Guideline Value for Lakshmi Nagar Extension 6th Street

Lakshmi Nagar Extension 6th Street guideline value

The current guideline value of Lakshmi Nagar Extension 6th Street is Rs 2,800 per sq.ft, effective from 1 July 2024. This street is located in Ullagaram village and falls under the Alandur SRO. The land classification for this area is Residential Class II Type - I.

How the guideline value of Lakshmi Nagar Extension 6th Street has changed

The guideline value for Lakshmi Nagar Extension 6th Street has seen several revisions over the years. The earliest recorded revision was in 2002, with a value of Rs 375 per sq.ft. This increased to Rs 420 per sq.ft in 2003, marking a change of +12%. The value continued to rise significantly to Rs 1,300 per sq.ft in 2007, a remarkable increase of +210%. In 2012, the guideline value was Rs 2,500 per sq.ft, reflecting a decrease of -33% from the previous revision. The value then rose again to Rs 1,675 per sq.ft in 2017, showing a +49% change. The most recent revision in 2023 set the value at Rs 2,500 per sq.ft, before it increased to the current rate of Rs 2,800 per sq.ft in 2024, which is a +12% change.

There are no figures available for the revisions of the years not listed in the register for this street. Overall, from 2002 to 2024, the guideline value has increased by +647%.

Guideline values in Ullagaram

In Ullagaram, there are 298 streets under the Alandur SRO that have a 2024 guideline value ranging from Rs 1,700 to Rs 5,500 per sq.ft. The median value is Rs 2,800 per sq.ft, which is equal to the current guideline value of Lakshmi Nagar Extension 6th Street.

• Lakshmi Nagar 6th Street Extension: Rs 2,800 per sq.ft (2024)
• Lakshmi Nagar 10th Street Extension: Rs 2,800 per sq.ft (2024)
• Lakshmi Nagar 10th Street: Rs 2,800 per sq.ft (2024)
• Lakshma Nagar 5th Street Extension: Rs 2,800 per sq.ft (2024)
• K V K Samy street: Rs 2,200 per sq.ft (2024)
• Kuppu swamy Street Main: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Lakshmi Nagar Extension 6th Street

For a 1,000 sq.ft plot at the current guideline value, the total value is Rs 28,00,000. The stamp duty at 7% would be Rs 1,96,000, and the registration fee at 2% would be Rs 56,000, totaling Rs 2,52,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Lakshmi Nagar Extension 6th Street?

The Sub Registrar Office that covers Lakshmi Nagar Extension 6th Street is 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 Ullagaram

The guideline value is a critical factor in the registration process when buying or selling property in Ullagaram. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is recorded accurately in the official records.

When a property is sold, the guideline value helps in calculating the applicable stamp duty and registration fees. Buyers and sellers must be aware of the current guideline value to ensure compliance with local regulations during the property transaction.

Frequently asked questions

What is the current guideline value of Lakshmi Nagar Extension 6th Street?

The current guideline value of Lakshmi Nagar Extension 6th Street is Rs 2,800 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 375 per sq.ft in 2002 to Rs 2,800 per sq.ft in 2024, reflecting an overall increase of +647% over the years.

What is the land classification for Lakshmi Nagar Extension 6th Street?

The land classification for Lakshmi Nagar Extension 6th Street is Residential Class II Type - I.

Where is the Alandur Sub Registrar Office located?

The Alandur Sub Registrar Office is located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061.

How is stamp duty calculated for properties in Ullagaram?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 28,00,000, the stamp duty at 7% would be Rs 1,96,000.