Guideline Value for Lakshmi Nagar 10th Street

Lakshmi Nagar 10th Street guideline value

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

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

The guideline value for Lakshmi Nagar 10th Street has seen several revisions over the years. In 2002, the value was Rs 375 per sq.ft, which increased to Rs 420 per sq.ft in 2003. The value then rose significantly to Rs 1,300 per sq.ft in 2007, followed by a jump to Rs 2,500 per sq.ft in 2012. However, it decreased to Rs 1,675 per sq.ft in 2017. The value then increased to Rs 2,500 per sq.ft in 2023 before reaching the current value of Rs 2,800 per sq.ft in 2024.

Examining the changes between these revisions, from 2017 to 2023, there was an increase of 49%. The value rose by 92% from 2007 to 2012, while the increase from 2003 to 2007 was 210%. The overall change from 2002 to 2024 reflects a substantial increase of 647%.

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 current guideline value of Lakshmi Nagar 10th Street.

• Lakshmi Nagar 10th Street Extension: 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

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 amount to Rs 1,96,000, and the registration fee at 2% would be Rs 56,000. Together, the total fees would be 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 information on calculating fees, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Lakshmi Nagar 10th Street?

The Sub Registrar Office that covers Lakshmi Nagar 10th Street is 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 details.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Ullagaram. It serves as a reference for determining the minimum value at which a property can be registered. Buyers and sellers must consider this value to ensure compliance with local regulations.

When a property is sold, the guideline value is used to calculate the applicable stamp duty and registration fees. This ensures that the transaction is recorded accurately and that the necessary fees are paid to the government.

Frequently asked questions

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

The current guideline value of Lakshmi Nagar 10th Street 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 changed from Rs 375 per sq.ft in 2002 to Rs 2,800 per sq.ft in 2024, reflecting an overall increase of 647% over the years.

What are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 28,00,000, the stamp duty would be Rs 1,96,000 and the registration fee would be Rs 56,000, totaling Rs 2,52,000.

Which office handles property registrations in this area?

The Alandur Sub Registrar Office handles property registrations for Lakshmi Nagar 10th Street, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061.

What is the land classification of Lakshmi Nagar 10th Street?

Lakshmi Nagar 10th Street is classified as Residential Class II Type - I, indicating its suitability for residential purposes.