Guideline Value for LAKSHMI NARASHIMAN STREET

Lakshmi Narashiman Street guideline value

The current guideline value of Lakshmi Narashiman Street is Rs 7,700 per sq.ft, effective from 1 July 2024. This street is located in Tnagar village, under the Thiyagaraya nagar SRO, and is classified as Residential Class II Type - II.

How the guideline value of Lakshmi Narashiman Street has changed

In the 2007 revision, the guideline value was Rs 2,000 per sq.ft. This increased significantly to Rs 7,000 per sq.ft in the 2012 revision, marking a 250% rise. However, in the 2017 revision, the value decreased to Rs 4,690 per sq.ft, reflecting a 33% drop. The value then rose to Rs 7,000 per sq.ft in the 2023 revision, which was a 49% increase, before reaching the current value of Rs 7,700 per sq.ft in the 2024 revision, representing a 10% increase.

There are no figures available for the years 2002 and 2003 in the register for this street.

Guideline values in Tnagar

In Tnagar, there are 262 streets under the Thiyagaraya nagar SRO with a 2024 guideline value range from Rs 4,400 to Rs 27,500 per sq.ft. The median value is Rs 11,000 per sq.ft, placing Lakshmi Narashiman Street's 2024 figure below that median.

• Lala Garden: Rs 11,000 per sq.ft (2024)
• Lakshmikanthan Street: Rs 6,600 per sq.ft (2024)
• Lakshmi Colony: Rs 6,600 per sq.ft (2024)
• Lakshmana Chetty Street: Rs 5,500 per sq.ft (2024)
• Lodikhan Road: Rs 7,700 per sq.ft (2024)
• Kuppuswamy Street: Rs 6,600 per sq.ft (2024)

Stamp duty and registration fee for property in Lakshmi Narashiman Street

For a 1,000 sq.ft plot at the current guideline value of Rs 7,700 per sq.ft, the total guideline value would be Rs 77,00,000. The stamp duty at 7% would amount to Rs 5,39,000, while the registration fee at 2% would be Rs 1,54,000, bringing the total fees to Rs 6,93,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Lakshmi Narashiman Street?

The Sub Registrar Office covering Lakshmi Narashiman Street is the Thiyagaraya nagar Sub Registrar Office, located at 27/14, Vetnari Hospital Road, Panpet Nandhanam, Chennai-35. You can find your SRO for further assistance.

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

The guideline value is a crucial factor during the registration of property transactions in Tnagar. It serves as a benchmark for determining the stamp duty and registration fees applicable to a property sale.

When you buy or sell property, the guideline value helps ensure that the transaction is recorded accurately and that the appropriate fees are collected by the government. Buyers should be aware of the current guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Lakshmi Narashiman Street?

The current guideline value of Lakshmi Narashiman Street is Rs 7,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen several revisions, from Rs 2,000 per sq.ft in 2007 to Rs 7,700 per sq.ft in 2024, reflecting an overall increase of 285% over the years.

What is the land classification for Lakshmi Narashiman Street?

Lakshmi Narashiman Street is classified as Residential Class II Type - II, indicating its use for residential purposes.

Where can I find the registration office for Lakshmi Narashiman Street?

The registration office for Lakshmi Narashiman Street is the Thiyagaraya nagar Sub Registrar Office, located at 27/14, Vetnari Hospital Road, Panpet Nandhanam, Chennai-35.

How is stamp duty calculated for properties in Tnagar?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a property valued at Rs 77,00,000 would incur a stamp duty of Rs 5,39,000 at the rate of 7%.