Guideline Value for LOCKMA NAGAR

Lockma Nagar guideline value

The current guideline value of Lockma Nagar, located in Purasaivakkam village under the Purasaivakkam SRO, is Rs 3,800 per sq.ft, effective from 1 July 2024. This area falls under the Residential Class IV Type - II land classification.

How the guideline value of Lockma Nagar has changed

The guideline value of Lockma Nagar has seen several revisions over the years. In 2007, the value was Rs 1,100 per sq.ft, which increased significantly to Rs 3,500 per sq.ft in 2012, marking a rise of 218%. However, from 2012 to 2017, the value decreased to Rs 2,345 per sq.ft, reflecting a drop of 33%. The value then rose again to Rs 3,500 per sq.ft in 2023, a 49% increase. The latest revision in 2024 has set the guideline value at Rs 3,800 per sq.ft, which is a 9% increase from the previous year.

There are no figures available for the revisions in 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 245%.

Guideline values in Purasaivakkam

In Purasaivakkam, there are 519 streets under the Purasaivakkam SRO that carry a 2024 guideline value ranging from Rs 2,200 to Rs 18,100 per sq.ft, with a median value of Rs 5,500 per sq.ft. Lockma Nagar's 2024 guideline value of Rs 3,800 per sq.ft is below this median.

• Lockma Nagar 1st Street: Rs 3,800 per sq.ft (2024)
• Lockma Nagar 2nd Street: Rs 3,800 per sq.ft (2024)
• Lockma Nagar 3rd Street: Rs 3,800 per sq.ft (2024)
• Lockma Nagar Lane: Rs 3,800 per sq.ft (2024)
• Letangs Road: Rs 12,100 per sq.ft (2024)
• Madam 1st Lane: Rs 4,400 per sq.ft (2024)

Stamp duty and registration fee for property in Lockma Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 3,800 per sq.ft, the total guideline value would be Rs 38,00,000. The stamp duty at 7% would amount to Rs 2,66,000, while the registration fee at 2% would be Rs 76,000, bringing the total to Rs 3,42,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Lockma Nagar?

Lockma Nagar is covered by the Purasaivakkam Sub Registrar Office, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012. You can find your SRO for more details.

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

The guideline value is a crucial factor during property registration in Purasaivakkam. It serves as a benchmark for determining the stamp duty and registration fees applicable when buying or selling property in the area.

Frequently asked questions

What is the current guideline value of Lockma Nagar?

The current guideline value of Lockma Nagar is Rs 3,800 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 1,100 per sq.ft in 2007 to Rs 3,800 per sq.ft in 2024, marking an overall increase of 245%.

What is the median guideline value in Purasaivakkam?

The median guideline value in Purasaivakkam is Rs 5,500 per sq.ft, with Lockma Nagar's value being below this median at Rs 3,800 per sq.ft.

What are the stamp duty and registration fees for Lockma Nagar?

For a property valued at Rs 38,00,000, the stamp duty would be Rs 2,66,000 and the registration fee would be Rs 76,000, totaling Rs 3,42,000.

Which office handles registrations for Lockma Nagar?

The Purasaivakkam Sub Registrar Office, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012, handles registrations for Lockma Nagar.