Guideline Value for LAKSHMI NAGAR

Lakshmi Nagar guideline value

The current guideline value of Lakshmi Nagar, located in Edayanchavadi village under the Thiruvottiyur SRO, is Rs 1,001 per sq.ft. This value is effective from 1 July 2024 and falls under the Residential Class I Type - I land classification.

How the guideline value of Lakshmi Nagar has changed

Over the years, the guideline value of Lakshmi Nagar has seen significant changes. The 2017 revision set the value at Rs 335 per sq.ft, which increased to Rs 1,000 per sq.ft in the 2023 revision. The most recent revision in 2024 has further raised this to Rs 1,001 per sq.ft. Notably, there are no figures available for the years 2002, 2003, 2007, and 2012 for this street.

From 2017 to 2023, the guideline value increased by 199%. The overall change from 2017 to 2024 also reflects a 199% increase. The 2024 figure of Rs 1,001 per sq.ft is consistent with the median guideline value for the 23 streets in Edayanchavadi that fall under the Thiruvottiyur SRO.

Guideline values in Edayanchavadi

In Edayanchavadi, the guideline values for 2024 range from Rs 1,000 to Rs 1,100 per sq.ft, with the median being Rs 1,001 per sq.ft. Lakshmi Nagar's 2024 figure aligns perfectly with this median.

• Lakshmikathammal Nagar: Rs 1,001 per sq.ft (2024)
• Lakshmi Nagar Extn: Rs 1,001 per sq.ft (2024)
• Manali New Town T N H B & C M D A: Rs 1,100 per sq.ft (2024)
• M.D. Avenue: Rs 1,001 per sq.ft (2024)
• Moideen Nagar: Rs 1,001 per sq.ft (2024)
• Kanaga Durga Nagar: Rs 1,001 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 1,001 per sq.ft, the total guideline value amounts to Rs 10,01,000. The stamp duty at 7% would be Rs 70,070, and the registration fee at 2% would be Rs 20,020, leading to a total of Rs 90,090. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Lakshmi Nagar?

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

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

The guideline value is an important factor in the registration process when buying or selling property in Edayanchavadi. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is registered, the guideline value is used to calculate the applicable charges. Buyers should be aware that the charges are based on the higher of the guideline value or the sale price, ensuring that the registration reflects the true value of the property.

Frequently asked questions

What is the current guideline value of Lakshmi Nagar?

The current guideline value of Lakshmi Nagar is Rs 1,001 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed since 2017?

Since 2017, the guideline value has increased by 199%, rising from Rs 335 per sq.ft to Rs 1,001 per sq.ft in 2024.

What is the land classification of Lakshmi Nagar?

Lakshmi Nagar is classified under Residential Class I Type - I, indicating its suitability for residential development.

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

For a property valued at Rs 10,01,000, the stamp duty would be Rs 70,070 and the registration fee would be Rs 20,020, totaling Rs 90,090.

Where is the Sub Registrar Office for Lakshmi Nagar located?

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