Guideline Value for Lakshmi Kandammal Nagar

Lakshmi Kandammal Nagar guideline value

The current guideline value for Lakshmi Kandammal Nagar is Rs 2,000 per sq.ft, effective from 1 July 2024. This area is located in Kathirvedu village and falls under the Ambattur SRO, classified as Residential Class II Type - III.

How the guideline value of Lakshmi Kandammal Nagar has changed

Over the years, the guideline value for Lakshmi Kandammal Nagar has seen significant changes. The earliest recorded figure is from 2002, where the guideline value was Rs 74 per sq.ft. This increased to Rs 90 per sq.ft in 2003, marking a 22% rise. In 2007, the value jumped to Rs 300 per sq.ft, a substantial increase of 233%. The 2012 revision saw the value rise to Rs 1,900 per sq.ft, which was a remarkable 533% increase from the previous figure. However, in 2017, the value decreased to Rs 1,273 per sq.ft, reflecting a decline of 33%. The guideline value then rose again to Rs 1,900 per sq.ft in 2023, before reaching the current figure of Rs 2,000 per sq.ft in 2024, which represents a 5% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 2603%. The register does not contain figures for revisions in years other than those specified.

Guideline values in Kathirvedu

Kathirvedu village has 78 streets under the Ambattur SRO, with guideline values ranging from Rs 1,100 to Rs 6,000 per sq.ft as of 2024. The median guideline value for these streets is Rs 1,500 per sq.ft, placing Lakshmi Kandammal Nagar's 2024 figure above this median.

• K.V.R.Nagar: Rs 2,000 per sq.ft (2024)
• Mahalakshmi Nagar: Rs 1,500 per sq.ft (2024)
• Kiruba Nagar: Rs 1,300 per sq.ft (2024)
• Mathew Street: Rs 1,100 per sq.ft (2024)
• Kannagi Street: Rs 1,100 per sq.ft (2024)
• Moorthy Nagar: Rs 1,900 per sq.ft (2024)

Stamp duty and registration fee for property in Lakshmi Kandammal Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 2,000 per sq.ft, the total guideline value amounts to Rs 20,00,000. The stamp duty at 7% would be Rs 1,40,000, and the registration fee at 2% would be Rs 40,000, making the total cost for these fees Rs 1,80,000. It is important to note that the duty is charged on either the guideline value or the sale price, whichever is higher. For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Lakshmi Kandammal Nagar?

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

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

The guideline value is a critical factor in the registration process when buying or selling property in Kathirvedu. It determines the minimum value at which a property can be registered, and it is used to calculate the stamp duty and registration fees applicable to the transaction.

When a property is sold, the buyer must pay the stamp duty based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value for Lakshmi Kandammal Nagar?

The current guideline value for Lakshmi Kandammal Nagar is Rs 2,000 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly, starting from Rs 74 per sq.ft in 2002 to the current Rs 2,000 per sq.ft in 2024, reflecting an overall increase of 2603% over the years.

What is the median guideline value for streets in Kathirvedu?

The median guideline value for the 78 streets in Kathirvedu is Rs 1,500 per sq.ft, with Lakshmi Kandammal Nagar's value being above this median.

What fees are associated with buying property in Lakshmi Kandammal Nagar?

When buying property, fees include stamp duty at 7% and a registration fee at 2% of the guideline value. For example, for a 1,000 sq.ft plot, these fees total Rs 1,80,000.

Where is the Sub Registrar Office for Lakshmi Kandammal Nagar located?

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