Guideline Value for Lakshmi Nagar 8th Street

Lakshmi Nagar 8th Street guideline value

The current guideline value of Lakshmi Nagar 8th Street is Rs 4,400 per sq.ft, effective from 1 July 2024. This street is located in Thalakanancherry village under the Alandur SRO, classified as Residential Class I Type - II.

How the guideline value of Lakshmi Nagar 8th Street has changed

The guideline value for Lakshmi Nagar 8th Street has undergone several revisions over the years. The earliest recorded revision was in 2007, with a guideline value of Rs 1,700 per sq.ft. This increased significantly to Rs 4,000 per sq.ft in 2012, marking a 135% rise. However, the value then decreased to Rs 2,680 per sq.ft in 2017, a drop of 33%. The value saw a substantial increase to Rs 4,000 per sq.ft in 2023, followed by another increase to Rs 4,400 per sq.ft in 2024, which is a 10% rise.

Between the 2017 and 2023 revisions, the value increased by 49%. Overall, from 2007 to 2024, the guideline value has increased by 159%. It is important to note that 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 a 2024 guideline value range from Rs 2,200 to Rs 5,500 per sq.ft. The median guideline value for these streets is Rs 3,900 per sq.ft, placing Lakshmi Nagar 8th Street's 2024 figure above that median.

• Lakshmi Nagar 7th Street Extension: Rs 4,400 per sq.ft (2024)
• Lakshmi Nagar 9th Street: Rs 4,400 per sq.ft (2024)
• Lakshmi Nagar 7th Street: Rs 4,400 per sq.ft (2024)
• Lakshmi Nagar 7th Stage: 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 8th 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, while the registration fee at 2% would be Rs 88,000. Together, the total cost for stamp duty and registration fee would be Rs 3,96,000. It is important to note that 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 8th Street?

The Sub Registrar Office that covers Lakshmi Nagar 8th 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 information.

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

The guideline value is a crucial factor when registering property transactions in Thalakanancherry. It serves as a benchmark for determining the minimum value at which property can be registered. Buyers and sellers must consider this value to ensure compliance with legal requirements during the registration process.

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 taxes are paid based on the guideline value or the sale price, whichever is higher.

Frequently asked questions

What is the current guideline value of Lakshmi Nagar 8th Street?

The current guideline value of Lakshmi Nagar 8th 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 significantly, increasing from Rs 1,700 per sq.ft in 2007 to Rs 4,400 per sq.ft in 2024, which is a total increase of 159% over the years.

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

Other streets in Thalakanancherry with the same guideline value of Rs 4,400 per sq.ft include Lakshmi Nagar 7th Street Extension, Lakshmi Nagar 9th Street, Lakshmi Nagar 7th Street, Lakshmi Nagar 7th Stage, Lakshmi Nagar 6th Street, and Lakshmi Nagar 5th Street.

What fees are associated with buying property in Lakshmi Nagar 8th Street?

When buying property in Lakshmi Nagar 8th Street, buyers should be aware of the stamp duty at 7% and the registration fee at 2% of the guideline value or sale price, whichever is higher.

Where can I find the Sub Registrar Office for Lakshmi Nagar 8th Street?

The Sub Registrar Office for Lakshmi Nagar 8th Street is located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061. This office handles the registration of property transactions in the area.