Guideline Value for Lakshmi Nagar 6th Street Extension

Lakshmi Nagar 6th Street Extension guideline value

The current guideline value of Lakshmi Nagar 6th Street Extension is Rs 2,800 per sq.ft, effective from 1 July 2024. This property is located in Ullagaram village, under the Alandur SRO, and falls under the Residential Class II Type - I land classification.

How the guideline value of Lakshmi Nagar 6th Street Extension has changed

The guideline value for Lakshmi Nagar 6th Street Extension has undergone 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 change of +12%. The value saw a significant rise to Rs 1,300 per sq.ft in 2007, which was a +210% increase. Following this, the value increased to Rs 2,500 per sq.ft in 2012, reflecting a +92% change. However, it dropped to Rs 1,675 per sq.ft in 2017, which was a decrease of -33%. The value then rose to Rs 2,500 per sq.ft in 2023 with a +49% increase, and finally, it stands at Rs 2,800 per sq.ft in 2024, indicating a +12% change.

There are no figures available for the revisions in the years not mentioned in this summary. The overall change in guideline value from 2002 to 2024 is +647%.

Guideline values in Ullagaram

In Ullagaram, there are 298 streets under the Alandur SRO with a 2024 guideline value range from Rs 1,700 to Rs 5,500 per sq.ft. The median value for this area is Rs 2,800 per sq.ft, which is the same as the guideline value for Lakshmi Nagar 6th Street Extension.

• Lakshmi Nagar Extension 6th Street: Rs 2,800 per sq.ft (2024)
• Lakshmi Nagar 10th Street Extension: Rs 2,800 per sq.ft (2024)
• Lakshmi Nagar 10th 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 6th Street Extension

For a 1,000 sq.ft plot at the current rate of Rs 2,800 per sq.ft, the 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 guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Lakshmi Nagar 6th Street Extension?

The Sub Registrar Office that covers Lakshmi Nagar 6th Street Extension 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 information.

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

The guideline value is a crucial factor when registering property transactions in Ullagaram. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is recorded accurately in the government records.

When buying or selling property, the guideline value helps in calculating the applicable stamp duty and registration fees. This ensures that both the buyer and seller are aware of the financial obligations involved in the transaction.

Frequently asked questions

What is the current guideline value of Lakshmi Nagar 6th Street Extension?

The current guideline value of Lakshmi Nagar 6th 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 changed from Rs 375 per sq.ft in 2002 to Rs 2,800 per sq.ft in 2024, showing an overall increase of +647% over the years.

What are the other streets in Ullagaram with the same guideline value?

Several other streets in Ullagaram have the same guideline value of Rs 2,800 per sq.ft in 2024, including Lakshmi Nagar Extension 6th Street, Lakshmi Nagar 10th Street Extension, Lakshmi Nagar 10th Street, and Lakshma Nagar 5th Street Extension.

What is the registration fee for properties in Lakshmi Nagar 6th Street Extension?

The registration fee for properties in Lakshmi Nagar 6th Street Extension is calculated based on the guideline value. For example, for a plot valued at Rs 28,00,000, the registration fee would be Rs 56,000 at a rate of 2%.

Where is the Sub Registrar Office for Lakshmi Nagar 6th Street Extension located?

The Sub Registrar Office for Lakshmi Nagar 6th Street Extension is the Alandur Sub Registrar Office, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061.