Guideline Value for LODHIKA SHREE NAGAR

Lodhika Shree Nagar guideline value

The current guideline value of Lodhika Shree Nagar is Rs 1,000 per sq.ft, effective from 1 July 2024. This locality is situated in Adhanoor village, which falls under the Gooduvancheri SRO. The land classification for this area is Residential Special Type - I.

How the guideline value of Lodhika Shree Nagar has changed

In the 2017 revision, the guideline value for Lodhika Shree Nagar was Rs 670 per sq.ft. This figure saw a significant increase in the 2023 revision, where it remained at Rs 1,000 per sq.ft. The most recent revision in 2024 also maintains the guideline value at Rs 1,000 per sq.ft, indicating no change from the previous year. The register has no figures for the years 2002, 2003, 2007, and 2012 for this street.

Overall, from the 2017 revision to the 2024 revision, the guideline value has increased by 49%. The change from 2023 to 2024 shows no percentage increase, as the value has remained constant. This stability in the guideline value reflects the current market conditions for this locality.

Guideline values in Adhanoor

Adhanoor village has a total of 169 streets under the Gooduvancheri SRO, with guideline values ranging from Rs 670 to Rs 3,000 per sq.ft. The median guideline value for these streets is Rs 1,000 per sq.ft, which is equal to the current guideline value of Lodhika Shree Nagar. This position indicates that Lodhika Shree Nagar is aligned with the median value in the region.

• Mahalakshmi Nagar: Rs 1,000 per sq.ft (2024)
• Lakshmi Nagar: Rs 1,000 per sq.ft (2024)
• Kumaran Avenue: Rs 1,000 per sq.ft (2024)
• Krishna Nagar (Extn): Rs 1,000 per sq.ft (2024)
• Krishna Nagar: Rs 1,000 per sq.ft (2024)
• Krishapuri: Rs 1,000 per sq.ft (2024)

Stamp duty and registration fee for property in Lodhika Shree Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,000 per sq.ft, the total guideline value amounts to Rs 10,00,000. The stamp duty is calculated at 7%, resulting in Rs 70,000, while the registration fee is charged at 2%, amounting to Rs 20,000. Together, the total cost for stamp duty and registration fee is Rs 90,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Lodhika Shree Nagar?

The Sub Registrar Office that covers Lodhika Shree Nagar is the Gooduvancheri Sub Registrar Office, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvancheri-603202, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process of property transactions in Adhanoor. It serves as the baseline value for determining the stamp duty and registration fees applicable during the sale or purchase of property. Buyers and sellers must be aware of this value to ensure compliance with legal requirements.

When a property is registered, the guideline value is assessed to calculate the necessary fees. This ensures that both parties in the transaction are aware of the financial obligations involved, based on the established guideline value for the area.

Frequently asked questions

What is the current guideline value of Lodhika Shree Nagar?

The current guideline value of Lodhika Shree Nagar is Rs 1,000 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Since the 2017 revision, the guideline value has increased from Rs 670 per sq.ft to Rs 1,000 per sq.ft in both the 2023 and 2024 revisions, reflecting a 49% increase overall.

What are the stamp duty and registration fees for property in Lodhika Shree Nagar?

For a property valued at Rs 10,00,000, the stamp duty would be Rs 70,000 and the registration fee would be Rs 20,000, totaling Rs 90,000. These fees are based on the guideline value.

Which office handles property registration for Lodhika Shree Nagar?

The Gooduvancheri Sub Registrar Office is responsible for property registration in Lodhika Shree Nagar. It is located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvancheri-603202.

What is the significance of the guideline value in property transactions?

The guideline value is essential in determining the stamp duty and registration fees during property transactions. It ensures that both buyers and sellers are aware of the financial implications based on the established guideline value for the area.