Guideline Value for LAKSHMI NAGAR

Lakshmi Nagar guideline value

The current guideline value of Lakshmi Nagar is Rs 100 per sq.ft, effective from 1 July 2024. This area is located in Kalpakkam village and falls under the Ponneri Sub Registrar Office (SRO). The land classification for this street is Residential Class II Type - I.

How the guideline value of Lakshmi Nagar has changed

Looking at the revisions, the guideline value for Lakshmi Nagar was Rs 67 per sq.ft in the 2017 revision. It remained unchanged at Rs 100 per sq.ft in the 2023 revision and continues at Rs 100 per sq.ft in the 2024 revision, marking a 49% increase from 2017 to 2023. The register has no figures for the years 2002, 2003, 2007, and 2012.

From the 2017 revision to the 2024 revision, the guideline value has increased by 49%. The transition from 2023 to 2024 shows no change, maintaining the value at Rs 100 per sq.ft.

Guideline values in Kalpakkam

In Kalpakkam, there are 21 streets under the Ponneri SRO that carry a 2024 guideline value ranging from Rs 100 to Rs 100 per sq.ft, with the median also being Rs 100 per sq.ft. Lakshmi Nagar's 2024 figure aligns perfectly with this median.

• Leelavathy Nagar: Rs 100 per sq.ft (2024)
• M K M Nagar: Rs 100 per sq.ft (2024)
• Kalpakkam Garden: Rs 100 per sq.ft (2024)
• Muthu Nagar: Rs 100 per sq.ft (2024)
• Nagammal Nagar: Rs 100 per sq.ft (2024)
• Nalini Krishnan Nagar: Rs 100 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 100 per sq.ft, the total guideline value would be Rs 1,00,000. The stamp duty at 7% would amount to Rs 7,000, and the registration fee at 2% would be Rs 2,000, bringing the total fees to Rs 9,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can also use our stamp duty and registration fee calculator for more specific calculations.

Which Sub Registrar Office covers Lakshmi Nagar?

The Ponneri Sub Registrar Office covers Lakshmi Nagar, located at 9/5, Taluk Office Road, Ponneri, Chennai-601204, in the Chennai registration zone. For more information, you can find your SRO.

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

The guideline value is a critical factor during property registration in Kalpakkam. It serves as a benchmark for determining the minimum value at which a property can be sold or purchased, ensuring that the state receives the appropriate stamp duty and registration fees.

When buying or selling property, the guideline value helps in assessing the transaction's legitimacy and compliance with legal standards. It is essential for both buyers and sellers to be aware of the current guideline values to avoid discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Lakshmi Nagar?

The current guideline value of Lakshmi Nagar is Rs 100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value increased from Rs 67 per sq.ft in 2017 to Rs 100 per sq.ft in both 2023 and 2024, marking a 49% increase overall since 2017.

What is the registration office for Lakshmi Nagar?

The Ponneri Sub Registrar Office covers Lakshmi Nagar and is located at 9/5, Taluk Office Road, Ponneri, Chennai-601204.

How is 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, for a 1,000 sq.ft plot at Rs 100 per sq.ft, the stamp duty would be Rs 7,000.

Are there other streets with the same guideline value in Kalpakkam?

Yes, there are several other streets in Kalpakkam that also have a guideline value of Rs 100 per sq.ft in 2024, including Leelavathy Nagar, M K M Nagar, and others.