Guideline Value for LAKSHMI PURAM

Lakshmi Puram guideline value

The current guideline value of Lakshmi Puram, located in Perumattu Nellore village under the Chengleput Joint II SRO, is Rs 800 per sq.ft, effective from 1 July 2024. The land classification for this area is Residential Special Type - I.

How the guideline value of Lakshmi Puram has changed

The guideline value for Lakshmi Puram has undergone several revisions over the years. In 2007, the guideline value was set at Rs 80 per sq.ft. This figure saw a significant increase in 2012, rising to Rs 800 per sq.ft, marking a change of +900%. However, from 2012 to 2017, the value decreased to Rs 536 per sq.ft, which was a drop of -33%. The value then increased again to Rs 800 per sq.ft in 2023, remaining the same in the 2024 revision.

There are no figures available for the years 2002 and 2003 for this street. The most recent revision in 2024 indicates no change from the previous year, maintaining the guideline value at Rs 800 per sq.ft. Overall, from 2007 to 2024, the guideline value has increased by +900%.

Guideline values in Perumattu Nellore

In Perumattu Nellore, there are 83 streets under the Chengleput Joint II SRO that carry a 2024 guideline value, ranging from Rs 500 to Rs 2,850 per sq.ft, with a median of Rs 700 per sq.ft. Lakshmi Puram's 2024 figure is above this median.

• Lakshmi Nagar: Rs 800 per sq.ft (2024)
• Lavakusa Nagar: Rs 500 per sq.ft (2024)
• L.S.S. Anandham Avenue: Rs 500 per sq.ft (2024)
• Lss Vijay Avenue: Rs 800 per sq.ft (2024)
• Madras Garden: Rs 500 per sq.ft (2024)
• Krishna Nagar: Rs 500 per sq.ft (2024)

Stamp duty and registration fee for property in Lakshmi Puram

For a 1,000 sq.ft plot at the current rate of Rs 800 per sq.ft, the guideline value amounts to Rs 8,00,000. The stamp duty at 7% would be Rs 56,000, and the registration fee at 2% would be Rs 16,000, totaling Rs 72,000. It is important to note that duty is charged on the guideline value or the sale price, whichever is higher. You can also use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Lakshmi Puram?

The Sub Registrar Office covering Lakshmi Puram is the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process of property transactions in Perumattu Nellore. It is used to determine the stamp duty and registration fees that must be paid when a property is bought or sold.

When registering a property, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties and fees. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Lakshmi Puram?

The current guideline value of Lakshmi Puram is Rs 800 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

Since 2007, the guideline value has increased by +900%, from Rs 80 per sq.ft to Rs 800 per sq.ft in 2024, with various changes in between.

What is the land classification for Lakshmi Puram?

The land classification for Lakshmi Puram is Residential Special Type - I.

Where is the Sub Registrar Office for Lakshmi Puram located?

The Chengleput Joint II Sub Registrar Office is located at 10, Kancheepuram Main Road, Chengalpattu 603 002, Chengalpattu registration zone.

How are stamp duty and registration fees calculated?

Stamp duty and registration fees are calculated based on the higher of the guideline value or the sale price of the property. For example, for a plot valued at Rs 8,00,000, the total fees would amount to Rs 72,000.