Guideline Value for Lakshmi Nagar 10th Street Extension

Lakshmi Nagar 10th Street Extension guideline value

The current guideline value of Lakshmi Nagar 10th Street Extension is Rs 2,800 per sq.ft, effective from 1 July 2024. This street is located in Ullagaram village, under the Alandur SRO, and is classified as Residential Class II Type - I.

How the guideline value of Lakshmi Nagar 10th Street Extension has changed

The guideline value for Lakshmi Nagar 10th Street Extension has seen several revisions over the years. In 2002, the guideline value was Rs 375 per sq.ft. This increased to Rs 420 per sq.ft in 2003, marking a 12% rise. The value continued to climb significantly, reaching Rs 1,300 per sq.ft in 2007, which represented a substantial increase of 210%. Following that, the value rose to Rs 2,500 per sq.ft in 2012, a 92% increase. However, it then decreased to Rs 1,675 per sq.ft in 2017, reflecting a drop of 33%. The value saw a notable increase again, reaching Rs 2,500 per sq.ft in 2023, and finally, it rose to Rs 2,800 per sq.ft in 2024, which is a 12% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 647%. The register has no figure for the years not mentioned in the revisions above.

Guideline values in Ullagaram

In Ullagaram, there are 298 streets under the Alandur SRO that carry a 2024 guideline value ranging from Rs 1,700 to Rs 5,500 per sq.ft. The median value is Rs 2,800 per sq.ft, which is equal to the guideline value of Lakshmi Nagar 10th Street Extension.

• Lakshmi Nagar 10th Street: Rs 2,800 per sq.ft (2024)
• Lakshmi Nagar 6th Street Extension: Rs 2,800 per sq.ft (2024)
• Lakshmi Nagar Extension 6th Street: Rs 2,800 per sq.ft (2024)
• Lakshma Nagar 5th Street Extension: Rs 2,800 per sq.ft (2024)
• K V K Samy street: Rs 2,200 per sq.ft (2024)
• Kuppu swamy Street Main: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Lakshmi Nagar 10th Street Extension

For a 1,000 sq.ft plot at the current guideline value of Rs 2,800 per sq.ft, the total guideline value would be Rs 28,00,000. The stamp duty at 7% would be Rs 1,96,000, and the registration fee at 2% would be Rs 56,000, bringing the total to Rs 2,52,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Lakshmi Nagar 10th Street Extension?

The Lakshmi Nagar 10th Street Extension falls under the Alandur Sub Registrar Office, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061. You can find your SRO for more information.

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

The guideline value is a crucial factor during property registration in Ullagaram. It is used to determine the stamp duty and registration fees that must be paid when a property is bought or sold. This value is established by the local government and is updated periodically to reflect market conditions.

When a buyer or seller engages in a transaction, the guideline value ensures that the transaction is recorded at a fair value, which helps in maintaining transparency in property dealings. This is essential for both parties to ensure compliance with legal requirements during the registration process.

Frequently asked questions

What is the current guideline value of Lakshmi Nagar 10th Street Extension?

The current guideline value of Lakshmi Nagar 10th Street Extension is Rs 2,800 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 375 per sq.ft in 2002 to Rs 2,800 per sq.ft in 2024, showing a significant overall increase of 647% over this period.

What is the registration office for Lakshmi Nagar 10th Street Extension?

The registration office for Lakshmi Nagar 10th Street Extension is the Alandur Sub Registrar Office, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061.

What fees are associated with buying property in Lakshmi Nagar 10th Street Extension?

When buying property, the fees include stamp duty at 7% of the guideline value and a registration fee at 2%. These fees are calculated based on the higher of the guideline value or the sale price.

Are there other streets in Ullagaram with the same guideline value?

Yes, there are other streets in Ullagaram with a guideline value of Rs 2,800 per sq.ft, including Lakshmi Nagar 10th Street, Lakshmi Nagar 6th Street Extension, Lakshmi Nagar Extension 6th Street, and Lakshma Nagar 5th Street Extension.