?

The Sub Registrar Office that covers Lakshmi Nagar, Govarthanagiri is the Avadi Sub Registrar Office, located at Plot No.145, Vii Street, Modern City, Thandurai Village, Avadi Taluk, Tiruvallur District, Chennai registration zone.

You can find your SRO for more details.

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

The guideline value is an essential factor in the registration process for property transactions in Paruthipattu. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring that transactions are conducted at fair values.

When buying or selling property, the guideline value affects the calculation of stamp duty and registration fees, which are mandatory costs associated with property transactions. Buyers and sellers must be aware of these values to ensure compliance with legal requirements during registration.

Frequently asked questions

What is the current guideline value of Lakshmi Nagar, Govarthanagiri?

The current guideline value of Lakshmi Nagar, Govarthanagiri is Rs 1,625 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,200 per sq.ft in 2012 to Rs 1,625 per sq.ft in 2024, with significant changes occurring in 2017 and 2023.

What is the land classification for Lakshmi Nagar?

Lakshmi Nagar is classified as Residential Special Type - I, which indicates its suitability for residential development.

Where can I find the Sub Registrar Office for Lakshmi Nagar?

The Avadi Sub Registrar Office covers Lakshmi Nagar and is located at Plot No.145, Vii Street, Modern City, Thandurai Village, Avadi Taluk, Tiruvallur District, Chennai registration zone.

How is the stamp duty calculated for properties in Lakshmi Nagar?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, a property valued at Rs 16,25,000 would incur a stamp duty of Rs 1,13,750.