Guideline Value for LOHITHA LAKSHMI NAGAR PHASE-II

Lohitha Lakshmi Nagar Phase-II guideline value

The current guideline value for Lohitha Lakshmi Nagar Phase-II is Rs 100 per sq.ft, effective from 1 July 2024. This area is located in Vanjivakkam village, under the Ponneri SRO, and is classified as Residential Class II Type - I.

How the guideline value of Lohitha Lakshmi Nagar Phase-II has changed

The guideline value for Lohitha Lakshmi Nagar Phase-II has undergone several revisions over the years. The earliest recorded revision was in 2017, with a guideline value of Rs 67 per sq.ft. This value increased to Rs 100 per sq.ft in the 2023 revision, marking a 49% increase from the 2017 figure. The current revision in 2024 has maintained the guideline value at Rs 100 per sq.ft, showing no change from the previous year.

There are no recorded figures for the years 2002, 2003, 2007, and 2012 for this street. Overall, from 2017 to 2024, there has been a 49% increase in the guideline value.

Guideline values in Vanjivakkam

In Vanjivakkam, there are three streets under the Ponneri SRO that carry a 2024 guideline value of Rs 100 per sq.ft. The median guideline value for these streets is also Rs 100 per sq.ft, placing Lohitha Lakshmi Nagar Phase-II at the same level as the median.

• Sai City: Rs 100 per sq.ft (2024)
• Anees Garden: Rs 100 per sq.ft (2024)

Stamp duty and registration fee for property in Lohitha Lakshmi Nagar Phase-II

For a 1,000 sq.ft plot at the current guideline value of Rs 100 per sq.ft, the total guideline value would be Rs 1,00,000. The stamp duty at 7% would amount to Rs 7,000, and the registration fee at 2% would be Rs 2,000, bringing the total charges to Rs 9,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Lohitha Lakshmi Nagar Phase-II?

The Sub Registrar Office that covers Lohitha Lakshmi Nagar Phase-II is the Ponneri Sub Registrar Office, located at 9/5, Taluk Office Road, Ponneri, Chennai-601204. You can find your SRO for more details.

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

The guideline value plays a crucial role in the registration process of property transactions in Vanjivakkam. 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 considered as a benchmark. Buyers should be aware that the duty is charged based on the higher amount between the guideline value and the actual sale price of the property.

Frequently asked questions

What is the current guideline value of Lohitha Lakshmi Nagar Phase-II?

The current guideline value of Lohitha Lakshmi Nagar Phase-II is Rs 100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 67 per sq.ft in 2017 to Rs 100 per sq.ft in 2023 and has remained the same in 2024. There are no recorded figures for the years 2002, 2003, 2007, and 2012 for this street.

What are the stamp duty and registration fees for property transactions?

For a property valued at Rs 1,00,000, the stamp duty would be Rs 7,000 and the registration fee would be Rs 2,000, totaling Rs 9,000. The duty is charged on the higher of the guideline value or the sale price.

Which office handles property registrations in Lohitha Lakshmi Nagar Phase-II?

The Ponneri Sub Registrar Office handles property registrations for Lohitha Lakshmi Nagar Phase-II. It is located at 9/5, Taluk Office Road, Ponneri, Chennai-601204.

What is the land classification for Lohitha Lakshmi Nagar Phase-II?

Lohitha Lakshmi Nagar Phase-II is classified as Residential Class II Type - I. This classification is important for understanding the permissible uses and regulations for properties in the area.