Guideline Value for Lakshmi Nagar Extn

Lakshmi Nagar Extn guideline value

The current guideline value of Lakshmi Nagar Extn is Rs 550 per sq.ft, effective from 1 July 2024. This street is located in Naduveerapattu village, under the Padappai SRO, and is classified as Residential Class I Type - I.

How the guideline value of Lakshmi Nagar Extn has changed

Over the years, the guideline value for Lakshmi Nagar Extn has seen several revisions. The 2012 revision set the value at Rs 500 per sq.ft, which was then reduced to Rs 335 per sq.ft in the 2017 revision. Following this, the value increased significantly to Rs 500 per sq.ft in the 2023 revision, and finally, it rose to Rs 550 per sq.ft in the 2024 revision, marking a 10% increase from the previous year.

In summary, the changes between revisions reflect a 49% increase from 2017 to 2023, a 33% decrease from 2012 to 2017, and an overall increase of 10% from 2012 to 2024. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Naduveerapattu

Naduveerapattu village has 96 streets under the Padappai SRO that carry a 2024 guideline value ranging from Rs 330 to Rs 2,500 per sq.ft, with a median of Rs 660 per sq.ft. The guideline value of Lakshmi Nagar Extn is below this median.

• Lakshmi Nagar: Rs 550 per sq.ft (2024)
• Madha Nagar: Rs 440 per sq.ft (2024)
• Malar Nagar: Rs 2,010 per sq.ft (2024)
• Krishna Nagar: Rs 330 per sq.ft (2024)
• Metbeev Nagar: Rs 550 per sq.ft (2024)
• Mettis: Rs 550 per sq.ft (2024)

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 550 per sq.ft, the total guideline value amounts to Rs 5,50,000. The stamp duty at 7% would be Rs 38,500, and the registration fee at 2% would be Rs 11,000, bringing the total fees to Rs 49,500. 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 Extn?

The Sub Registrar Office that covers Lakshmi Nagar Extn 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 more information.

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

The guideline value is a crucial factor during the registration process for buying or selling property in Naduveerapattu. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid, ensuring compliance with local regulations.

When a property is sold, the sale price or the guideline value, whichever is higher, is used to calculate the applicable duties and fees. This ensures that the government receives appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Lakshmi Nagar Extn?

The current guideline value of Lakshmi Nagar Extn is Rs 550 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 500 per sq.ft in 2012 to Rs 335 per sq.ft in 2017, then to Rs 500 per sq.ft in 2023, and finally to Rs 550 per sq.ft in 2024.

What is the stamp duty rate for properties in Lakshmi Nagar Extn?

The stamp duty rate for properties in Lakshmi Nagar Extn is 7%, which is calculated on the higher of the guideline value or the sale price.

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

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

What are the guideline values of other streets in Naduveerapattu?

Other streets in Naduveerapattu have varying guideline values, with Lakshmi Nagar at Rs 550 per sq.ft, Madha Nagar at Rs 440 per sq.ft, Malar Nagar at Rs 2,010 per sq.ft, Krishna Nagar at Rs 330 per sq.ft, Metbeev Nagar at Rs 550 per sq.ft, and Mettis at Rs 550 per sq.ft.