Guideline Value for LAKSHMI NARASIMMA SWAMY NAGAR

Lakshmi Narasimma Swamy Nagar guideline value

The current guideline value of Lakshmi Narasimma Swamy Nagar, located in Chitravadi village under the Madurandakam SRO, is Rs 103 per sq.ft, effective from 1 July 2024. This area is classified as Residential Special Type - I.

How the guideline value of Lakshmi Narasimma Swamy Nagar has changed

Over the years, the guideline value for Lakshmi Narasimma Swamy Nagar has seen several revisions. The earliest recorded revision was in 2012, where the guideline value was Rs 100 per sq.ft. This was followed by a decrease to Rs 67 per sq.ft in the 2017 revision. The 2023 revision brought the value back up to Rs 100 per sq.ft, and the most recent revision in 2024 increased it further to Rs 103 per sq.ft, marking a 3% increase from the previous year.

In summary, from 2012 to 2017, there was a decrease of 33%, but from 2017 to 2023, the guideline value rose by 49%. Overall, from 2012 to 2024, the guideline value has increased by 3%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Chitravadi

In Chitravadi, there are four streets under the Madurandakam SRO that carry a 2024 guideline value, ranging from Rs 100 to Rs 103 per sq.ft. The median guideline value for these streets is Rs 102 per sq.ft, placing Lakshmi Narasimma Swamy Nagar's 2024 figure above that median.

• Sapthagiri Garden: Rs 103 per sq.ft (2024)
• Skathi Nagar: Rs 100 per sq.ft (2024)
• A.G.P. Punnia Boomi: Rs 100 per sq.ft (2024)

Stamp duty and registration fee for property in Lakshmi Narasimma Swamy Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 103 per sq.ft, the total guideline value amounts to Rs 1,03,000. The stamp duty at 7% would be Rs 7,210, and the registration fee at 2% would be Rs 2,060, bringing the total to Rs 9,270. 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 Narasimma Swamy Nagar?

The Sub Registrar Office that covers Lakshmi Narasimma Swamy Nagar is the Madurandakam Sub Registrar Office, located at No.53, Old Taluk Office Road, Maduranthakam-603306, Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Chitravadi. It is used to determine the stamp duty and registration fees that need to be paid during the transaction.

When a property is sold, the guideline value helps ensure that the transaction is recorded accurately, reflecting the value of the property as per government regulations. Buyers and sellers must 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 Narasimma Swamy Nagar?

The current guideline value of Lakshmi Narasimma Swamy Nagar is Rs 103 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 100 per sq.ft in 2012 to Rs 67 per sq.ft in 2017, then back to Rs 100 per sq.ft in 2023, and finally to Rs 103 per sq.ft in 2024.

What is the land classification for Lakshmi Narasimma Swamy Nagar?

The land classification for Lakshmi Narasimma Swamy Nagar is Residential Special Type - I.

What are the stamp duty and registration fees for a property in this area?

For a property valued at Rs 1,03,000, the stamp duty would be Rs 7,210, and the registration fee would be Rs 2,060, totaling Rs 9,270.

Where is the Sub Registrar Office for Lakshmi Narasimma Swamy Nagar located?

The Sub Registrar Office for Lakshmi Narasimma Swamy Nagar is located at No.53, Old Taluk Office Road, Maduranthakam-603306, Chengalpattu registration zone.