Guideline Value for LAKSHMI NURSING HOME LANE

Lakshmi Nursing Home Lane guideline value

The current guideline value of Lakshmi Nursing Home Lane is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Villivakkam village, under the jurisdiction of the Villivakkam SRO. The land classification for this area is Residential Class IV Type - II.

How the guideline value of Lakshmi Nursing Home Lane has changed

Over the years, the guideline value of Lakshmi Nursing Home Lane has seen several revisions. The 2002 revision recorded a value of Rs 632 per sq.ft. This increased to Rs 725 per sq.ft in 2003, marking a 15% rise. The value then rose to Rs 950 per sq.ft in 2007, which was a 31% increase from the previous year. Following this, the 2012 revision saw the value jump to Rs 3,000 per sq.ft, a significant increase of 216% from 2007. However, the 2017 revision marked a decrease to Rs 2,010 per sq.ft, a decline of 33% from 2012. The value then rose to Rs 3,000 per sq.ft in the 2023 revision, reflecting a 49% increase. The most recent revision in 2024 set the value at Rs 3,300 per sq.ft, which is a 10% increase from 2023.

There are no figures available for the revisions in years other than those mentioned. Overall, the guideline value has increased by 422% from the 2002 figure to the current 2024 figure.

Guideline values in Villivakkam

In Villivakkam, there are 372 streets under the Villivakkam SRO, with guideline values ranging from Rs 1,600 to Rs 13,200 per sq.ft. The median value for these streets is Rs 4,900 per sq.ft, indicating that Lakshmi Nursing Home Lane's 2024 guideline value is below this median.

• LAKSHMIPURAM 1st STREET: Rs 3,300 per sq.ft (2024)
• LAKSHMIPURAM 2nd STREET: Rs 3,300 per sq.ft (2024)
• LAKSHMIPURAM 3rd STREET: Rs 3,300 per sq.ft (2024)
• Lakshmipuram 4th Street: Rs 3,300 per sq.ft (2024)
• Lakshmipuram Extn: Rs 3,300 per sq.ft (2024)
• Lakshmipuram Lane: Rs 2,700 per sq.ft (2024)

Stamp duty and registration fee for property in Lakshmi Nursing Home Lane

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value would be Rs 33,00,000. The stamp duty at 7% would amount to Rs 2,31,000, while the registration fee at 2% would be Rs 66,000. Together, the total cost for stamp duty and registration would be Rs 2,97,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use our stamp duty and registration fee calculator for further calculations.

Which Sub Registrar Office covers Lakshmi Nursing Home Lane?

The Sub Registrar Office that covers Lakshmi Nursing Home Lane is the Villivakkam Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office. You can find your SRO for more information.

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

The guideline value plays a crucial role in property transactions in Villivakkam. It is used to determine the stamp duty and registration fees payable when buying or selling property. Buyers and sellers should be aware that the guideline value may differ from the actual sale price, and the higher of the two will be used for calculating the applicable fees.

When registering a property, it is essential to refer to the current guideline value, as this will directly impact the financial obligations involved in the transaction. Understanding the guideline value can help ensure compliance with local regulations and avoid any potential issues during the registration process.

Frequently asked questions

What is the current guideline value of Lakshmi Nursing Home Lane?

The current guideline value of Lakshmi Nursing Home Lane is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 632 per sq.ft in 2002 to Rs 3,300 per sq.ft in 2024, reflecting an overall increase of 422% over this period.

What is the land classification for Lakshmi Nursing Home Lane?

The land classification for Lakshmi Nursing Home Lane is Residential Class IV Type - II.

Where can I find the Sub Registrar Office for Lakshmi Nursing Home Lane?

The Sub Registrar Office for Lakshmi Nursing Home Lane is located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office.

How is the stamp duty calculated for properties in Lakshmi Nursing Home Lane?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 33,00,000, the stamp duty would be Rs 2,31,000 at a rate of 7%.