Guideline Value for Lakshmi Nagar

Lakshmi Nagar guideline value

The current guideline value of Lakshmi Nagar, located in Madanandapuram village under the Kunrathur SRO, is Rs 3,520 per sq.ft. This value has been set following the 2024 revision, effective from 1 July 2024. The land classification for this area is Residential Special Type - II.

How the guideline value of Lakshmi Nagar has changed

Over the years, the guideline value of Lakshmi Nagar has seen significant changes. The 2007 revision set the value at Rs 600 per sq.ft, which rose dramatically to Rs 3,200 per sq.ft in 2012, marking an increase of 433%. However, from 2012 to 2017, the value decreased to Rs 2,144 per sq.ft, a decline of 33%. The value then increased to Rs 3,200 per sq.ft in 2023, reflecting a 49% rise. The most recent revision in 2024 has set the guideline value at Rs 3,520 per sq.ft, representing a 10% increase from the previous year.

The register has no figures for the years 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 487%.

Guideline values in Madanandapuram

Madanandapuram village features 94 streets under the Kunrathur SRO, with the 2024 guideline values ranging from Rs 2,530 to Rs 5,830 per sq.ft. The median value is Rs 3,520 per sq.ft, which matches the current guideline value of Lakshmi Nagar.

• Lakshmi Garden: Rs 3,520 per sq.ft (2024)
• Lakshmi Avenue: Rs 3,520 per sq.ft (2024)
• Kunrathur Main Road: Rs 5,830 per sq.ft (2024)
• Lalitha Nagar: Rs 3,520 per sq.ft (2024)
• Kumari Nagar: Rs 3,520 per sq.ft (2024)
• Madha Nagar: Rs 3,960 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 3,520 per sq.ft, the total guideline value amounts to Rs 35,20,000. The stamp duty at 7% would be Rs 2,46,400, and the registration fee at 2% would be Rs 70,400, totaling Rs 3,16,800. 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 further calculations.

Which Sub Registrar Office covers Lakshmi Nagar?

The Sub Registrar Office covering Lakshmi Nagar is the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration of property transactions in Madanandapuram. It serves as a benchmark for determining the minimum value at which a property can be registered. Buyers and sellers must consider this value to ensure compliance with registration regulations.

When a property is sold, the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Lakshmi Nagar?

The current guideline value of Lakshmi Nagar is Rs 3,520 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 600 per sq.ft in 2007 to Rs 3,520 per sq.ft in 2024, marking an overall increase of 487%.

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

For a 1,000 sq.ft property, the total guideline value is Rs 35,20,000. The stamp duty would be Rs 2,46,400, and the registration fee would be Rs 70,400, totaling Rs 3,16,800.

Which office handles property registrations for Lakshmi Nagar?

The Kunrathur Sub Registrar Office handles property registrations for Lakshmi Nagar, located at No.59, Road Street, Kundrathur, Chennai -600 069.

What is the land classification for Lakshmi Nagar?

The land classification for Lakshmi Nagar is Residential Special Type - II, indicating its intended use for residential purposes.