Guideline Value for Lakshmi Nagar Phase - III

Lakshmi Nagar Phase - III guideline value

The current guideline value of Lakshmi Nagar Phase - III is Rs 2,970 per sq.ft, effective from 1 July 2024. This property is located in Agaramthen village under the Tambaram Joint 1 SRO and is classified as Mixed Special Type - I.

How the guideline value of Lakshmi Nagar Phase - III has changed

The guideline value for Lakshmi Nagar Phase - III has seen several revisions over the years. The 2017 revision set the value at Rs 1,800 per sq.ft, which increased to Rs 2,700 per sq.ft in the 2023 revision, marking a 50% rise. The most recent revision in 2024 has further increased the value to Rs 2,970 per sq.ft, reflecting a 10% change from the previous year.

Overall, from the 2017 revision to the 2024 revision, the guideline value has increased by 65%. It is important to note that there are no figures available for the years 2002, 2003, 2007, and 2012 in the register for this street.

Guideline values in Agaramthen

Agaramthen village has a total of 125 streets under the Tambaram Joint 1 SRO, with guideline values ranging from Rs 440 to Rs 3,700 per sq.ft as of 2024. The median guideline value for the village is Rs 830 per sq.ft, placing Lakshmi Nagar Phase - III's current value above this median.

• Lakshmi Nagar Phase - II: Rs 2,970 per sq.ft (2024)
• Lakshmi Nagar Phase-4: Rs 2,970 per sq.ft (2024)
• Lakshmi Nagar: Rs 2,970 per sq.ft (2024)
• Leo Avenue: Rs 2,860 per sq.ft (2024)
• Kurunji Nagar 4th Street 1st And 5th Cross Street: Rs 440 per sq.ft (2024)
• Kurunji Nagar 4th Street: Rs 440 per sq.ft (2024)

Stamp duty and registration fee for property in Lakshmi Nagar Phase - III

For a 1,000 sq.ft plot at the current guideline value of Rs 2,970 per sq.ft, the total guideline value amounts to Rs 29,70,000. The stamp duty at 7% would be Rs 2,07,900, and the registration fee at 2% would be Rs 59,400, bringing the total to Rs 2,67,300. It is important to note that duty is charged on the higher of the guideline value and the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Lakshmi Nagar Phase - III?

The Sub Registrar Office that covers Lakshmi Nagar Phase - III is the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059, in the Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value is a crucial factor when registering property transactions in Agaramthen. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid at the time of registration.

When buying or selling property, the guideline value helps ensure that the transaction is recorded at a fair value, as it is used to calculate the necessary fees and taxes associated with the transfer of ownership.

Frequently asked questions

What is the current guideline value of Lakshmi Nagar Phase - III?

The current guideline value of Lakshmi Nagar Phase - III is Rs 2,970 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 1,800 per sq.ft in 2017 to Rs 2,700 per sq.ft in 2023, and then to Rs 2,970 per sq.ft in 2024. This represents a total increase of 65% from 2017 to 2024.

What are the other guideline values in Agaramthen?

Other streets in Agaramthen have varying guideline values, with rates ranging from Rs 440 to Rs 3,700 per sq.ft. The median value for the village is Rs 830 per sq.ft.

What fees are associated with buying property in Lakshmi Nagar Phase - III?

When purchasing property in Lakshmi Nagar Phase - III, buyers should expect to pay stamp duty at 7% and a registration fee at 2% of the guideline value. These fees are calculated based on the higher of the guideline value or the sale price.

Where can I find the Sub Registrar Office for Lakshmi Nagar Phase - III?

The Tambaram Joint 1 Sub Registrar Office covers Lakshmi Nagar Phase - III and is located at No.26, Mes Road, East Tambaram, Chennai-600059. You can find more information about your SRO online.