Guideline Value for Lakshman Nagar East Central Road

Lakshman Nagar East Central Road guideline value

The current guideline value for Lakshman Nagar East Central Road is Rs 2,700 per sq.ft, effective from 1 July 2024. This road is located in Peravallur village and falls under the Sembiam SRO. The land classification for this area is Residential Class I Type - I.

How the guideline value of Lakshman Nagar East Central Road has changed

The guideline value for Lakshman Nagar East Central Road has undergone several revisions over the years. The earliest recorded value was Rs 360 per sq.ft in 2002, which increased to Rs 392 per sq.ft in 2003, marking a change of +9%. The value saw a significant rise to Rs 800 per sq.ft in 2007, reflecting an increase of +104%. In 2012, the guideline value was recorded at Rs 2,500 per sq.ft, which was a decrease of -33% from the previous revision. The value then increased to Rs 1,675 per sq.ft in 2017, showing a rise of +49% from 2012. The 2023 revision set the value at Rs 2,500 per sq.ft, and the most recent revision in 2024 raised it to Rs 2,700 per sq.ft, an increase of +8%.

It is important to note that the register has no figures for the years between these revisions for this street. Overall, from 2002 to 2024, the guideline value has increased by +650%.

Guideline values in Peravallur

In Peravallur, there are 423 streets under the Sembiam SRO that carry a 2024 guideline value, ranging from Rs 2,200 to Rs 7,100 per sq.ft. The median value for these streets is Rs 3,301 per sq.ft, which means that the guideline value for Lakshman Nagar East Central Road is below this median.

• Lakshman Nagar 2nd Cross Street: Rs 2,700 per sq.ft (2024)
• Lakshman Nagar East Main Road: Rs 2,700 per sq.ft (2024)
• Lakshman Nagar 1st Cross Street: Rs 2,700 per sq.ft (2024)
• Lakshman Nagar Main Road: Rs 2,700 per sq.ft (2024)
• Lakshman Nagar West: Rs 2,700 per sq.ft (2024)
• Kuppuswamy Street (Vetri Nagar): Rs 3,301 per sq.ft (2024)

Stamp duty and registration fee for property in Lakshman Nagar East Central Road

For a 1,000 sq.ft plot at the current guideline value of Rs 2,700 per sq.ft, the total guideline value would be Rs 27,00,000. The stamp duty at 7% would amount to Rs 1,89,000, and the registration fee at 2% would be Rs 54,000, making the total cost for these fees Rs 2,43,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Lakshman Nagar East Central Road?

The Sub Registrar Office that covers Lakshman Nagar East Central Road is the Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011. You can find your SRO for more information.

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

The guideline value is an essential factor in the registration process of property transactions in Peravallur. It determines the minimum value at which a property can be registered, ensuring that the transaction is recorded accurately according to the prevailing rates in the area.

When buying or selling property, the guideline value will influence the stamp duty and registration fees applicable. Buyers should be aware that these fees are based on the guideline value or the sale price, whichever is higher, and plan their finances accordingly.

Frequently asked questions

What is the current guideline value of Lakshman Nagar East Central Road?

The current guideline value of Lakshman Nagar East Central Road is Rs 2,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 360 per sq.ft in 2002 to Rs 2,700 per sq.ft in 2024, reflecting an overall increase of +650% over this period.

What is the stamp duty rate for properties in this area?

The stamp duty rate for properties in Lakshman Nagar East Central Road is 7% of the guideline value or sale price, whichever is higher.

Where can I find the Sembiam Sub Registrar Office?

The Sembiam Sub Registrar Office is located at 5, Papermills Road, Sembiam, Chennai - 600011.

How does the guideline value affect property registration?

The guideline value affects property registration by determining the minimum value at which a property can be registered. It also influences the stamp duty and registration fees that need to be paid during the transaction.