Guideline Value for Lakshmi Nagar Main Road

Lakshmi Nagar Main Road guideline value

The current guideline value of Lakshmi Nagar Main Road is Rs 1,300 per sq.ft. This road is located in Chembakkam village, under the Selaiyur SRO, and is classified as Residential Class III Type - I.

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 most recent revision in 2024 set the value at Rs 1,300 per sq.ft, an increase from Rs 1,200 per sq.ft in 2023, marking an 8% rise. Prior to that, the value was Rs 804 per sq.ft in 2017, reflecting a significant increase of 49% from that year to 2023. The 2012 revision also set the value at Rs 1,200 per sq.ft, which was a decrease of 33% from the 2017 figure.

There are no figures available in the register for the years 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has increased by 8%.

Guideline values in Chembakkam

In Chembakkam, there are 472 streets under the Selaiyur SRO with a 2024 guideline value ranging from Rs 850 to Rs 6,700 per sq.ft. The median value for these streets is Rs 2,200 per sq.ft, placing Lakshmi Nagar Main Road's 2024 figure below that median.

• Lakshmi Nagar 2nd Street: Rs 1,300 per sq.ft (2024)
• Lakshmi Nagar 1 St Street: Rs 1,300 per sq.ft (2024)
• Lakshmi Nagar: Rs 4,800 per sq.ft (2024)
• Maha Ganapathy Street: Rs 1,400 per sq.ft (2024)
• Maha Sakthi Colony: Rs 2,400 per sq.ft (2024)
• Maha Sakthi Colony 1st Cross Street: Rs 2,400 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 1,300 per sq.ft, the total guideline value amounts to Rs 13,00,000. The stamp duty at 7% would be Rs 91,000, and the registration fee at 2% would be Rs 26,000, bringing the total fees to Rs 1,17,000. 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 detailed calculations.

Which Sub Registrar Office covers Lakshmi Nagar Main Road?

The Sub Registrar Office covering Lakshmi Nagar Main Road is the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is crucial when registering property transactions in Chembakkam. It serves as a benchmark for determining the minimum value at which a property can be sold or purchased, ensuring that the transaction is recorded accurately in the official registry.

When you buy or sell property, the guideline value impacts the stamp duty and registration fees you will need to pay. It is essential to understand this value to avoid any discrepancies during the registration process.

Frequently asked questions

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

The current guideline value of Lakshmi Nagar Main Road is Rs 1,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,200 per sq.ft in 2023 to Rs 1,300 per sq.ft in 2024. It was Rs 804 per sq.ft in 2017, indicating a significant increase over the years.

What is the land classification for Lakshmi Nagar Main Road?

Lakshmi Nagar Main Road is classified as Residential Class III Type - I, which indicates its intended use for residential purposes.

Where can I find the Selaiyur Sub Registrar Office?

The Selaiyur Sub Registrar Office is located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073.

How is the stamp duty calculated for properties in Lakshmi Nagar Main Road?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, on a property valued at Rs 13,00,000, the stamp duty would be Rs 91,000 at a rate of 7%.