Guideline Value for Lakshmi Nagar Phase 2

Lakshmi Nagar Phase 2 guideline value

The current guideline value of Lakshmi Nagar Phase 2 is Rs 350 per sq.ft, effective from 1 July 2024. This area is located in Amarampedu village under the Sriperumpudur SRO and is classified as Residential Special Type - I.

How the guideline value of Lakshmi Nagar Phase 2 has changed

The guideline value for Lakshmi Nagar Phase 2 has seen several revisions over the years. In 2007, the value was Rs 100 per sq.ft, which increased significantly to Rs 350 per sq.ft in 2012. However, in 2017, the value saw a decrease to Rs 234 per sq.ft, before rising again to Rs 350 per sq.ft in 2023. The 2024 revision maintains this rate, showing no change from the previous year.

Notably, there are no figures available for the years 2002 and 2003 for this street. Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 250%.

Guideline values in Amarampedu

In Amarampedu, there are 45 streets under the Sriperumpudur SRO that carry a 2024 guideline value ranging from Rs 100 to Rs 500 per sq.ft, with a median value of Rs 200 per sq.ft. The guideline value for Lakshmi Nagar Phase 2 is above this median.

• Lakshmi Nagar: Rs 350 per sq.ft (2024)
• Madha garden: Rs 200 per sq.ft (2024)
• Kundrathur Main Road: Rs 500 per sq.ft (2024)
• Mandapam Street: Rs 150 per sq.ft (2024)
• Manickapuri: Rs 100 per sq.ft (2024)
• Manickapuri Extn: Rs 100 per sq.ft (2024)

Stamp duty and registration fee for property in Lakshmi Nagar Phase 2

For a 1,000 sq.ft plot at the current guideline value of Rs 350 per sq.ft, the total guideline value amounts to Rs 3,50,000. The stamp duty at 7% would be Rs 24,500, and the registration fee at 2% would be Rs 7,000, leading to a total of Rs 31,500. 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 details.

Which Sub Registrar Office covers Lakshmi Nagar Phase 2?

The Sub Registrar Office that covers Lakshmi Nagar Phase 2 is the Sriperumpudur Sub Registrar Office, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role during the registration process of property transactions in Amarampedu. It is used to determine the stamp duty and registration fees that buyers must pay when purchasing property.

When you buy or sell property, the guideline value ensures that the transaction is recorded at a fair value, which is essential for legal and taxation purposes. This value helps maintain transparency in property dealings within the region.

Frequently asked questions

What is the current guideline value of Lakshmi Nagar Phase 2?

The current guideline value of Lakshmi Nagar Phase 2 is Rs 350 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed multiple times, starting from Rs 100 per sq.ft in 2007 to Rs 350 per sq.ft in 2012, then decreasing to Rs 234 per sq.ft in 2017, and returning to Rs 350 per sq.ft in 2023 and 2024.

What is the median guideline value in Amarampedu?

The median guideline value in Amarampedu is Rs 200 per sq.ft, with Lakshmi Nagar Phase 2's value being above this median at Rs 350 per sq.ft.

What are the stamp duty rates in Lakshmi Nagar Phase 2?

The stamp duty rate in Lakshmi Nagar Phase 2 is 7% of the guideline value or sale price, whichever is higher.

Where can I find the Sub Registrar Office for Lakshmi Nagar Phase 2?

The Sub Registrar Office for Lakshmi Nagar Phase 2 is located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone.