Guideline Value for LAKSHMI NAGAR

Lakshmi Nagar guideline value

The current guideline value of Lakshmi Nagar is Rs 1,980 per sq.ft, effective from 1 July 2024. This area is located in the village of Mangadu -A, under the Kunrathur SRO, and is classified as Residential Special Type - III.

How the guideline value of Lakshmi Nagar has changed

In the 2017 revision, the guideline value was Rs 1,340 per sq.ft. This figure increased to Rs 1,800 per sq.ft in the 2023 revision, marking a significant rise of 34%. The latest revision in 2024 has set the guideline value at Rs 1,980 per sq.ft, reflecting a 10% increase from the previous year.

Overall, from the 2017 revision to the 2024 revision, the guideline value has increased by 48%. There are no recorded figures for the years 2002, 2003, 2007, and 2012 for Lakshmi Nagar in the register.

Guideline values in Mangadu -A

In Mangadu -A, there are 208 streets under the Kunrathur SRO with a 2024 guideline value range from Rs 1,320 to Rs 3,300 per sq.ft. The median value is Rs 1,870 per sq.ft, placing Lakshmi Nagar's 2024 figure above this median.

• Kundrathur-Poonamallee Road: Rs 1,980 per sq.ft (2024)
• Mahalakshmi Nagar: Rs 2,530 per sq.ft (2024)
• Main Road Pattu: Rs 2,200 per sq.ft (2024)
• Kosatheru: Rs 2,200 per sq.ft (2024)
• Manali Ramakrishna Avenue: Rs 2,200 per sq.ft (2024)
• Manali Saravana Nagar: Rs 2,200 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 1,980 per sq.ft, the total guideline value amounts to Rs 19,80,000. The stamp duty at 7% would be Rs 1,38,600, and the registration fee at 2% would be Rs 39,600, bringing the total charges to Rs 1,78,200. 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 Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069. To find your SRO, you can visit find your SRO.

How the guideline value is used when you buy or sell in Mangadu -A

The guideline value plays a crucial role during property registration in Mangadu -A. It is used to determine the stamp duty and registration fees applicable when buying or selling property in the area.

When a property is registered, the charges are based on the guideline value or the sale price, whichever is higher. This ensures that the government receives appropriate revenue during property transactions.

Frequently asked questions

What is the current guideline value of Lakshmi Nagar?

The current guideline value of Lakshmi Nagar is Rs 1,980 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 48%, from Rs 1,340 per sq.ft in 2017 to Rs 1,980 per sq.ft in 2024.

What was the guideline value in 2023?

The guideline value of Lakshmi Nagar in 2023 was Rs 1,800 per sq.ft.

Which office handles property registration in Lakshmi Nagar?

The Kunrathur Sub Registrar Office handles property registration for Lakshmi Nagar, located at No.59, Road Street, Kundrathur, Chennai -600 069.

How is stamp duty calculated for properties in Lakshmi Nagar?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, for a property valued at Rs 19,80,000, the stamp duty would be Rs 1,38,600 at 7%.