Guideline Value for Lakshmi Nagar (S.No.235,236)

Lakshmi Nagar (S.No.235,236) guideline value

The current guideline value of Lakshmi Nagar (S.No.235,236) is Rs 1,500 per sq.ft, effective from 1 July 2024. This area is located in Nandhivaram village and falls under the Gooduvancheri SRO. The land classification for this property is Residential Special Type - I.

How the guideline value of Lakshmi Nagar (S.No.235,236) has changed

Over the years, the guideline value for Lakshmi Nagar (S.No.235,236) has seen several revisions. The 2012 revision set the value at Rs 1,500 per sq.ft, which remained unchanged in the 2017 revision, where it dropped to Rs 1,005 per sq.ft. This value then increased significantly to Rs 1,500 per sq.ft in the 2023 revision, and it has remained the same in the 2024 revision, reflecting a 49% increase from 2017 to 2023. Overall, from 2012 to 2024, the guideline value has not changed.

It is important to note that there are no figures available for the revisions in 2002, 2003, and 2007 for this street. The consistent value of Rs 1,500 per sq.ft in 2024 aligns with the median guideline value of other streets in Nandhivaram.

Guideline values in Nandhivaram

Nandhivaram village features 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 value across these streets is Rs 1,500 per sq.ft, which is the same as the guideline value for Lakshmi Nagar (S.No.235,236). Below are other streets in Nandhivaram:

• 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 (3,6,7,8,9,440/A1c): 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 (S.No.235,236)

For a 1,000 sq.ft plot at the current guideline value of Rs 1,500 per sq.ft, the total guideline value amounts to Rs 15,00,000. The stamp duty, charged at 7%, would be Rs 1,05,000, and the registration fee at 2% would be Rs 30,000, bringing the total fees to Rs 1,35,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Lakshmi Nagar (S.No.235,236)?

The Sub Registrar Office that covers Lakshmi Nagar (S.No.235,236) 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 details.

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

When buying or selling property in Nandhivaram, the guideline value plays a crucial role in determining the registration fees and stamp duty. This value is set by the Registration Department and is used to calculate the taxes owed during the transaction.

It is essential for buyers and sellers to be aware of the guideline value, as it can influence the overall cost of the transaction. The guideline value must be considered alongside the sale price to ensure compliance with registration requirements.

Frequently asked questions

What is the current guideline value of Lakshmi Nagar (S.No.235,236)?

The current guideline value of Lakshmi Nagar (S.No.235,236) 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 experienced several revisions, with the most recent change from 2023 to 2024 showing no increase. The value has remained at Rs 1,500 per sq.ft since 2012, despite fluctuations in previous years.

What is the land classification for Lakshmi Nagar (S.No.235,236)?

The land classification for Lakshmi Nagar (S.No.235,236) is Residential Special Type - I, indicating its suitability for residential development.

Where can I find the Sub Registrar Office for Lakshmi Nagar (S.No.235,236)?

The Sub Registrar Office for Lakshmi Nagar (S.No.235,236) is located at Defence Colony Road, near Veterinary Hospital, Nandhivaram, Guduvancheri - 603202, Chengalpattu registration zone.

How is the stamp duty calculated for properties in Lakshmi Nagar (S.No.235,236)?

The stamp duty for properties in Lakshmi Nagar (S.No.235,236) is calculated at 7% of the guideline value or sale price, whichever is higher. For example, a 1,000 sq.ft plot would incur a stamp duty of Rs 1,05,000 based on the current guideline value.