Guideline Value for Lakshmi Nagar (Ponniamman Medu)

Lakshmi Nagar (Ponniamman Medu) guideline value

The current guideline value of Lakshmi Nagar (Ponniamman Medu) is Rs 2,700 per sq.ft, effective from 1 July 2024. This area is located in Madhavaram village, under the Madhavaram SRO, and is classified as Residential Special Type - I.

How the guideline value of Lakshmi Nagar (Ponniamman Medu) has changed

The guideline value of Lakshmi Nagar (Ponniamman Medu) has seen significant changes over the years. The 2017 revision set the value at Rs 1,675 per sq.ft, which increased to Rs 2,500 per sq.ft in the 2023 revision, marking a 49% increase. The current 2024 revision has further raised the guideline value to Rs 2,700 per sq.ft, reflecting an 8% increase from the previous year.

Overall, from the 2017 revision to the 2024 revision, the guideline value has increased by 61%. It is important to note that there are no figures available for the years 2002, 2003, 2007, and 2012 for this street.

Guideline values in Madhavaram

In Madhavaram village, there are 1,946 streets under the Madhavaram SRO that carry a 2024 guideline value ranging from Rs 1,300 to Rs 7,500 per sq.ft, with a median value of Rs 1,600 per sq.ft. The guideline value for Lakshmi Nagar (Ponniamman Medu) is above this median.

• Lakshmi Nagar, Ponniammanmedu (Ward-24): Rs 1,300 per sq.ft (2024)
• Lakshmi Narayana Avenue (Ward-26): Rs 1,300 per sq.ft (2024)
• Lakshmi Narayana Avenue (Ward-29): Rs 1,300 per sq.ft (2024)
• Lakshmi Narayan Annex: Rs 1,300 per sq.ft (2024)
• Lakshmi Narayana perumal Koil st (Ward No.28): Rs 1,300 per sq.ft (2024)
• Lakshmi Nagar 6th Cross St (Ward No.24): Rs 2,700 per sq.ft (2024)

Stamp duty and registration fee for property in Lakshmi Nagar (Ponniamman Medu)

For a 1,000 sq.ft plot at the current rate of Rs 2,700 per sq.ft, the guideline value amounts to Rs 27,00,000. The stamp duty at 7% would be Rs 1,89,000, and the registration fee at 2% would be Rs 54,000, totaling Rs 2,43,000. It is important to note that duty is charged on the higher of the guideline value and the sale price.

You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Lakshmi Nagar (Ponniamman Medu)?

The Sub Registrar Office covering Lakshmi Nagar (Ponniamman Medu) is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find your SRO for more information.

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

The guideline value is a critical factor in the registration process when buying or selling property in Madhavaram. It serves as the benchmark for determining the stamp duty and registration fees applicable to the transaction.

When a property is registered, the guideline value or the sale price is considered, with duty charged on the higher of the two. This ensures that the government receives the appropriate revenue based on the property's value as determined by the guideline register.

Frequently asked questions

What is the current guideline value of Lakshmi Nagar (Ponniamman Medu)?

The current guideline value of Lakshmi Nagar (Ponniamman Medu) is Rs 2,700 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

Since the 2017 revision, the guideline value has increased by 61%, moving from Rs 1,675 per sq.ft in 2017 to Rs 2,700 per sq.ft in 2024.

What is the stamp duty for property in Lakshmi Nagar (Ponniamman Medu)?

The stamp duty for property in Lakshmi Nagar (Ponniamman Medu) is 7% of the guideline value or sale price, whichever is higher.

What is the registration fee for property in Lakshmi Nagar (Ponniamman Medu)?

The registration fee for property in Lakshmi Nagar (Ponniamman Medu) is 2% of the guideline value or sale price, whichever is higher.

Where can I find the Sub Registrar Office for Lakshmi Nagar (Ponniamman Medu)?

The Madhavaram Sub Registrar Office covers Lakshmi Nagar (Ponniamman Medu) and is located at No.7, Roja Nagar, Madhavaram, Chennai-600060.