Guideline Value for Lakshmi Nagar

Lakshmi Nagar guideline value

The current guideline value of Lakshmi Nagar, located in Puthagaram village under the Ambattur SRO, is Rs 2,200 per sq.ft, effective from 1 July 2024. The land classification for this area is Residential Special Type - III.

How the guideline value of Lakshmi Nagar has changed

Looking at the revisions, the guideline value for Lakshmi Nagar was Rs 2,200 per sq.ft in 2012, which then changed to Rs 1,474 per sq.ft in 2017. This was a decrease of 33%. Subsequently, the value increased to Rs 2,200 per sq.ft in both the 2023 and 2024 revisions, showing a 49% increase from 2017 to 2023. There are no figures available for the years 2002, 2003, and 2007 for this street.

Overall, from the 2012 revision to the 2024 revision, the guideline value has remained at Rs 2,200 per sq.ft, indicating no overall change despite fluctuations in the intervening years.

Guideline values in Puthagaram

In Puthagaram village, there are 140 streets under the Ambattur SRO that carry a 2024 guideline value ranging from Rs 1,200 to Rs 3,800 per sq.ft. The median value for these streets is Rs 1,900 per sq.ft, placing Lakshmi Nagar's 2024 figure above that median.

• Lakshmi Amman Kovil Street: Rs 1,300 per sq.ft (2024)
• Lakshmanan Nagar: Rs 1,300 per sq.ft (2024)
• Lakshmi Nagar anex: Rs 2,200 per sq.ft (2024)
• Magathma ganthi Nagar: Rs 1,300 per sq.ft (2024)
• Krishna Nagar: Rs 1,400 per sq.ft (2024)
• Mathavan Nagar: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Lakshmi Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value amounts to Rs 22,00,000. The stamp duty at 7% would be Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, bringing the total charges to Rs 1,98,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use the stamp duty and registration fee calculator for more detailed calculations.

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 information.

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

The guideline value is a crucial factor in property transactions in Puthagaram as it determines the stamp duty and registration fees payable at the time of registration. Buyers and sellers must consider this value to ensure compliance with the legal requirements during property transactions.

When a property is sold, the guideline value is used to calculate the applicable fees, which can significantly impact the overall cost of the transaction. It is essential for both parties to be aware of the current guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Lakshmi Nagar?

The current guideline value of Lakshmi Nagar is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen several changes, with a notable increase from Rs 1,474 per sq.ft in 2017 to Rs 2,200 per sq.ft in 2023 and 2024. The value was Rs 2,200 per sq.ft in 2012, indicating fluctuations in the intervening years.

What is the land classification for Lakshmi Nagar?

The land classification for Lakshmi Nagar is Residential Special Type - III, which is relevant for determining the guideline value.

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

For a property valued at Rs 22,00,000, the stamp duty would be Rs 1,54,000 and the registration fee would be Rs 44,000, totaling Rs 1,98,000. These fees are based on the guideline value or the sale price, whichever is higher.

Which office handles registrations for Lakshmi Nagar?

The Ambattur Sub Registrar Office handles registrations for Lakshmi Nagar, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur - 600 053, Chennai registration zone.