Guideline Value for Lakshmi Nagar Main Road

Lakshmi Nagar Main Road guideline value

The current guideline value of Lakshmi Nagar Main Road is Rs 1,320 per sq.ft, effective from 1 July 2024. This street is located in Pozhichalur village under the Pammal SRO, classified as Residential Class I Type - II.

How the guideline value of Lakshmi Nagar Main Road has changed

The guideline value for Lakshmi Nagar Main Road has seen several revisions over the years. The 2017 revision set the value at Rs 804 per sq.ft. In 2023, this increased to Rs 1,200 per sq.ft, marking a 49% rise. The latest revision in 2024 has further increased the value to Rs 1,320 per sq.ft, reflecting a 10% increase from the previous year.

Overall, from the 2017 revision to the 2024 revision, the guideline value has increased by 64%. It is important to note that the register has no figures for the years 2002, 2003, 2007, and 2012 for this street.

Guideline values in Pozhichalur

In Pozhichalur, there are 299 streets under the Pammal SRO that carry a 2024 guideline value, ranging from Rs 1,100 to Rs 4,500 per sq.ft. The median value is Rs 1,320 per sq.ft, which is equal to the current guideline value of Lakshmi Nagar Main Road.

• Lakshmi Nagar: Rs 1,320 per sq.ft (2024)
• Kuturavu Colony: Rs 1,100 per sq.ft (2024)
• Lingam Nagar: Rs 1,320 per sq.ft (2024)
• Kurunji Street: Rs 1,100 per sq.ft (2024)
• Kulothungan Street: Rs 1,100 per sq.ft (2024)
• Mahalakshmi Nagar: Rs 1,100 per sq.ft (2024)

Stamp duty and registration fee for property in Lakshmi Nagar Main Road

For a 1,000 sq.ft plot at the current guideline value of Rs 1,320 per sq.ft, the total guideline value amounts to Rs 13,20,000. The stamp duty at 7% would be Rs 92,400, and the registration fee at 2% would be Rs 26,400, totaling Rs 1,18,800. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can also use our stamp duty and registration fee calculator for more accurate calculations.

Which Sub Registrar Office covers Lakshmi Nagar Main Road?

The Sub Registrar Office that covers Lakshmi Nagar Main Road is the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor when registering property transactions in Pozhichalur. It determines the minimum value at which a property can be sold and is used to calculate stamp duty and registration fees.

When buying or selling property, the guideline value ensures that the transaction is recorded at a fair value, preventing undervaluation for tax purposes. Buyers and sellers should be aware of the current guideline value to ensure compliance with local regulations.

Frequently asked questions

What is the current guideline value for Lakshmi Nagar Main Road?

The current guideline value for Lakshmi Nagar Main Road is Rs 1,320 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 804 per sq.ft in 2017 to Rs 1,320 per sq.ft in 2024, showing an overall increase of 64% over the years.

Where can I find the registration office for Lakshmi Nagar Main Road?

The registration office for Lakshmi Nagar Main Road is the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075.

What is the stamp duty rate applicable in Pozhichalur?

The stamp duty rate applicable in Pozhichalur is 7% of the guideline value or the sale price, whichever is higher.

How do I calculate the registration fee for property in Lakshmi Nagar Main Road?

The registration fee for property in Lakshmi Nagar Main Road is calculated at 2% of the guideline value. For example, for a property valued at Rs 13,20,000, the registration fee would be Rs 26,400.