Guideline Value for Lakshmi Nagar Extension

Lakshmi Nagar Extension guideline value

The current guideline value of Lakshmi Nagar Extension in Karasangal village, under the Sriperumpudur SRO, is Rs 600 per sq.ft. This value was established in the 2023 revision.

How the guideline value of Lakshmi Nagar Extension has changed

In the 2017 revision, the guideline value was Rs 402 per sq.ft. The most recent revision in 2023 saw an increase of 49%, bringing the guideline value to Rs 600 per sq.ft. There are no figures available for the years 2002, 2003, 2007, 2012, and 2024 for this street.

To summarize the changes, the guideline value increased from Rs 402 per sq.ft in 2017 to Rs 600 per sq.ft in 2023. This change reflects a significant rise in the guideline value over the six-year period.

Guideline values in Karasangal

In Karasangal, there are 59 streets under the Sriperumpudur SRO that carry a 2024 guideline value, ranging from Rs 100 to Rs 3,550 per sq.ft, with a median of Rs 402 per sq.ft. Lakshmi Nagar Extension is currently valued at Rs 600 per sq.ft.

• Lakshmi Nagar: Rs 600 per sq.ft (2024)
• Lakshmana Narayana Perumal Koil Street: Rs 250 per sq.ft (2024)
• LookMan Nagar: Rs 250 per sq.ft (2024)
• Malleeswara Koil Street: Rs 250 per sq.ft (2024)
• Manthaveli Amman Koil Street: Rs 250 per sq.ft (2024)
• M.G.R. Street: Rs 402 per sq.ft (2024)

Stamp duty and registration fee for property in Lakshmi Nagar Extension

For a 1,000 sq.ft plot at the current guideline value of Rs 600 per sq.ft, the total guideline value amounts to Rs 6,00,000. The stamp duty at 7% would be Rs 42,000, and the registration fee at 2% would be Rs 12,000, making the total fees together Rs 54,000. 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 Extension?

The Sub Registrar Office that covers Lakshmi Nagar Extension 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 Karasangal

The guideline value is a critical factor in the registration of property transactions in Karasangal. When a property is bought or sold, the guideline value is used to determine the applicable stamp duty and registration fees, ensuring that the transaction is recorded accurately in the official registry.

Buyers and sellers must be aware that the guideline value may differ from the actual sale price. The authorities will charge the stamp duty based on the higher of the two values, which can affect the overall cost of the transaction.

Frequently asked questions

What is the current guideline value of Lakshmi Nagar Extension?

The current guideline value of Lakshmi Nagar Extension is Rs 600 per sq.ft, as per the 2023 revision.

How much has the guideline value changed since 2017?

Since the 2017 revision, the guideline value has increased from Rs 402 per sq.ft to Rs 600 per sq.ft, reflecting a rise of 49%.

Are there any revisions with no figures for Lakshmi Nagar Extension?

Yes, the register has no figures for Lakshmi Nagar Extension for the years 2002, 2003, 2007, 2012, and 2024.

What is the registration office for Lakshmi Nagar Extension?

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

How is the stamp duty calculated for property transactions?

The stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at Rs 600 per sq.ft, the total guideline value would be Rs 6,00,000, leading to a stamp duty of Rs 42,000 at 7%.