Guideline Value for Lakshmi Nagar Entn

Lakshmi Nagar Entn guideline value

The current guideline value of Lakshmi Nagar Entn is Rs 990 per sq.ft, effective from 1 July 2024. This property is located in Nandambakkam village, under the Padappai SRO, classified as Residential Special Type - I.

How the guideline value of Lakshmi Nagar Entn has changed

The guideline value for Lakshmi Nagar Entn has undergone several revisions over the years. The 2012 revision set the value at Rs 800 per sq.ft, which then decreased to Rs 603 per sq.ft in 2017. Following this, the value increased significantly to Rs 900 per sq.ft in 2023, and currently stands at Rs 990 per sq.ft from the 2024 revision, marking a 10% increase from the previous year.

From 2012 to 2017, there was a decrease of 25%, but from 2017 to 2023, the value rose by 49%. Overall, from 2012 to 2024, the guideline value has increased by 24%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Nandambakkam

In Nandambakkam, there are 94 streets under the Padappai SRO that carry a 2024 guideline value ranging from Rs 440 to Rs 2,300 per sq.ft, with a median value of Rs 880 per sq.ft. The guideline value for Lakshmi Nagar Entn is above this median.

• Lakshmi Nagar: Rs 880 per sq.ft (2024)
• Kumaran Nagar: Rs 990 per sq.ft (2024)
• Mahalakshmi Nagar: Rs 720 per sq.ft (2024)
• Mahalakshmi Nagar Extn I and II: Rs 990 per sq.ft (2024)
• Mallika Nagar: Rs 990 per sq.ft (2024)
• Krishna Nagar: Rs 990 per sq.ft (2024)

Stamp duty and registration fee for property in Lakshmi Nagar Entn

For a 1,000 sq.ft plot at the current guideline value of Rs 990 per sq.ft, the total guideline value would be Rs 9,90,000. The stamp duty at 7% would amount to Rs 69,300, and the registration fee at 2% would be Rs 19,800, totaling Rs 89,100. It is important to note that the duty is charged on the higher of the guideline value and the sale price. For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Lakshmi Nagar Entn?

The Sub Registrar Office covering Lakshmi Nagar Entn is the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone. You can find your SRO for further assistance.

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

The guideline value is a crucial factor in the registration process for property transactions in Nandambakkam. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid when a property is bought or sold.

When registering a property, the guideline value is compared with the sale price, and the higher of the two is used to calculate the applicable duties. This ensures that the government receives appropriate revenue based on the property's value at the time of transaction.

Frequently asked questions

What is the current guideline value of Lakshmi Nagar Entn?

The current guideline value of Lakshmi Nagar Entn is Rs 990 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 800 per sq.ft in 2012 to Rs 603 per sq.ft in 2017, then to Rs 900 per sq.ft in 2023, and finally to Rs 990 per sq.ft in 2024.

What is the land classification for Lakshmi Nagar Entn?

Lakshmi Nagar Entn is classified as Residential Special Type - I, indicating its suitability for residential development.

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

The Padappai Sub Registrar Office is located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone.

How is stamp duty calculated for properties in Lakshmi Nagar Entn?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, for a 1,000 sq.ft plot at Rs 990 per sq.ft, the total guideline value would be Rs 9,90,000, resulting in a stamp duty of Rs 69,300.