Guideline Value for LAKSHMI NAGAR

Lakshmi Nagar guideline value

The current guideline value of Lakshmi Nagar, located in Vellanoor-1 village under the Avadi SRO, is Rs 555 per sq.ft. This value is effective from the 2024 revision, which is classified as Residential Class I Type - I.

How the guideline value of Lakshmi Nagar has changed

In the 2023 revision, the guideline value for Lakshmi Nagar was Rs 500 per sq.ft. The 2024 revision has increased this figure to Rs 555 per sq.ft, marking an increase of 11% from the previous year. The register has no figures for the years 2002, 2003, 2007, 2012, and 2017 for this street.

As we look back at the revisions, the most recent figures show a consistent increase from the last recorded value. The guideline value for Lakshmi Nagar aligns with the median value of Rs 555 per sq.ft for the 34 streets in Vellanoor-1 under the Avadi SRO.

Guideline values in Vellanoor-1

In Vellanoor-1, the guideline values for various streets range from Rs 440 to Rs 1,980 per sq.ft, with a median of Rs 555 per sq.ft. Lakshmi Nagar's 2024 guideline value is equal to this median.

• Krishna Nagar: Rs 555 per sq.ft (2024)
• Kannappa Garden: Rs 550 per sq.ft (2024)
• Navasakthi Nagar: Rs 555 per sq.ft (2024)
• Navasakthi Nagar Annex: Rs 555 per sq.ft (2024)
• Jayalakshmi Nagar: Rs 555 per sq.ft (2024)
• Ganga Nagar Annex: Rs 555 per sq.ft (2024)

Stamp duty and registration fee for property in Lakshmi Nagar

For a 1,000 sq.ft plot at the current rate of Rs 555 per sq.ft, the guideline value amounts to Rs 5,55,000. The stamp duty at 7% would be Rs 38,850, and the registration fee at 2% would be Rs 11,100, totaling Rs 49,950. 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?

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 additional information.

How the guideline value is used when you buy or sell in Vellanoor-1

The guideline value plays a crucial role in property transactions in Vellanoor-1, as it is used to determine the stamp duty and registration fees applicable during the sale or purchase of property. Buyers and sellers must consider this value to ensure compliance with local regulations when registering property transactions.

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

Frequently asked questions

What is the current guideline value of Lakshmi Nagar?

The current guideline value of Lakshmi Nagar is Rs 555 per sq.ft, effective from the 2024 revision.

How much has the guideline value changed recently?

From the 2023 revision of Rs 500 per sq.ft, the guideline value increased by 11% to Rs 555 per sq.ft in the 2024 revision.

What are the other streets in Vellanoor-1 with similar guideline values?

Other streets in Vellanoor-1 with similar guideline values include Krishna Nagar, Navasakthi Nagar, and Jayalakshmi Nagar, all at Rs 555 per sq.ft in 2024.

What is the stamp duty and registration fee for a property in Lakshmi Nagar?

For a property valued at Rs 5,55,000, the stamp duty would be Rs 38,850 and the registration fee would be Rs 11,100, totaling Rs 49,950.

Where can I find my Sub Registrar Office?

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