Guideline Value for Lakshmi Nagar Phase - II

Lakshmi Nagar Phase - II guideline value

The current guideline value of Lakshmi Nagar Phase - II 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, classified as Mixed Special Type - I.

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

The guideline value for Lakshmi Nagar Phase - II has seen several revisions over the years. The register does not contain figures for the years 2002, 2003, 2007, 2012, and 2017. In the 2023 revision, the guideline value was Rs 2,700 per sq.ft, which increased to Rs 2,970 per sq.ft in the 2024 revision, marking a change of +10%.

Prior to the 2023 revision, there were no recorded figures for the aforementioned years. The most recent increase reflects the current valuation trends in the area.

Guideline values in Agaramthen

Agaramthen village has 125 streets under the Tambaram Joint 1 SRO, with guideline values ranging from Rs 440 to Rs 3,700 per sq.ft. The median guideline value for these streets is Rs 830 per sq.ft, placing Lakshmi Nagar Phase - II above this median.

• Lakshmi Nagar Phase-4: Rs 2,970 per sq.ft (2024)
• Lakshmi Nagar Phase - III: 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 - II

For a 1,000 sq.ft plot at the current rate of Rs 2,970 per sq.ft, the 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 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 accurate calculations.

Which Sub Registrar Office covers Lakshmi Nagar Phase - II?

The Lakshmi Nagar Phase - II property falls under 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 plays a crucial role in the registration process for property transactions in Agaramthen. It serves as a benchmark for determining the stamp duty and registration fees applicable when buying or selling property.

When a property is registered, the guideline value is used to calculate the necessary fees, ensuring that the transaction is documented according to the established rates by the Registration Department.

Frequently asked questions

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

The current guideline value of Lakshmi Nagar Phase - II 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 changed from Rs 2,700 per sq.ft in 2023 to Rs 2,970 per sq.ft in 2024, reflecting a 10% increase. The register does not contain figures for the years 2002, 2003, 2007, 2012, and 2017.

What are the other streets with similar guideline values in Agaramthen?

Other streets in Agaramthen with similar guideline values include Lakshmi Nagar Phase-4, Lakshmi Nagar Phase - III, and Lakshmi Nagar, all at Rs 2,970 per sq.ft for 2024.

How is stamp duty calculated for properties in Lakshmi Nagar Phase - II?

Stamp duty for properties in Lakshmi Nagar Phase - II is calculated based on the guideline value or the sale price, whichever is higher. For a 1,000 sq.ft plot, the total stamp duty and registration fees can amount to Rs 2,67,300.

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

The Sub Registrar Office covering Lakshmi Nagar Phase - II is the Tambaram Joint 1 SRO, located at No.26, Mes Road, East Tambaram, Chennai-600059. You can find more details online.