Guideline Value for Lakshman Street / Gandhi Nagar

Lakshman Street / Gandhi Nagar guideline value

The current guideline value of Lakshman Street / Gandhi Nagar is Rs 2,475 per sq.ft, effective from 1 July 2024. This street is located in Pammal village, under the Pammal SRO, and is classified as Residential Class I Type - II.

How the guideline value of Lakshman Street / Gandhi Nagar has changed

The guideline value for Lakshman Street / Gandhi Nagar has seen significant changes over the years. In 2002, the guideline value was Rs 188 per sq.ft. This increased to Rs 213 per sq.ft in 2003, marking a rise of approximately 13%. The value then rose to Rs 360 per sq.ft in 2007, reflecting a 69% increase. By 2017, the guideline value reached Rs 1,507 per sq.ft, a substantial increase of 319% from the previous revision. The 2023 revision set the value at Rs 2,250 per sq.ft, which was a 49% increase from 2017. The most recent revision in 2024 has further increased the guideline value to Rs 2,475 per sq.ft, representing a 10% rise from 2023.

It is noteworthy that there is no figure available for Lakshman Street / Gandhi Nagar in the 2012 revision. Overall, from 2002 to 2024, the guideline value has increased by 1,216%.

Guideline values in Pammal

Pammal village has a total of 926 streets under the Pammal SRO, with guideline values ranging from Rs 880 to Rs 3,300 per sq.ft in 2024. The median guideline value for these streets is Rs 2,090 per sq.ft, placing Lakshman Street / Gandhi Nagar's 2024 figure above this median.

• Lakshman Street / Muthamzhi Nagar: Rs 2,475 per sq.ft (2024)
• Lakshman Street / Thandai Periyar Nagar: Rs 1,980 per sq.ft (2024)
• K.V.K. Swamy Street / Hindustan Lever Colony: Rs 2,530 per sq.ft (2024)
• Lakshminaranyan Nagar 1st Street: Rs 1,980 per sq.ft (2024)
• Lakshminaranyan Nagar 2nd Street: Rs 1,980 per sq.ft (2024)
• Lakshminaranyan Nagar 3rd Street: Rs 1,980 per sq.ft (2024)

Stamp duty and registration fee for property in Lakshman Street / Gandhi Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 2,475 per sq.ft, the total guideline value amounts to Rs 24,75,000. The stamp duty at 7% would be Rs 1,73,250, and the registration fee at 2% would be Rs 49,500, bringing the total fees to Rs 2,22,750. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Lakshman Street / Gandhi Nagar?

The Sub Registrar Office that covers Lakshman Street / Gandhi Nagar is the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, in the Chengalpattu registration zone. To find your SRO, visit find your SRO.

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

The guideline value is a crucial factor in the registration of property transactions in Pammal. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue from stamp duty and registration fees.

When buying or selling property, the guideline value is used to calculate the applicable stamp duty and registration fees. Buyers should be aware that these fees are calculated based on the higher of the guideline value or the actual sale price of the property.

Frequently asked questions

What is the current guideline value of Lakshman Street / Gandhi Nagar?

The current guideline value of Lakshman Street / Gandhi Nagar is Rs 2,475 per sq.ft, effective from 1 July 2024.

How much has the guideline value increased since 2002?

Since 2002, the guideline value has increased by 1,216%, from Rs 188 per sq.ft to Rs 2,475 per sq.ft in 2024.

What was the guideline value in 2017?

The guideline value of Lakshman Street / Gandhi Nagar in 2017 was Rs 1,507 per sq.ft.

Where can I find the Pammal Sub Registrar Office?

The Pammal Sub Registrar Office is located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075.

How are stamp duty and registration fees calculated?

Stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. For example, on a property valued at Rs 24,75,000, the total fees would amount to Rs 2,22,750.