Guideline Value for Lakshmi Nagar 9th Street

Lakshmi Nagar 9th Street guideline value

The current guideline value of Lakshmi Nagar 9th 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 9th Street has changed

The guideline value for Lakshmi Nagar 9th Street has seen several revisions over the years. In 2007, the value was Rs 1,700 per sq.ft, which increased significantly to Rs 4,000 per sq.ft in 2012, marking a 135% rise. However, it then decreased to Rs 2,680 per sq.ft in 2017, a drop of 33%. The value rose again to Rs 4,000 per sq.ft in 2023, and currently stands at Rs 4,400 per sq.ft as of the 2024 revision, reflecting a 10% increase from the previous year.

There are no figures available for the years 2002 and 2003 in the register for this street. Overall, from 2007 to 2024, the guideline value has increased by 159%.

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, placing Lakshmi Nagar 9th Street above this median with its current value of Rs 4,400 per sq.ft.

• Lakshmi Nagar 8th Street: Rs 4,400 per sq.ft (2024)
• Lakshmi Nagar 7th Street Extension: 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 9th 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 these fees would be Rs 3,96,000. 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 9th Street?

The Sub Registrar Office that covers Lakshmi Nagar 9th 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 critical factor when buying or selling property in Thalakanancherry. It serves as the basis for calculating stamp duty and registration fees, which are mandatory during the registration process. Buyers and sellers must be aware of the current guideline value to ensure accurate financial planning during transactions.

When a property is sold, the guideline value is compared to the sale price, and the higher of the two is used for calculating the applicable fees. This ensures that the government receives the correct amount of revenue from property transactions.

Frequently asked questions

What is the current guideline value of Lakshmi Nagar 9th Street?

The current guideline value of Lakshmi Nagar 9th 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, marking an overall increase of 159% over the years.

What are the stamp duty and registration fees for properties in Lakshmi Nagar 9th Street?

The stamp duty is calculated at 7% and the registration fee at 2% of the guideline value or sale price, whichever is higher. For a 1,000 sq.ft plot, the total fees would amount to Rs 3,96,000.

What Sub Registrar Office covers Lakshmi Nagar 9th Street?

The Alandur Sub Registrar Office covers Lakshmi Nagar 9th Street, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061.

What is the land classification for Lakshmi Nagar 9th Street?

Lakshmi Nagar 9th Street is classified as Residential Class I Type - II, indicating its suitability for residential purposes.