Guideline Value

Corporate

Guideline Value for Lakshmi Nagar Extn

₹770/sq.ft.

The guideline value for Lakshmi Nagar Extn in Manimangalam A village (Padappai SRO, Chennai zone) is Rs 770 per sq.ft, effective 1 July 2024. It was Rs 700 per sq.ft from 1 April 2023, a 10% change. The land classification is Residential Class Ii Type - I. Source: TNReginet guideline value register.

Last updated:

Chennai

Zone

Manimangalam A

Village

Padappai

SRO

Residential Class II Type - I
History
Period Guideline Value
From 1-7-2024 ₹770 /sq.ft.
From 1-4-2023 ₹700 /sq.ft.
From 9-6-2017 To 31-3-2023 ₹469 /sq.ft.
From 1-4-2012 To 8-6-2017 N/A
From 1-8-2007 To 31-3-2012 N/A
From 1-4-2003 To 31-7-2007 N/A
From 1-4-2002 To 31-3-2003 N/A
Guideline Value Timeline
Guideline Value Comparison

SRO (Sub Registrar Office)

3/158, Pushpagiri Main Rd, Padappai - 601 301.
044-27174392
[email protected]

DRO (District Registrar Office)

Integrated Building For Offices Of The Commercial Taxes And Registration Department, Fanepet, Nandhanam, Chennai - 35.
044-22505552
[email protected], [email protected]

DIG (Deputy Inspector General)

Integrated Building For Offices Of The Commercial Taxes And Registration, Department Fanepet, Nandanam, Chennai - 600 035.
044-29510527
[email protected]
Records for a plot on Lakshmi Nagar Extn

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Lakshmi Nagar Extn guideline value

The current guideline value of Lakshmi Nagar Extn is Rs 770 per sq.ft, effective from 1 July 2024. This area is located in Manimangalam A village under the Padappai Sub Registrar Office (SRO) and is classified as Residential Class II Type - I.

How the guideline value of Lakshmi Nagar Extn has changed

The guideline value for Lakshmi Nagar Extn has seen several revisions over the years. The 2017 revision set the value at Rs 469 per sq.ft, which increased to Rs 700 per sq.ft in the 2023 revision. The latest revision in 2024 raised the guideline value to Rs 770 per sq.ft, marking a 10% increase from the previous year.

Overall, from the 2017 revision to the 2024 revision, the guideline value has increased by 64%. The 2023 to 2024 change was a 10% rise, while the increase from 2017 to 2023 was 49%. It is important to note that there are no figures available for the years 2002, 2003, 2007, and 2012 for this street.

Guideline values in Manimangalam A

In Manimangalam A, there are 112 streets under the Padappai SRO that carry a 2024 guideline value ranging from Rs 550 to Rs 2,500 per sq.ft, with a median value of Rs 880 per sq.ft. Lakshmi Nagar Extn's guideline value of Rs 770 per sq.ft is below this median.

Stamp duty and registration fee for property in Lakshmi Nagar Extn

For a 1,000 sq.ft plot at the current guideline value of Rs 770 per sq.ft, the total guideline value amounts to Rs 7,70,000. The stamp duty at 7% would be Rs 53,900, and the registration fee at 2% would be Rs 15,400, bringing the total fees together to Rs 69,300. It is important to note that 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 Extn?

The Lakshmi Nagar Extn area is covered by the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in the property registration process in Manimangalam A. When buying or selling property, the guideline value is used to determine the stamp duty and registration fees that must be paid at the time of registration.

It is essential for buyers and sellers to be aware of the current guideline value, as it impacts the overall cost of the transaction. Ensuring accurate calculations based on the guideline value can help in avoiding any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Lakshmi Nagar Extn?

The current guideline value of Lakshmi Nagar Extn is Rs 770 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 469 per sq.ft in 2017 to Rs 700 per sq.ft in 2023, and then to Rs 770 per sq.ft in 2024. This represents an overall increase of 64% from 2017 to 2024.

What is the land classification of Lakshmi Nagar Extn?

Lakshmi Nagar Extn is classified as Residential Class II Type - I. This classification determines the usage and development regulations for the area.

What are the stamp duty and registration fees for properties in Lakshmi Nagar Extn?

For a property valued at Rs 7,70,000, the stamp duty would be Rs 53,900 and the registration fee would be Rs 15,400, totaling Rs 69,300. These fees are calculated based on the guideline value or the sale price, whichever is higher.

Where can I find the Sub Registrar Office for Lakshmi Nagar Extn?

The Padappai Sub Registrar Office covers Lakshmi Nagar Extn and is located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone. You can find more information online.