Guideline Value for LAKSHMI NARASIMMAN NAGAR

Lakshmi Narasimman Nagar guideline value

The current guideline value of Lakshmi Narasimman Nagar is Rs 300 per sq.ft, effective from 1 July 2024. This village is part of Uthukkadu under the Walajabad SRO and is classified as Residential Class I Type - II.

How the guideline value of Lakshmi Narasimman Nagar has changed

The guideline value for Lakshmi Narasimman Nagar has remained constant at Rs 300 per sq.ft for both the 2023 and 2024 revisions. Prior to this, in the 2017 revision, the guideline value was Rs 201 per sq.ft, marking a significant increase of 49% from 2017 to 2023.

Overall, from the 2017 revision to the 2024 revision, the guideline value has increased by 49%. The register has no figures for the revisions in 2002, 2003, 2007, and 2012 for this street.

Guideline values in Uthukkadu - A

In Uthukkadu - A, there are 38 streets under the Walajabad SRO that carry a 2024 guideline value ranging from Rs 200 to Rs 800 per sq.ft, with a median of Rs 350 per sq.ft. Lakshmi Narasimman Nagar's 2024 figure is below this median.

• Lakshmi Narasima Perumal Nagar Phase-II: Rs 300 per sq.ft (2024)
• Kurunji Nagar: Rs 300 per sq.ft (2024)
• Kumaran Nagar: Rs 300 per sq.ft (2024)
• Krisna Garden: Rs 400 per sq.ft (2024)
• Meenakshi Nagar: Rs 350 per sq.ft (2024)
• Mithilai Nagar: Rs 400 per sq.ft (2024)

Stamp duty and registration fee for property in Lakshmi Narasimman Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 300 per sq.ft, the total guideline value amounts to Rs 3,00,000. The stamp duty at 7% would be Rs 21,000, and the registration fee at 2% would be Rs 6,000, bringing the total charges to Rs 27,000. 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 Narasimman Nagar?

The Lakshmi Narasimman Nagar is covered by the Walajabad Sub Registrar Office, located at Sriperumbudur Road, Walajabad-631 605, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process of property transactions in Uthukkadu - A. It serves as a benchmark to determine the stamp duty and registration fees applicable when buying or selling property.

When a property is registered, the guideline value is compared with the sale price, and the higher of the two is used to calculate the applicable duties. This ensures that the transaction is recorded accurately according to the prevailing regulations.

Frequently asked questions

What is the current guideline value of Lakshmi Narasimman Nagar?

The current guideline value of Lakshmi Narasimman Nagar is Rs 300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has remained at Rs 300 per sq.ft for both the 2023 and 2024 revisions. It was Rs 201 per sq.ft in the 2017 revision, reflecting a 49% increase from 2017 to 2023.

What is the land classification of Lakshmi Narasimman Nagar?

Lakshmi Narasimman Nagar is classified as Residential Class I Type - II. This classification is important for understanding the types of developments permitted in the area.

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

The stamp duty is calculated at 7% of the guideline value, while the registration fee is 2%. For a property valued at Rs 3,00,000, the total charges would amount to Rs 27,000.

Which office handles property registrations in Lakshmi Narasimman Nagar?

Property registrations for Lakshmi Narasimman Nagar are managed by the Walajabad Sub Registrar Office, located at Sriperumbudur Road, Walajabad-631 605, Chengalpattu registration zone.