Guideline Value for LAKSHMI NAGAR/EXT

Lakshmi Nagar/Ext guideline value

The current guideline value for Lakshmi Nagar/Ext is Rs 330 per sq.ft, effective from 1 July 2024. This property is located in Vichoor_B village, under the Thiruvottiyur SRO, and is classified as Residential Class I Type - III.

How the guideline value of Lakshmi Nagar/Ext has changed

The guideline value for Lakshmi Nagar/Ext has seen several revisions over the years. The most recent revision in 2024 set the value at Rs 330 per sq.ft, an increase from Rs 300 per sq.ft in 2023, marking a change of 10%. Prior to that, in 2017, the value was Rs 201 per sq.ft, which means there was a significant increase of 49% from 2017 to 2023. Overall, from 2017 to the current 2024 figure, the guideline value has risen by 64%.

It is important to note that there are no figures available in the register for the years 2002, 2003, 2007, and 2012 for this street. Therefore, the only revisions we can reference are from 2017, 2023, and 2024.

Guideline values in Vichoor_B

In Vichoor_B village, there are 45 streets under the Thiruvottiyur SRO that carry a 2024 guideline value ranging from Rs 330 to Rs 550 per sq.ft, with a median value of Rs 485 per sq.ft. The guideline value for Lakshmi Nagar/Ext is below this median.

• Lakshmi Nagar All Phase: Rs 330 per sq.ft (2024)
• Kolaviziamman Nagar: Rs 330 per sq.ft (2024)
• Manjula Nagar: Rs 440 per sq.ft (2024)
• Meenakshi Nagar: Rs 330 per sq.ft (2024)
• Muthaalamman Nagar: Rs 330 per sq.ft (2024)
• Kamaraj Nagar: Rs 440 per sq.ft (2024)

Stamp duty and registration fee for property in Lakshmi Nagar/Ext

For a 1,000 sq.ft plot at the current rate of Rs 330 per sq.ft, the guideline value amounts to Rs 3,30,000. The stamp duty at 7% would be Rs 23,100, and the registration fee at 2% would be Rs 6,600, totaling Rs 29,700. Please note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Lakshmi Nagar/Ext?

The Sub Registrar Office that covers Lakshmi Nagar/Ext is the Thiruvottiyur Sub Registrar Office, located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Vichoor_B. It helps determine the stamp duty and registration fees that need to be paid during the transaction.

When a property is registered, the guideline value serves as a baseline for calculating these fees, ensuring that all transactions are conducted fairly and transparently. Buyers and sellers should be aware of the current guideline value to avoid any surprises during the registration process.

Frequently asked questions

What is the current guideline value for Lakshmi Nagar/Ext?

The current guideline value for Lakshmi Nagar/Ext is Rs 330 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

Since 2017, the guideline value has increased from Rs 201 per sq.ft to Rs 330 per sq.ft in 2024, which is a total increase of 64% over this period.

What are the stamp duty and registration fees for property in Lakshmi Nagar/Ext?

The stamp duty is 7% of the guideline value, and the registration fee is 2%. For a 1,000 sq.ft plot, the total stamp duty and registration fees would amount to Rs 29,700.

Which Sub Registrar Office covers the area of Lakshmi Nagar/Ext?

The Thiruvottiyur Sub Registrar Office covers Lakshmi Nagar/Ext, located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019.

How is the guideline value determined for properties in Vichoor_B?

The guideline value is determined based on various factors and is revised periodically by the Registration Department. It serves as a reference point for calculating stamp duty and registration fees during property transactions.