Guideline Value for LAKSHMI NAGAR

Lakshmi Nagar guideline value

The current guideline value of Lakshmi Nagar, located in Tharapakkam village under the Pammal SRO, is Rs 1,100 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

The guideline value for Lakshmi Nagar has seen several revisions over the years. The 2017 revision set the value at Rs 670 per sq.ft, which was increased to Rs 1,000 per sq.ft in the 2023 revision. The most recent revision in 2024 raised the guideline value to Rs 1,100 per sq.ft, marking a 10% increase from the previous year. Overall, from 2017 to 2024, the guideline value has increased by 64%.

The register has no figures for the years 2002, 2003, 2007, and 2012 for this street. This means that the only recorded revisions are from 2017, 2023, and 2024.

Guideline values in Tharapakkam

In Tharapakkam, there are 47 streets under the Pammal SRO that carry a 2024 guideline value ranging from Rs 880 to Rs 5,000 per sq.ft. The median value for these streets is Rs 1,100 per sq.ft, making Lakshmi Nagar's 2024 figure equal to this median.

• Lurudhu Ammal Nagar: Rs 1,100 per sq.ft (2024)
• Madha Koil Street: Rs 880 per sq.ft (2024)
• Mariamman Koil Street: Rs 1,100 per sq.ft (2024)
• Masilamani Garden: Rs 880 per sq.ft (2024)
• Mettu Street: Rs 880 per sq.ft (2024)
• M.G.R. Street: Rs 880 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 1,100 per sq.ft, the total guideline value amounts to Rs 11,00,000. The stamp duty at 7% would be Rs 77,000, and the registration fee at 2% would be Rs 22,000, bringing the total charges to Rs 99,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. For further calculations, 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 Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, under the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role during the registration of property transactions in Tharapakkam. It is used to determine the stamp duty and registration fees that need to be paid when a property is bought or sold.

When a buyer approaches the registration office, the guideline value is assessed to ensure that the correct fees are applied. This value serves as a benchmark for both buyers and sellers to understand the financial implications of their property transactions.

Frequently asked questions

What is the current guideline value of Lakshmi Nagar?

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

How has the guideline value changed over the years?

The guideline value has increased from Rs 670 per sq.ft in 2017 to Rs 1,100 per sq.ft in 2024, which is a total increase of 64% over this period.

What are the other streets in Tharapakkam and their guideline values?

Other streets in Tharapakkam include Lurudhu Ammal Nagar and Mariamman Koil Street, both valued at Rs 1,100 per sq.ft, while Madha Koil Street, Masilamani Garden, Mettu Street, and M.G.R. Street are valued at Rs 880 per sq.ft.

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

For a property valued at Rs 11,00,000 in Lakshmi Nagar, the stamp duty at 7% would be Rs 77,000, and the registration fee at 2% would be Rs 22,000, totaling Rs 99,000.

Which office handles the registration for Lakshmi Nagar?

The Pammal Sub Registrar Office handles the registration for Lakshmi Nagar, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075.