Guideline Value for LTM NAGAR

Ltm Nagar guideline value

The current guideline value of Ltm Nagar, located in Thirumazhisai village under the Poonamallee SRO, is Rs 1,540 per sq.ft as per the 2024 revision effective from 1 July 2024. This area is classified as Commercial Class I Type - I.

How the guideline value of Ltm Nagar has changed

The guideline value for Ltm Nagar has seen several revisions over the years. In 2012, the guideline value was set at Rs 1,400 per sq.ft. This was followed by a decrease to Rs 938 per sq.ft in 2017. The value then increased significantly to Rs 1,400 per sq.ft in 2023, before reaching the current value of Rs 1,540 per sq.ft in 2024. Notably, the register has no figures for this street in 2002, 2003, and 2007.

From 2012 to 2017, there was a decrease of 33%, but the value increased by 49% from 2017 to 2023. The jump from 2023 to 2024 reflects a 10% increase. Overall, from 2012 to 2024, the guideline value has seen a 10% increase.

Guideline values in Thirumazhisai

In Thirumazhisai, there are 86 streets under the Poonamallee SRO that carry a 2024 guideline value ranging from Rs 730 to Rs 3,500 per sq.ft, with a median value of Rs 1,320 per sq.ft. The guideline value for Ltm Nagar is above this median.

• L&T nagar: Rs 1,320 per sq.ft (2024)
• Lakshmi Sinivasam Nagar: Rs 990 per sq.ft (2024)
• Mandaveli street: Rs 1,100 per sq.ft (2024)
• Kurinji nagar: Rs 1,100 per sq.ft (2024)
• Kuppusamy Nagar: Rs 1,100 per sq.ft (2024)
• Kumaresan Nagar: Rs 1,650 per sq.ft (2024)

Stamp duty and registration fee for property in Ltm Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,540 per sq.ft, the total guideline value amounts to Rs 15,40,000. The stamp duty at 7% would be Rs 1,07,800, and the registration fee at 2% would be Rs 30,800, bringing the total to Rs 1,38,600. 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 Ltm Nagar?

The Ltm Nagar area falls under the Poonamallee Sub Registrar Office, located at No.332 U + 9cc Malma Nagar, Poonamallee, Chennai - 600056. You can find your SRO for more details.

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

The guideline value is a crucial factor during the registration process of property transactions in Thirumazhisai. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction.

When buying or selling property, it's essential to consider the guideline value as it influences the costs involved in the registration process. Buyers and sellers must ensure that the sale price meets or exceeds the guideline value to avoid any discrepancies during registration.

Frequently asked questions

What is the current guideline value of Ltm Nagar?

The current guideline value of Ltm Nagar is Rs 1,540 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,400 per sq.ft in 2012 to Rs 938 per sq.ft in 2017, then to Rs 1,400 per sq.ft in 2023, and finally to Rs 1,540 per sq.ft in 2024.

What is the land classification of Ltm Nagar?

Ltm Nagar is classified as Commercial Class I Type - I, indicating its commercial usage potential.

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

The stamp duty is calculated at 7% of the guideline value, while the registration fee is 2%. For a property valued at Rs 15,40,000, the total fees would amount to Rs 1,38,600.

Which office handles registrations for Ltm Nagar?

The Poonamallee Sub Registrar Office is responsible for handling registrations for Ltm Nagar, located at No.332 U + 9cc Malma Nagar, Poonamallee, Chennai - 600056.