Guideline Value for Lakshmi Nagar (3,6,7,8,9,440/A1c)

Lakshmi Nagar (3,6,7,8,9,440/A1c) guideline value

The current guideline value for Lakshmi Nagar (3,6,7,8,9,440/A1c) is Rs 1,500 per sq.ft, effective from 1 July 2024. This property is located in Nandhivaram village and falls under the Gooduvancheri SRO. The land classification is Residential Special Type - I.

How the guideline value of Lakshmi Nagar (3,6,7,8,9,440/A1c) has changed

The guideline value for Lakshmi Nagar has undergone several revisions over the years. The earliest recorded revision in 2007 set the value at Rs 328 per sq.ft, which saw a significant increase to Rs 1,500 per sq.ft in 2012. However, this value dropped to Rs 1,005 per sq.ft in the 2017 revision. The 2023 revision maintained the value at Rs 1,500 per sq.ft, which remains unchanged in the 2024 revision.

From 2017 to 2023, the guideline value increased by 49%. The jump from 2007 to 2012 was a notable 357%, while the change from 2012 to 2017 represented a decrease of 33%. Overall, from 2007 to 2024, the guideline value has increased by 357%. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Nandhivaram

Nandhivaram village has a total of 169 streets under the Gooduvancheri SRO, with guideline values ranging from Rs 1,000 to Rs 3,500 per sq.ft. The median value is Rs 1,500 per sq.ft, placing Lakshmi Nagar's 2024 figure at this median level.

• Lakshmi Nagar (G.S.T Road, S.No.301 & 303/2 & 304/1,3,5 & 307/2A): Rs 3,500 per sq.ft (2024)
• Lakshmi Nagar (S.No.235,236): Rs 1,500 per sq.ft (2024)
• Lakshmi Garden: Rs 1,500 per sq.ft (2024)
• Mahalakshmi Nagar: Rs 2,000 per sq.ft (2024)
• Mahalakshmi Nagar Extn.I to VI: Rs 2,000 per sq.ft (2024)
• Mahalakshmi Nagar Extn.VII to VII A: Rs 2,000 per sq.ft (2024)

Stamp duty and registration fee for property in Lakshmi Nagar (3,6,7,8,9,440/A1c)

For a 1,000 sq.ft plot at the current rate of Rs 1,500 per sq.ft, the guideline value amounts to Rs 15,00,000. The stamp duty at 7% would be Rs 1,05,000, and the registration fee at 2% would be Rs 30,000, totaling Rs 1,35,000. Duty is charged on the higher of the guideline value or the sale price. You can calculate your fees using the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Lakshmi Nagar (3,6,7,8,9,440/A1c)?

The Sub Registrar Office that covers Lakshmi Nagar is the Gooduvancheri Sub Registrar Office, located at Defence Colony Road, near Veterinary Hospital, Nandhivaram, Guduvancheri-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 critical factor in property transactions in Nandhivaram, as it determines the minimum value at which properties can be registered. Buyers and sellers must consider this value when negotiating sale prices, as it influences the applicable stamp duty and registration fees.

During the registration process, the guideline value is used to calculate the stamp duty and registration fees. It is essential for buyers to be aware of this value to ensure compliance with local regulations and to avoid any potential legal issues during the transfer of property ownership.

Frequently asked questions

What is the current guideline value for Lakshmi Nagar?

The current guideline value for Lakshmi Nagar (3,6,7,8,9,440/A1c) 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 from Rs 328 per sq.ft in 2007 to Rs 1,500 per sq.ft in 2012, then decreased to Rs 1,005 per sq.ft in 2017, and returned to Rs 1,500 per sq.ft in 2023 and 2024.

What is the land classification for Lakshmi Nagar?

The land classification for Lakshmi Nagar is Residential Special Type - I.

Where is the Gooduvancheri Sub Registrar Office located?

The Gooduvancheri Sub Registrar Office is located at Defence Colony Road, near Veterinary Hospital, Nandhivaram, Guduvancheri-603202, Chengalpattu registration zone.

How is stamp duty calculated for properties in Lakshmi Nagar?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 15,00,000, the stamp duty at 7% would be Rs 1,05,000.