Guideline Value for LAKSHMI NAGAR

Lakshmi Nagar guideline value

The current guideline value of Lakshmi Nagar, located in Ponneri_2 village under the Ponneri SRO, is Rs 700 per sq.ft as per the 2024 revision effective from 1 July 2024. This area falls under the Residential Class II Type - I land classification.

How the guideline value of Lakshmi Nagar has changed

In the 2017 revision, the guideline value was Rs 469 per sq.ft. This figure increased by 49% to Rs 700 per sq.ft in the 2023 revision, and it remained unchanged at Rs 700 per sq.ft in the 2024 revision. The register has no figures for the years 2002, 2003, 2007, and 2012 for this street.

Overall, from the 2017 revision to the 2024 revision, there has been a 49% increase in the guideline value. The consistent value of Rs 700 per sq.ft in both the 2023 and 2024 revisions indicates stability in the guideline value for this street.

Guideline values in Ponneri_2

In Ponneri_2, there are 75 streets under the Ponneri SRO that carry a 2024 guideline value ranging from Rs 700 to Rs 1,300 per sq.ft, with the median being Rs 700 per sq.ft. The guideline value of Lakshmi Nagar aligns with this median.

• Lakshmi Amman Kovil Street: Rs 700 per sq.ft (2024)
• Lucky Star City: Rs 700 per sq.ft (2024)
• Madhavan Road / Nagar: Rs 702 per sq.ft (2024)
• Kulakkarai Street: Rs 700 per sq.ft (2024)
• Madhina Palli Vasal: Rs 1,200 per sq.ft (2024)
• Krishnaswami Mudali Street: Rs 1,200 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 700 per sq.ft, the total guideline value amounts to Rs 7,00,000. The stamp duty at 7% would be Rs 49,000, and the registration fee at 2% would be Rs 14,000, making the total cost for these fees Rs 63,000. Duty is charged on the guideline value or the sale price, whichever is higher. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Lakshmi Nagar?

The Lakshmi Nagar area falls under the Ponneri Sub Registrar Office, located at 9/5, Taluk Office Road, Ponneri, Chennai-601204. You can find your SRO for more information.

How the guideline value is used when you buy or sell in Ponneri_2

The guideline value is a crucial factor in property transactions in Ponneri_2, as it determines the minimum value at which properties can be registered. When buying or selling property, this value is used to calculate the stamp duty and registration fees that must be paid during the transaction.

It is important for buyers and sellers to be aware of the current guideline value to ensure compliance with local regulations and to avoid any discrepancies during the registration process. This value serves as a benchmark for 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 700 per sq.ft as per the 2024 revision effective from 1 July 2024.

How has the guideline value changed over the years?

Since the 2017 revision, the guideline value has increased by 49% from Rs 469 per sq.ft to Rs 700 per sq.ft in 2023 and 2024. There are no figures available for the years 2002, 2003, 2007, and 2012 for this street.

What is the land classification for Lakshmi Nagar?

Lakshmi Nagar is classified under Residential Class II Type - I. This classification is important for determining the permissible uses of the land.

What is the registration fee for property in Lakshmi Nagar?

The registration fee for property in Lakshmi Nagar is calculated based on the guideline value. For example, for a plot valued at Rs 7,00,000, the registration fee would be Rs 14,000 at 2% of the guideline value.

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

The Ponneri Sub Registrar Office covers Lakshmi Nagar, located at 9/5, Taluk Office Road, Ponneri, Chennai-601204. This office handles all registration activities for the area.