Guideline Value for LAKSHMI SARATHY NAGAR

Lakshmi Sarathy Nagar guideline value

The current guideline value of Lakshmi Sarathy Nagar is Rs 3,700 per sq.ft, effective from 1 July 2024. This area is located in Vengaivasal village under the Selaiyur SRO, classified as Commercial Class I Type - I.

How the guideline value of Lakshmi Sarathy Nagar has changed

Over the years, the guideline value for Lakshmi Sarathy Nagar has seen several revisions. The earliest recorded figure is from 2012, where the value was Rs 3,500 per sq.ft. This was followed by a decrease to Rs 2,345 per sq.ft in the 2017 revision. However, from 2017 to 2023, there was a significant increase, bringing the value back up to Rs 3,500 per sq.ft. The most recent revision in 2024 has raised the guideline value to Rs 3,700 per sq.ft, marking a 6% increase from the previous year.

In summary, the changes between revisions are as follows: from 2012 to 2017, the value decreased by 33%; from 2017 to 2023, it increased by 49%; and from 2023 to 2024, it rose by 6%. Notably, there are no figures available for the revisions in 2002, 2003, and 2007 for this street.

Guideline values in Vengaivasal

In Vengaivasal, there are 117 streets under the Selaiyur SRO that carry a 2024 guideline value, ranging from Rs 850 to Rs 4,800 per sq.ft. The median guideline value for these streets is Rs 2,700 per sq.ft, placing Lakshmi Sarathy Nagar's 2024 figure above this median.

• Kumaran Nagar: Rs 3,300 per sq.ft (2024)
• Maharajapuram: Rs 2,700 per sq.ft (2024)
• Maharaj Nagar: Rs 2,700 per sq.ft (2024)
• Kulakarai street: Rs 3,300 per sq.ft (2024)
• Mambakkam Main Road: Rs 3,300 per sq.ft (2024)
• Megala Nagar: Rs 1,900 per sq.ft (2024)

Stamp duty and registration fee for property in Lakshmi Sarathy Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 3,700 per sq.ft, the total guideline value amounts to Rs 37,00,000. The stamp duty at 7% would be Rs 2,59,000, and the registration fee at 2% would be Rs 74,000, bringing the total cost for these fees to Rs 3,33,000. 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 more details.

Which Sub Registrar Office covers Lakshmi Sarathy Nagar?

The Sub Registrar Office covering Lakshmi Sarathy Nagar is the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor when registering property transactions in Vengaivasal. It serves as a benchmark for determining the stamp duty and registration fees applicable to the sale or purchase of property in the area.

When a buyer or seller engages in a property transaction, the guideline value is used to calculate the applicable fees, ensuring that all transactions are recorded accurately and fairly according to the established rates. This helps maintain transparency in property dealings.

Frequently asked questions

What is the current guideline value of Lakshmi Sarathy Nagar?

The current guideline value of Lakshmi Sarathy Nagar is Rs 3,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 3,500 per sq.ft in 2023 to Rs 3,700 per sq.ft in 2024, representing a 6% increase. It was Rs 2,345 per sq.ft in 2017 and Rs 3,500 per sq.ft in 2012, showing a significant increase from 2017 to 2023.

What other streets have guideline values in Vengaivasal?

Other streets in Vengaivasal include Kumaran Nagar at Rs 3,300 per sq.ft, Maharajapuram at Rs 2,700 per sq.ft, and Megala Nagar at Rs 1,900 per sq.ft, among others. These values reflect the varying rates across different streets in the village.

What are the stamp duty and registration fees for property in Lakshmi Sarathy Nagar?

For a property valued at Rs 37,00,000, the stamp duty would be Rs 2,59,000 and the registration fee would be Rs 74,000, totaling Rs 3,33,000. These fees are based on the guideline value or the sale price, whichever is higher.

Where is the Sub Registrar Office for Lakshmi Sarathy Nagar located?

The Selaiyur Sub Registrar Office is located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073. This office handles registrations for properties in the area.