Guideline Value for Lakshmi Nagar 7th Street

Lakshmi Nagar 7th Street guideline value

The current guideline value of Lakshmi Nagar 7th Street is Rs 4,400 per sq.ft, effective from 1 July 2024. This street is located in Thalakanancherry village, under the Alandur SRO, and is classified as Residential Class I Type - II.

How the guideline value of Lakshmi Nagar 7th Street has changed

The guideline value for Lakshmi Nagar 7th Street has undergone several revisions over the years. In the 2007 revision, the value was Rs 1,700 per sq.ft, which increased significantly to Rs 4,000 per sq.ft in 2012. However, in the 2017 revision, it decreased to Rs 2,680 per sq.ft before rising again to Rs 4,000 per sq.ft in 2023.

From 2023 to 2024, the guideline value increased by 10%, bringing it to Rs 4,400 per sq.ft. Overall, from the 2007 revision to the current 2024 figure, there has been an increase of 159%. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Thalakanancherry

In Thalakanancherry, there are 318 streets under the Alandur SRO, with guideline values ranging from Rs 2,200 to Rs 5,500 per sq.ft. The median guideline value is Rs 3,900 per sq.ft, making the 2024 figure for Lakshmi Nagar 7th Street above this median.

• Lakshmi Nagar 7th Stage: Rs 4,400 per sq.ft (2024)
• Lakshmi Nagar 7th Street Extension: Rs 4,400 per sq.ft (2024)
• Lakshmi Nagar 8th Street: Rs 4,400 per sq.ft (2024)
• Lakshmi Nagar 9th Street: Rs 4,400 per sq.ft (2024)
• Lakshmi Nagar 6th Street: Rs 4,400 per sq.ft (2024)
• Lakshmi Nagar 5th Street: Rs 4,400 per sq.ft (2024)

Stamp duty and registration fee for property in Lakshmi Nagar 7th Street

For a 1,000 sq.ft plot at the current guideline value of Rs 4,400 per sq.ft, the total guideline value would be Rs 44,00,000. The stamp duty at 7% would amount to Rs 3,08,000, and the registration fee at 2% would be Rs 88,000, totaling Rs 3,96,000. 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 7th Street?

The Lakshmi Nagar 7th Street is covered by the Alandur Sub Registrar Office, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061. To find your SRO, you can visit find your SRO.

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

The guideline value is a crucial factor in property transactions in Thalakanancherry. It determines the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue from stamp duties and registration fees.

When buying or selling property, the guideline value serves as a reference point for calculating the applicable stamp duty and registration fees. Buyers should be aware that these fees are based on the higher of the guideline value or the sale price.

Frequently asked questions

What is the current guideline value of Lakshmi Nagar 7th Street?

The current guideline value of Lakshmi Nagar 7th Street is Rs 4,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,700 per sq.ft in 2007 to Rs 4,400 per sq.ft in 2024, reflecting an overall increase of 159% over the years.

What are the stamp duty and registration fees for property in Lakshmi Nagar 7th Street?

For a property valued at Rs 44,00,000, the stamp duty would be Rs 3,08,000 and the registration fee would be Rs 88,000, totaling Rs 3,96,000.

Which office handles registrations for Lakshmi Nagar 7th Street?

The Alandur Sub Registrar Office handles registrations for Lakshmi Nagar 7th Street, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061.

What is the land classification for Lakshmi Nagar 7th Street?

Lakshmi Nagar 7th Street is classified as Residential Class I Type - II under the guideline value regulations.