Guideline Value for Lakshmi Nagar

Lakshmi Nagar guideline value

The current guideline value for Lakshmi Nagar in Ayappakkam village, under the Ambattur SRO, is Rs 1,600 per sq.ft, effective from 1 July 2024. This area is classified as Residential Special Type - III.

How the guideline value of Lakshmi Nagar has changed

Over the years, the guideline value of Lakshmi Nagar has seen several revisions. The 2012 revision set the value at Rs 1,500 per sq.ft, which was a decrease of 33% from the 2017 revision of Rs 1,005 per sq.ft. The subsequent revision in 2023 increased the value to Rs 1,500 per sq.ft, and the latest revision in 2024 raised it further to Rs 1,600 per sq.ft, marking a 7% increase from the previous year.

From 2012 to 2024, the overall change in guideline value is a modest increase of 7%. Notably, there are no figures available for the years 2002, 2003, and 2007 for this street.

Guideline values in Ayappakkam

In Ayappakkam, there are 221 streets under the Ambattur SRO that carry a 2024 guideline value ranging from Rs 550 to Rs 4,000 per sq.ft, with a median value of Rs 1,300 per sq.ft. Lakshmi Nagar's 2024 guideline value of Rs 1,600 per sq.ft is above this median.

• Lakshmi street(maruthiram nagar): Rs 1,100 per sq.ft (2024)
• Kumaran street(Iyappan nagar): Rs 1,700 per sq.ft (2024)
• Lotus Avenue: Rs 1,700 per sq.ft (2024)
• Lotus Avenue Phase -II: Rs 3,300 per sq.ft (2024)
• Kulakkarai street: Rs 880 per sq.ft (2024)
• Mahalakshmi street(Bhavani nagar): Rs 1,600 per sq.ft (2024)

Stamp duty and registration fee for property in Lakshmi Nagar

For a 1,000 sq.ft plot at the current rate of Rs 1,600 per sq.ft, the guideline value would be Rs 16,00,000. The stamp duty at 7% would amount to Rs 1,12,000, and the registration fee at 2% would be Rs 32,000, totaling Rs 1,44,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Lakshmi Nagar?

The Sub Registrar Office that covers Lakshmi Nagar is the Ambattur Sub Registrar Office, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone. You can find your SRO for more details.

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

The guideline value is a crucial factor in property transactions in Ayappakkam. It determines the minimum value at which a property can be registered and is used to calculate the stamp duty and registration fees applicable during the sale.

When buying or selling property, it is essential to be aware of the guideline value as it impacts the overall cost of the transaction. The registration process will require adherence to these values to ensure compliance with local regulations.

Frequently asked questions

What is the current guideline value of Lakshmi Nagar?

The current guideline value of Lakshmi Nagar is Rs 1,600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,500 per sq.ft in 2023 to Rs 1,600 per sq.ft in 2024, an increase of 7%. It was Rs 1,005 per sq.ft in 2017 and Rs 1,500 per sq.ft in 2012.

What is the land classification of Lakshmi Nagar?

Lakshmi Nagar is classified as Residential Special Type - III according to the local land classification regulations.

What are the stamp duty and registration fees for property in Lakshmi Nagar?

The stamp duty is charged at 7% of the guideline value, and the registration fee is 2%. For a plot of 1,000 sq.ft, the total fees would be Rs 1,44,000 based on the current guideline value.

Where is the Sub Registrar Office for Lakshmi Nagar located?

The Ambattur Sub Registrar Office is located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone.