Guideline Value for Lakshmi Garden

Lakshmi Garden guideline value

The current guideline value of Lakshmi Garden in Nandhivaram village is Rs 1,500 per sq.ft, effective from 1 July 2024. This area falls under the Gooduvancheri SRO and is classified as Residential Special Type - I.

How the guideline value of Lakshmi Garden has changed

The guideline value for Lakshmi Garden has seen several revisions over the years. The earliest recorded figure is from 2002, with a guideline value of Rs 113 per sq.ft. This increased significantly to Rs 328 per sq.ft in 2007, marking a rise of 190%. In 2012, the value jumped to Rs 1,500 per sq.ft, which is an increase of 357%. However, this figure decreased to Rs 1,005 per sq.ft in 2017, reflecting a decline of 33%. The guideline value then remained at Rs 1,500 per sq.ft in 2023 and again in 2024, showing no change between these two revisions.

Overall, from 2002 to 2024, the guideline value has increased by 1,227%. The register has no figure for this street in 2003.

Guideline values in Nandhivaram

Nandhivaram village has a total of 169 streets under the Gooduvancheri SRO, with 2024 guideline values ranging from Rs 1,000 to Rs 3,500 per sq.ft. The median guideline value for these streets is Rs 1,500 per sq.ft, which is equal to the current guideline value of Lakshmi Garden.

• Lakshmi Nagar: Rs 1,500 per sq.ft (2024)
• Lakshmi Nagar: Rs 3,500 per sq.ft (2024)
• Lakshmi Nagar: Rs 1,500 per sq.ft (2024)
• Kulakkarai Street: Rs 1,000 per sq.ft (2024)
• Kubera Nagar: Rs 3,500 per sq.ft (2024)
• Krishnaveni Nagar: Rs 1,500 per sq.ft (2024)

Stamp duty and registration fee for property in Lakshmi Garden

For a 1,000 sq.ft plot at the current guideline value of Rs 1,500 per sq.ft, the total guideline value would be Rs 15,00,000. The stamp duty at 7% would amount to Rs 1,05,000, and the registration fee at 2% would be Rs 30,000, resulting in a total of Rs 1,35,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Lakshmi Garden?

The Sub Registrar Office that covers Lakshmi Garden is the Gooduvancheri Sub Registrar Office, located at Defence Colony Road, near Veterinary Hospital, Nandhivaram, 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 Nandhivaram

The guideline value is a crucial factor when buying or selling property in Nandhivaram. It determines the minimum value at which a property can be registered, ensuring that the transaction is transparent and fair. Buyers and sellers must consider this value as it influences the stamp duty and registration fees applicable to the transaction.

When registering a property, the guideline value is used to calculate the stamp duty, which is charged at a percentage of the guideline value or the sale price, whichever is higher. This ensures that the government receives appropriate revenue from property transactions, reflecting the value of the property being transferred.

Frequently asked questions

What is the current guideline value of Lakshmi Garden?

The current guideline value of Lakshmi Garden is Rs 1,500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed several times, with the most significant increase occurring from Rs 328 per sq.ft in 2007 to Rs 1,500 per sq.ft in 2012. The value has remained at Rs 1,500 per sq.ft since 2012, with no change in 2023 and 2024.

What is the median guideline value in Nandhivaram?

The median guideline value in Nandhivaram is Rs 1,500 per sq.ft, which is the same as the current value for Lakshmi Garden.

What are the stamp duty rates applicable in Lakshmi Garden?

The stamp duty rate in Lakshmi Garden is 7%, which is calculated on the higher of the guideline value or the sale price. Additionally, there is a registration fee of 2%.

Where is the Sub Registrar Office for Lakshmi Garden located?

The Sub Registrar Office for Lakshmi Garden is located at Defence Colony Road, near Veterinary Hospital, Nandhivaram, Guduvanchery-603202, Chengalpattu registration zone.