Guideline Value for LAKSHMI NARAYANA NAGAR-I

Lakshmi Narayana Nagar-I guideline value

The current guideline value of Lakshmi Narayana Nagar-I is Rs 600 per sq.ft. This area is located in Kolathur village, under the Chengleput Joint II SRO, and is classified as Residential Special Type - I.

How the guideline value of Lakshmi Narayana Nagar-I has changed

The guideline value for Lakshmi Narayana Nagar-I has remained consistent at Rs 600 per sq.ft since the 2023 revision, with no change in value from 2023 to 2024. The register has no figures for the years 2017, 2012, 2007, 2003, and 2002 for this street.

For the 2024 revision, the guideline value is Rs 600 per sq.ft, the same as it was in 2023, reflecting a change of +0%. This consistency indicates stability in the valuation for this street over the last two revisions.

Guideline values in Kolathur

In Kolathur, there are 58 streets under the Chengleput Joint II SRO that carry a 2024 guideline value ranging from Rs 500 to Rs 1,600 per sq.ft, with a median value of Rs 600 per sq.ft. Lakshmi Narayana Nagar-I's 2024 figure aligns with this median.

• Lakshmi Narayana Nagar: Rs 600 per sq.ft (2024)
• Lakshmi Nagar: Rs 600 per sq.ft (2024)
• Lavakusa Nagar: Rs 600 per sq.ft (2024)
• Madura Nagar: Rs 600 per sq.ft (2024)
• Maha Nagar: Rs 600 per sq.ft (2024)
• Mahathma Gandhi Nagar: Rs 600 per sq.ft (2024)

Stamp duty and registration fee for property in Lakshmi Narayana Nagar-I

For a 1,000 sq.ft plot at the current guideline value of Rs 600 per sq.ft, the total guideline value would be Rs 6,00,000. The stamp duty at 7% would be Rs 42,000, and the registration fee at 2% would be Rs 12,000, making the total cost for these fees Rs 54,000. It is important to note that 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 Narayana Nagar-I?

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

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

The guideline value plays a crucial role during the registration of property transactions in Kolathur. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid at the time of property registration.

When buying or selling property, the guideline value is used to calculate the applicable charges, ensuring that both parties are aware of the financial obligations involved in the transaction. This helps to maintain transparency and compliance with local regulations.

Frequently asked questions

What is the current guideline value of Lakshmi Narayana Nagar-I?

The current guideline value of Lakshmi Narayana Nagar-I is Rs 600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has remained at Rs 600 per sq.ft since the 2023 revision. There are no figures available for the years 2017, 2012, 2007, 2003, and 2002 for this street.

What is the land classification for Lakshmi Narayana Nagar-I?

Lakshmi Narayana Nagar-I is classified as Residential Special Type - I, indicating its designated use for residential purposes.

What are the stamp duty and registration fees for property transactions?

The stamp duty is charged at 7%, and the registration fee is charged at 2% of the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot would incur fees totaling Rs 54,000 based on the current guideline value.

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

The Chengleput Joint II Sub Registrar Office is located at 10, Kancheepuram Main Road, Chengalpattu 603 002. You can find more information about your SRO using the provided link.