Guideline Value for LAKSHMI SRI NAGAR PART-I EXT-2

Lakshmi Sri Nagar Part-I Ext-2 guideline value

The current guideline value of Lakshmi Sri Nagar Part-I Ext-2 is Rs 250 per sq.ft, effective from 1 July 2024. This area is located in Pazhayaseevaram -A village under the Walajabad SRO, classified as Residential Class II Type - I.

How the guideline value of Lakshmi Sri Nagar Part-I Ext-2 has changed

According to the guideline value register, the most recent revision in 2024 maintains the value at Rs 250 per sq.ft, which is the same as the 2023 revision. Prior to that, the 2017 revision recorded a guideline value of Rs 167 per sq.ft. The register has no figures for the years 2002, 2003, 2007, and 2012.

From 2017 to 2023, the guideline value increased by 50%. Overall, from 2017 to 2024, the increase remains at 50%, with no change noted between 2023 and 2024.

Guideline values in Pazhayaseevaram -A

Pazhayaseevaram -A features 26 streets under the Walajabad SRO, with 2024 guideline values ranging from Rs 200 to Rs 500 per sq.ft. The median value for these streets is Rs 350 per sq.ft, placing Lakshmi Sri Nagar Part-I Ext-2 below this median.

• Kothai Vanam: Rs 500 per sq.ft (2024)
• Ishwariya Nagar Phase-V: Rs 200 per sq.ft (2024)
• Ishwariya Nagar Phase-IV: Rs 200 per sq.ft (2024)
• Ishwariya Nagar phase-II: Rs 200 per sq.ft (2024)
• Ishwariya Nagar phase-I: Rs 200 per sq.ft (2024)
• Ishvariya Nagar Phase-III: Rs 200 per sq.ft (2024)

Stamp duty and registration fee for property in Lakshmi Sri Nagar Part-I Ext-2

For a 1,000 sq.ft plot at the current guideline value of Rs 250 per sq.ft, the total guideline value amounts to Rs 2,50,000. The stamp duty at 7% would be Rs 17,500, and the registration fee at 2% would be Rs 5,000, bringing the total fees to Rs 22,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use the stamp duty and registration fee calculator for further calculations.

Which Sub Registrar Office covers Lakshmi Sri Nagar Part-I Ext-2?

The Lakshmi Sri Nagar Part-I Ext-2 area falls under 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 Pazhayaseevaram -A

The guideline value is a crucial factor in the registration process of property transactions in Pazhayaseevaram -A. It serves as a benchmark for calculating stamp duty and registration fees, ensuring that these costs are based on official valuations rather than subjective market prices.

When buying or selling property, it is essential to be aware of the current guideline value as it directly impacts the financial obligations associated with the transaction. Buyers should ensure that they are informed about the guideline value to avoid any unexpected costs during registration.

Frequently asked questions

What is the current guideline value of Lakshmi Sri Nagar Part-I Ext-2?

The current guideline value of Lakshmi Sri Nagar Part-I Ext-2 is Rs 250 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has remained at Rs 250 per sq.ft from 2023 to 2024, with a 50% increase from Rs 167 per sq.ft in 2017 to 2023. Overall, there has been a 50% increase from 2017 to 2024.

What is the land classification of Lakshmi Sri Nagar Part-I Ext-2?

Lakshmi Sri Nagar Part-I Ext-2 is classified as Residential Class II Type - I, indicating its suitability for residential development.

Where can I find the Walajabad Sub Registrar Office?

The Walajabad Sub Registrar Office is located at Sriperumbudur Road, Walajabad-631 605, Chengalpattu registration zone.

How is stamp duty calculated in Lakshmi Sri Nagar Part-I Ext-2?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at Rs 250 per sq.ft, the total guideline value is Rs 2,50,000, leading to a stamp duty of Rs 17,500.