Guideline Value for LAKSHMI NAGAR

Lakshmi Nagar guideline value

The current guideline value of Lakshmi Nagar, located in Perumattu Nellore village under the Chengleput Joint II SRO, is Rs 800 per sq.ft, effective from 1 July 2024. The land classification for this area is Residential Special Type - I.

How the guideline value of Lakshmi Nagar has changed

Over the years, the guideline value of Lakshmi Nagar has seen several revisions. The most recent revision in 2024 set the value at Rs 800 per sq.ft, which is the same as the 2023 revision. The 2017 revision recorded a lower value of Rs 536 per sq.ft, indicating a significant increase of 49% from 2017 to 2023. The 2012 revision also set the value at Rs 800 per sq.ft, showing a decrease of 33% from the 2012 figure to the 2017 figure. Overall, from 2012 to 2024, the guideline value has remained unchanged at Rs 800 per sq.ft.

It is important to note that there are no recorded figures for the years 2002, 2003, and 2007 for this street. The fluctuations in the guideline value reflect the adjustments made over time, but the current value aligns with previous years' figures in 2023 and 2012.

Guideline values in Perumattu Nellore

In Perumattu Nellore, there are 83 streets under the Chengleput Joint II SRO that carry a 2024 guideline value ranging from Rs 500 to Rs 2,850 per sq.ft. The median value for these streets is Rs 700 per sq.ft, placing Lakshmi Nagar's 2024 figure above this median.

• Lakshmi Puram: Rs 800 per sq.ft (2024)
• Lavakusa Nagar: Rs 500 per sq.ft (2024)
• L.S.S. Anandham Avenue: Rs 500 per sq.ft (2024)
• Lss Vijay Avenue: Rs 800 per sq.ft (2024)
• Madras Garden: Rs 500 per sq.ft (2024)
• Krishna Nagar: Rs 500 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 800 per sq.ft, the total guideline value would be Rs 8,00,000. The stamp duty at 7% would amount to Rs 56,000, and the registration fee at 2% would be Rs 16,000, bringing the total to Rs 72,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for further calculations.

Which Sub Registrar Office covers Lakshmi Nagar?

The Sub Registrar Office that covers Lakshmi Nagar is the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor during property registration in Perumattu Nellore. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue through stamp duties and registration fees.

When buying or selling property, the guideline value helps both parties understand the legal valuation of the property. It is essential for buyers to be aware of the guideline value 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 800 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has remained at Rs 800 per sq.ft since 2023, with a significant increase of 49% from Rs 536 per sq.ft in 2017 to Rs 800 per sq.ft in 2023. The value was also Rs 800 per sq.ft in 2012.

Are there any years with no guideline value recorded for Lakshmi Nagar?

Yes, there are no recorded figures for Lakshmi Nagar in the years 2002, 2003, and 2007.

What is the median guideline value in Perumattu Nellore?

The median guideline value in Perumattu Nellore is Rs 700 per sq.ft, with Lakshmi Nagar's value being above this median at Rs 800 per sq.ft.

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

The Sub Registrar Office covering Lakshmi Nagar is the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002.