Guideline Value for Lakshman Nagar West

Lakshman Nagar West guideline value

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

How the guideline value of Lakshman Nagar West has changed

The guideline value for Lakshman Nagar West has seen several revisions over the years. In 2002, the value was Rs 360 per sq.ft, which increased to Rs 392 per sq.ft in 2003, marking a 9% rise. The value then experienced significant growth, reaching Rs 800 per sq.ft in 2007, an increase of 104%. The 2012 revision saw the value drop to Rs 2,500 per sq.ft, a decrease of 213%. However, from 2017 onwards, the values began to rise again, starting from Rs 1,675 per sq.ft in 2017 to Rs 2,500 per sq.ft in 2023, reflecting a 49% increase.

As of the latest revision in 2024, the guideline value stands at Rs 2,700 per sq.ft, representing an 8% increase from the previous year. The overall change from 2002 to 2024 shows a substantial increase of 650% in the guideline value for this street.

Guideline values in Peravallur

In Peravallur, a total of 423 streets under the Sembiam SRO have a 2024 guideline value ranging from Rs 2,200 to Rs 7,100 per sq.ft, with a median value of Rs 3,301 per sq.ft. Lakshman Nagar West's 2024 guideline value is below this median.

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

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

You can also use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Lakshman Nagar West?

The Sub Registrar Office that covers Lakshman Nagar West is the Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011. For more information, you can find your SRO.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Peravallur. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction.

Frequently asked questions

What is the current guideline value of Lakshman Nagar West?

The current guideline value of Lakshman Nagar West 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 significantly, increasing from Rs 360 per sq.ft in 2002 to Rs 2,700 per sq.ft in 2024, which is an overall increase of 650%.

What are the stamp duty rates for properties in Lakshman Nagar West?

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

Where is the Sub Registrar Office for Lakshman Nagar West?

The Sub Registrar Office for Lakshman Nagar West is the Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011.

What is the median guideline value in Peravallur?

The median guideline value in Peravallur is Rs 3,301 per sq.ft, while Lakshman Nagar West's current value is below this median at Rs 2,700 per sq.ft.