Guideline Value for Lakshmi Nagar Annex

Lakshmi Nagar Annex guideline value

The current guideline value of Lakshmi Nagar Annex, located in Katrampakkam village under the Sriperumpudur SRO, is Rs 250 per sq.ft, effective from 1 July 2024. This property falls under the Residential Class III Type - I land classification.

How the guideline value of Lakshmi Nagar Annex has changed

Over the years, the guideline value of Lakshmi Nagar Annex has seen several revisions. The earliest recorded figure is from 2007, where the guideline value was Rs 100 per sq.ft. This increased to Rs 250 per sq.ft in 2012, marking a significant rise of 150%. However, in 2017, the value was adjusted to Rs 167 per sq.ft, a decrease of 33%. The value then rose again to Rs 250 per sq.ft in 2023 and remained unchanged in the 2024 revision.

From 2017 to 2023, the guideline value increased by 50%. Overall, from 2007 to 2024, the guideline value has increased by 150%. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Katrampakkam

In Katrampakkam, there are 41 streets under the Sriperumpudur SRO that carry a 2024 guideline value ranging from Rs 150 to Rs 800 per sq.ft, with a median value of Rs 250 per sq.ft. The guideline value for Lakshmi Nagar Annex aligns with this median.

• Lakshmi Nagar: Rs 300 per sq.ft (2024)
• Mariyamman Koil Street: Rs 300 per sq.ft (2024)
• Kanniyamman Koil 2nd Street: Rs 250 per sq.ft (2024)
• Kanniyamman Koil 1st Street: Rs 250 per sq.ft (2024)
• Mettu Street: Rs 300 per sq.ft (2024)
• M.G.R Street: Rs 150 per sq.ft (2024)

Stamp duty and registration fee for property in Lakshmi Nagar Annex

For a 1,000 sq.ft plot at the current guideline value of Rs 250 per sq.ft, the total guideline value amounts to Rs 2,50,000. The stamp duty at 7% would be Rs 17,500, and the registration fee at 2% would be Rs 5,000, bringing the total charges to Rs 22,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Lakshmi Nagar Annex?

The Sub Registrar Office that covers Lakshmi Nagar Annex is the Sriperumpudur Sub Registrar Office, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role during the registration of property transactions in Katrampakkam. It serves as a benchmark for determining 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 is referenced to calculate the applicable charges. Buyers should be aware that the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher, to ensure compliance with legal requirements.

Frequently asked questions

What is the current guideline value of Lakshmi Nagar Annex?

The current guideline value of Lakshmi Nagar Annex is Rs 250 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 100 per sq.ft in 2007 to Rs 250 per sq.ft in 2012, then decreased to Rs 167 per sq.ft in 2017, and returned to Rs 250 per sq.ft in both 2023 and 2024.

What are the other streets in Katrampakkam and their guideline values?

Other streets in Katrampakkam include Lakshmi Nagar at Rs 300 per sq.ft, Mariyamman Koil Street at Rs 300 per sq.ft, Kanniyamman Koil 2nd Street at Rs 250 per sq.ft, Kanniyamman Koil 1st Street at Rs 250 per sq.ft, Mettu Street at Rs 300 per sq.ft, and M.G.R Street at Rs 150 per sq.ft for 2024.

What are the stamp duty and registration fees for property in Lakshmi Nagar Annex?

For a 1,000 sq.ft plot at the guideline value of Rs 250 per sq.ft, the total guideline value is Rs 2,50,000. The stamp duty would be Rs 17,500, and the registration fee would be Rs 5,000, totaling Rs 22,500.

Where is the Sub Registrar Office for Lakshmi Nagar Annex located?

The Sub Registrar Office for Lakshmi Nagar Annex is located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone.