Guideline Value for Lakshmi Nagar Main

Lakshmi Nagar Main guideline value

The current guideline value of Lakshmi Nagar Main in Thalakanancherry village is Rs 4,400 per sq.ft, effective from 1 July 2024. This property falls under the Alandur SRO and is classified as Residential Class I Type - II.

How the guideline value of Lakshmi Nagar Main has changed

Over the years, the guideline value for Lakshmi Nagar Main has seen significant changes. In 2007, the guideline value was Rs 1,700 per sq.ft. This figure rose to Rs 4,000 per sq.ft in 2012, marking an increase of 135%. However, it then decreased to Rs 2,680 per sq.ft in 2017, a drop of 33%. The value then increased dramatically to Rs 4,000 per sq.ft in 2023, followed by a further rise to Rs 4,400 per sq.ft in 2024, reflecting a 10% increase.

From 2017 to 2023, the guideline value saw a substantial increase of 49%. Overall, from 2007 to 2024, the guideline value has increased by 159%. The register has no figures for the revisions in 2002 and 2003 for this street.

Guideline values in Thalakanancherry

Within Thalakanancherry, there are 318 streets under the Alandur SRO that carry a 2024 guideline value ranging from Rs 2,200 to Rs 5,500 per sq.ft. The median guideline value for these streets is Rs 3,900 per sq.ft, placing Lakshmi Nagar Main's 2024 figure above this median.

• Lakshmi Narasimma Koil Street: Rs 4,400 per sq.ft (2024)
• Lakshmi Nagar 9th Street: Rs 4,400 per sq.ft (2024)
• Lakshmi Nagar 8th Street: Rs 4,400 per sq.ft (2024)
• Lakshmi Nagar 7th Street Extension: Rs 4,400 per sq.ft (2024)
• Lakshmi Nagar 7th Street: Rs 4,400 per sq.ft (2024)
• Lakshmi Nagar 7th Stage: Rs 4,400 per sq.ft (2024)

Stamp duty and registration fee for property in Lakshmi Nagar Main

For a 1,000 sq.ft plot at the current guideline value of Rs 4,400 per sq.ft, the total guideline value amounts to Rs 44,00,000. The stamp duty at 7% would be Rs 3,08,000, and the registration fee at 2% would be Rs 88,000, bringing the total to Rs 3,96,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can also use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Lakshmi Nagar Main?

The Lakshmi Nagar Main property is covered by the Alandur Sub Registrar Office, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061. You can find your SRO for more information.

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

When buying or selling property in Thalakanancherry, the guideline value is essential for determining the applicable stamp duty and registration fees. This value serves as a benchmark for both buyers and sellers during the transaction process.

It is important to note that the guideline value is not the same as the market price. The registration office uses the guideline value to calculate the necessary fees, ensuring that all transactions are conducted transparently and fairly.

Frequently asked questions

What is the current guideline value of Lakshmi Nagar Main?

The current guideline value of Lakshmi Nagar Main is Rs 4,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 1,700 per sq.ft in 2007 to Rs 4,400 per sq.ft in 2024, reflecting an overall increase of 159% over the years.

What is the land classification for Lakshmi Nagar Main?

Lakshmi Nagar Main is classified under Residential Class I Type - II, indicating its suitability for residential purposes.

Where can I find the Alandur Sub Registrar Office?

The Alandur Sub Registrar Office is located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061.

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

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft property at the current guideline value incurs a total stamp duty of Rs 3,08,000.