Guideline Value for Lakshmanan Colony

Lakshmanan Colony guideline value

The current guideline value of Lakshmanan Colony is Rs 1,200 per sq.ft, as per the 2023 revision. This area falls under the Gooduvancheri Sub Registrar Office (SRO) in the Chengalpattu zone, and it is classified as Residential Class I Type - I.

How the guideline value of Lakshmanan Colony has changed

Over the years, the guideline value of Lakshmanan Colony has seen several revisions. The earliest recorded guideline value was Rs 550 per sq.ft in 2007. This value increased significantly to Rs 1,200 per sq.ft in 2012, marking a rise of 118%. However, by 2017, the guideline value dropped to Rs 804 per sq.ft, which was a decrease of 33%. The most recent revision in 2023 brought the guideline value back up to Rs 1,200 per sq.ft, reflecting an increase of 49% from the 2017 figure.

Overall, from 2007 to 2023, the guideline value has increased by 118%. It is important to note that there are no figures available for the revisions in 2002, 2003, and 2024 for this street.

Guideline values in Vandalur

While specific guideline values for other streets in Vandalur are not provided, Lakshmanan Colony's current guideline value stands at Rs 1,200 per sq.ft. The following are the other streets in Vandalur:

Stamp duty and registration fee for property in Lakshmanan Colony

For a 1,000 sq.ft plot at the current rate, the guideline value would be Rs 12,00,000. The stamp duty at 7% would amount to Rs 84,000, and the registration fee at 2% would be Rs 24,000, totaling Rs 1,08,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Lakshmanan Colony?

The Gooduvancheri Sub Registrar Office covers Lakshmanan Colony. The office is located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvanchery-603202, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process of property transactions in Vandalur. It is used to determine the stamp duty and registration fees that need to be paid when buying or selling property in the area.

When a property is sold, the guideline value is considered to ensure that the transaction is recorded accurately. Buyers and sellers must be aware of the guideline value to understand their financial obligations during the registration process.

Frequently asked questions

What is the current guideline value of Lakshmanan Colony?

The current guideline value of Lakshmanan Colony is Rs 1,200 per sq.ft as per the 2023 revision.

How has the guideline value changed over the years?

The guideline value has changed from Rs 550 per sq.ft in 2007 to Rs 1,200 per sq.ft in 2012, then decreased to Rs 804 per sq.ft in 2017, and finally returned to Rs 1,200 per sq.ft in 2023.

What is the land classification of Lakshmanan Colony?

Lakshmanan Colony is classified as Residential Class I Type - I.

What are the stamp duty and registration fees for property in Lakshmanan Colony?

For a property valued at Rs 12,00,000, the stamp duty would be Rs 84,000 and the registration fee would be Rs 24,000, totaling Rs 1,08,000.

Which office handles the registration for Lakshmanan Colony?

The Gooduvancheri Sub Registrar Office handles the registration for Lakshmanan Colony, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvanchery-603202.