Guideline Value for Lakshmanan Nagar

Lakshmanan Nagar guideline value

The current guideline value of Lakshmanan Nagar is Rs 1,300 per sq.ft, effective from 1 July 2024. This area is part of Puthagaram village under the Ambattur SRO, classified as Residential Class IV Type - I.

How the guideline value of Lakshmanan Nagar has changed

In the 2012 revision, the guideline value was Rs 1,200 per sq.ft. This figure decreased to Rs 804 per sq.ft in the 2017 revision, reflecting a -33% change. However, from 2017 to 2023, the value saw a significant increase of 49%, bringing it back up to Rs 1,200 per sq.ft. The most recent revision in 2024 set the guideline value at Rs 1,300 per sq.ft, marking an 8% increase from the previous year.

There are no figures available for the years 2002, 2003, and 2007 for this street. Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 8%.

Guideline values in Puthagaram

Puthagaram village has 140 streets under the Ambattur SRO that carry a 2024 guideline value, ranging from Rs 1,200 to Rs 3,800 per sq.ft. The median value for these streets is Rs 1,900 per sq.ft, and Lakshmanan Nagar's current guideline value is below this median.

• Lakshmi Amman Kovil Street: Rs 1,300 per sq.ft (2024)
• Lakshmi Nagar: Rs 2,200 per sq.ft (2024)
• Lakshmi Nagar anex: Rs 2,200 per sq.ft (2024)
• Krishna Nagar: Rs 1,400 per sq.ft (2024)
• Magathma ganthi Nagar: Rs 1,300 per sq.ft (2024)
• Mathavan Nagar: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Lakshmanan Nagar

For a 1,000 sq.ft plot at the current rate of Rs 1,300 per sq.ft, the guideline value amounts to Rs 13,00,000. The stamp duty at 7% would be Rs 91,000, and the registration fee at 2% would be Rs 26,000, totaling Rs 1,17,000. It is important to note that duty is charged on the higher of the guideline value or the sale price.

For more details, you can use our stamp duty and registration fee calculator.

Which Sub Registrar Office covers Lakshmanan Nagar?

The Sub Registrar Office that covers Lakshmanan Nagar is the Ambattur Sub Registrar Office, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai. You can find your SRO for more information.

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

The guideline value plays a crucial role during the registration of property transactions in Puthagaram. It serves as a benchmark for determining the minimum value of a property, ensuring that the government receives the appropriate stamp duty and registration fees based on this value.

When buying or selling property, the guideline value is referenced to calculate the applicable fees. It is essential for buyers and sellers to be aware of this value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Lakshmanan Nagar?

The current guideline value of Lakshmanan Nagar is Rs 1,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen several changes: it was Rs 1,200 per sq.ft in 2012, decreased to Rs 804 per sq.ft in 2017, increased to Rs 1,200 per sq.ft in 2023, and finally set at Rs 1,300 per sq.ft in 2024.

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

For a 1,000 sq.ft plot, the total stamp duty and registration fees would amount to Rs 1,17,000, which includes Rs 91,000 for stamp duty and Rs 26,000 for registration fees.

Where can I find the Sub Registrar Office for Lakshmanan Nagar?

The Sub Registrar Office for Lakshmanan Nagar is the Ambattur Sub Registrar Office, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai.

What is the land classification for Lakshmanan Nagar?

Lakshmanan Nagar is classified as Residential Class IV Type - I, which indicates its designation for residential use under the local land regulations.