Guideline Value

Corporate

Guideline Value for Lakshmi Nagar

₹440/sq.ft.

The guideline value for Lakshmi Nagar in Pothur village (Redhills SRO, Chennai zone) is Rs 440 per sq.ft, effective 1 July 2024. It was Rs 400 per sq.ft from 1 April 2023, a 10% change. The land classification is Residential Class Ii Type - I. Source: TNReginet guideline value register.

Last updated:

Chennai

Zone

Pothur

Village

Redhills

SRO

Residential Class II Type - I
History
Period Guideline Value
From 1-7-2024 ₹440 /sq.ft.
From 1-4-2023 ₹400 /sq.ft.
From 9-6-2017 To 31-3-2023 ₹268 /sq.ft.
From 1-4-2012 To 8-6-2017 ₹400 /sq.ft.
From 1-8-2007 To 31-3-2012 ₹200 /sq.ft.
From 1-4-2003 To 31-7-2007 ₹20 /sq.ft.
From 1-4-2002 To 31-3-2003 ₹190 /sq.ft.
Guideline Value Timeline
Guideline Value Comparison

SRO (Sub Registrar Office)

Sub Registrar Office, Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.
044-29570109
[email protected]

DRO (District Registrar Office)

District Registrar Office Jvc Complex Near Icmr Vedingallur Thiruvallur -631203
044-27661230
[email protected], [email protected]

DIG (Deputy Inspector General)

Integrated Building For Offices Of The Commercial Taxes And Registration, Department Fanepet, Nandanam, Chennai - 600 035.
044-29510527
[email protected]

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Lakshmi Nagar guideline value

The current guideline value of Lakshmi Nagar, located in Pothur village under the Redhills SRO, is Rs 440 per sq.ft, effective from 1 July 2024. This area falls under the Residential Class II Type - I land classification.

How the guideline value of Lakshmi Nagar has changed

The guideline value for Lakshmi Nagar has seen several revisions over the years. The earliest recorded figure is from 2002, which was Rs 190 per sq.ft. This increased to Rs 20 per sq.ft in 2003, followed by a significant rise to Rs 200 per sq.ft in 2007. The value then went up to Rs 400 per sq.ft in 2012, before dropping to Rs 268 per sq.ft in 2017. The 2023 revision set the figure at Rs 400 per sq.ft, and the most recent revision in 2024 has raised it to Rs 440 per sq.ft.

In terms of percentage changes, the guideline value increased by 10% from 2023 to 2024. From 2017 to 2023, it rose by 49%. However, there was a decrease of 33% from 2012 to 2017. The value doubled from 2007 to 2012, with a remarkable increase of 900% from 2003 to 2007. Overall, from 2002 to 2024, the guideline value has increased by 132%.

Guideline values in Pothur

In Pothur village, there are 98 streets under the Redhills SRO that carry a 2024 guideline value ranging from Rs 330 to Rs 2,000 per sq.ft, with a median value of Rs 550 per sq.ft. The guideline value for Lakshmi Nagar is below this median.

Stamp duty and registration fee for property in Lakshmi Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 440 per sq.ft, the total guideline value amounts to Rs 4,40,000. The stamp duty at 7% would be Rs 30,800, and the registration fee at 2% would be Rs 8,800, totaling Rs 39,600. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Lakshmi Nagar?

The Sub Registrar Office that covers Lakshmi Nagar is the Redhills Sub Registrar Office, located at Sub Registrar Office, Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052. You can find your SRO for more information.

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

The guideline value plays a crucial role during property registration in Pothur. It is used to determine the stamp duty and registration fees that are applicable when a property is bought or sold. Buyers and sellers must be aware of the current guideline value to ensure compliance with local regulations.

When registering a property, the guideline value is compared with the sale price, and the higher amount is used to calculate the applicable duties. This ensures that the government receives the appropriate revenue based on the value of the transaction.

Frequently asked questions

What is the current guideline value of Lakshmi Nagar?

The current guideline value of Lakshmi Nagar is Rs 440 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 190 per sq.ft in 2002 to Rs 440 per sq.ft in 2024, reflecting a significant increase over the years.

What is the registration fee for property in Lakshmi Nagar?

The registration fee is calculated at 2% of the guideline value. For a plot valued at Rs 4,40,000, the registration fee would be Rs 8,800.

Where is the Sub Registrar Office for Lakshmi Nagar located?

The Redhills Sub Registrar Office is located at Sub Registrar Office, Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.

What are the other streets in Pothur with guideline values?

Other streets in Pothur include Lakshmi Nagar Extension, Lake View Garden, K.S.P Nagar, Kirubai Nagar, K.C.R . Nagar, and Mathuvacharya Nagar, with varying guideline values.