Guideline Value for Lakshmi Nagar 1st Lane

Lakshmi Nagar 1st Lane guideline value

The current guideline value for Lakshmi Nagar 1st Lane is Rs 3,900 per sq.ft, effective from 1 July 2024. This street is located in Adambakkam village, under the Alandur SRO, and is classified as Residential Class I Type - III.

How the guideline value of Lakshmi Nagar 1st Lane has changed

The guideline value for Lakshmi Nagar 1st Lane has seen several revisions over the years. Starting from Rs 234 per sq.ft in 2002, it increased to Rs 600 per sq.ft in 2003. The value then rose to Rs 900 per sq.ft in 2007, followed by a significant jump to Rs 3,500 per sq.ft in 2012. However, it decreased to Rs 2,345 per sq.ft in 2017, before climbing to Rs 3,500 per sq.ft in 2023. The most recent revision in 2024 set the value at Rs 3,900 per sq.ft.

Notable changes between the revisions include an increase of 1567% from 2002 to 2024, a decrease of 33% from 2012 to 2017, and an increase of 49% from 2017 to 2023. The change from 2023 to 2024 is an increase of 11%.

Guideline values in Adambakkam

In Adambakkam, there are 569 streets under the Alandur SRO that have a 2024 guideline value ranging from Rs 2,800 to Rs 11,000 per sq.ft. The guideline value for Lakshmi Nagar 1st Lane aligns with the median value of Rs 3,900 per sq.ft for the area.

• Lakshmi nagar 1st Street: Rs 3,900 per sq.ft (2024)
• Lakshmi Nagar 2nd Street: Rs 3,900 per sq.ft (2024)
• Lakshmi Lane: Rs 3,900 per sq.ft (2024)
• Lakshmi Nagar lane: Rs 3,900 per sq.ft (2024)
• Lakshmi Nagar Main Road: Rs 3,900 per sq.ft (2024)
• Lakshmi Nagar Main Road Cross Street: Rs 3,900 per sq.ft (2024)

Stamp duty and registration fee for property in Lakshmi Nagar 1st Lane

For a 1,000 sq.ft plot at the current guideline value of Rs 3,900 per sq.ft, the total guideline value would be Rs 39,00,000. The stamp duty at 7% would amount to Rs 2,73,000, and the registration fee at 2% would be Rs 78,000, bringing the total charges to Rs 3,51,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Lakshmi Nagar 1st Lane?

The Sub Registrar Office that covers Lakshmi Nagar 1st Lane 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 Adambakkam

The guideline value is a crucial factor in the registration process when buying or selling property in Adambakkam. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid at the time of registration.

When a property transaction occurs, the guideline value helps ensure that the appropriate taxes are collected based on the property's assessed value. This value is essential for both buyers and sellers to understand their financial obligations during the registration process.

Frequently asked questions

What is the current guideline value for Lakshmi Nagar 1st Lane?

The current guideline value for Lakshmi Nagar 1st Lane is Rs 3,900 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 234 per sq.ft in 2002 to Rs 3,900 per sq.ft in 2024, reflecting an overall increase of 1567% over this period.

What is the role of the Alandur SRO?

The Alandur SRO is responsible for maintaining the guideline value register and overseeing property registrations in the area, including Lakshmi Nagar 1st Lane.

What fees are associated with property registration?

When registering property, buyers must pay a stamp duty of 7% and a registration fee of 2% based on the guideline value or sale price, whichever is higher.

Where can I find more information about stamp duty and registration fees?

More information can be found using the stamp duty and registration fee calculator.