Guideline Value for LAKSHMI NAGAR

Lakshmi Nagar guideline value

The current guideline value of Lakshmi Nagar in Kilkondaiyur village is Rs 220 per sq.ft, effective from 1 July 2024. This area falls under the Avadi SRO and is classified as Residential Class I Type - III.

How the guideline value of Lakshmi Nagar has changed

The guideline value for Lakshmi Nagar has seen a revision from Rs 200 per sq.ft in 2023 to Rs 220 per sq.ft in 2024, marking a 10% increase. Prior to the 2023 revision, the register has no figures for this street for the years 2017, 2012, 2007, 2003, and 2002.

As we look back further, the guideline value of Lakshmi Nagar was not recorded in the revisions of 2017, 2012, 2007, 2003, and 2002. The most recent revision in 2024 reflects the current value of Rs 220 per sq.ft.

Guideline values in Kilkondaiyur

In Kilkondaiyur, there are five streets under the Avadi SRO with a 2024 guideline value ranging from Rs 220 to Rs 330 per sq.ft. The median value for these streets is Rs 275 per sq.ft, placing Lakshmi Nagar's guideline value below this median.

• Joy Nagar: Rs 330 per sq.ft (2024)
• Pon Vasantham Nagar: Rs 275 per sq.ft (2024)
• Sree Vari Nagar Phase-II: Rs 330 per sq.ft (2024)
• Sri Shanmuga Nagar: Rs 220 per sq.ft (2024)

Stamp duty and registration fee for property in Lakshmi Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 220 per sq.ft, the total guideline value amounts to Rs 2,20,000. The stamp duty at 7% would be Rs 15,400, and the registration fee at 2% would be Rs 4,400, making the total charges Rs 19,800. It is important to note that 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?

The Sub Registrar Office that covers Lakshmi Nagar 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 information.

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

The guideline value is a crucial factor during the registration of property transactions in Kilkondaiyur. It serves as a benchmark for determining the stamp duty and registration fees that must be paid when a property is bought or sold.

When registering a property, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Lakshmi Nagar?

The current guideline value of Lakshmi Nagar is Rs 220 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value increased from Rs 200 per sq.ft in 2023 to Rs 220 per sq.ft in 2024. There are no recorded figures for the years 2017, 2012, 2007, 2003, and 2002.

What are the guideline values of other streets in Kilkondaiyur?

Other streets in Kilkondaiyur have varying guideline values, with Joy Nagar at Rs 330 per sq.ft, Pon Vasantham Nagar at Rs 275 per sq.ft, Sree Vari Nagar Phase-II at Rs 330 per sq.ft, and Sri Shanmuga Nagar at Rs 220 per sq.ft.

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

For a property valued at Rs 2,20,000 in Lakshmi Nagar, the stamp duty would be Rs 15,400 and the registration fee would be Rs 4,400, totaling Rs 19,800.

Where is the Sub Registrar Office for Lakshmi Nagar located?

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