Guideline Value for Lakshmi Nagar

Lakshmi Nagar guideline value

The current guideline value of Lakshmi Nagar in Arambakkam village is Rs 600 per sq.ft, effective from 1 July 2024. This area falls under the Gooduvancheri SRO and is classified as Residential Special Type - I.

How the guideline value of Lakshmi Nagar has changed

Over the years, the guideline value for Lakshmi Nagar has seen several revisions. The 2007 revision set the value at Rs 160 per sq.ft, which increased significantly to Rs 600 per sq.ft in 2012. However, it dropped to Rs 402 per sq.ft in 2017 before stabilizing at Rs 600 per sq.ft in both the 2023 and 2024 revisions, showing no change between these two years.

From 2017 to 2023, the guideline value increased by 49%. The jump from 2007 to 2012 was a notable 275%, while the decline from 2012 to 2017 was 33%. Overall, from 2007 to 2024, the guideline value has increased by 275%. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Arambakkam

In Arambakkam, there are 33 streets under the Gooduvancheri SRO that carry a 2024 guideline value ranging from Rs 400 to Rs 800 per sq.ft, with the median value being Rs 600 per sq.ft. Lakshmi Nagar's 2024 figure is equal to this median.

• Madha Kovil Theru: Rs 800 per sq.ft (2024)
• Karpaga Vinayagar Nagar: Rs 600 per sq.ft (2024)
• Kambar Avenue: Rs 600 per sq.ft (2024)
• Ganapathipuram: Rs 800 per sq.ft (2024)
• Dr. Radhakrishnan Nagar: Rs 600 per sq.ft (2024)
• Dr. Radha Krishnan Extension: Rs 800 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 600 per sq.ft, the guideline value amounts to Rs 6,00,000. The stamp duty at 7% would be Rs 42,000, and the registration fee at 2% would be Rs 12,000, totaling Rs 54,000. It is important to note that duty is charged on the higher of the guideline value and the sale price. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Lakshmi Nagar?

The Sub Registrar Office that covers Lakshmi Nagar is the Gooduvancheri Sub Registrar Office, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvancheri-603202, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process of property transactions in Arambakkam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government collects the appropriate stamp duty and registration fees.

When buying or selling property, the guideline value helps in assessing the transaction's legitimacy. It is essential for both buyers and sellers to be aware of the current guideline value to avoid 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 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 160 per sq.ft in 2007 to Rs 600 per sq.ft in 2012, then dropped to Rs 402 per sq.ft in 2017, and remained at Rs 600 per sq.ft in 2023 and 2024.

What is the registration office for Lakshmi Nagar?

The registration office for Lakshmi Nagar is the Gooduvancheri Sub Registrar Office, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvancheri-603202, Chengalpattu registration zone.

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

The stamp duty is 7% of the guideline value, and the registration fee is 2%. For a property valued at Rs 6,00,000, the total fees would be Rs 54,000.

How is the guideline value determined for properties in Arambakkam?

The guideline value for properties in Arambakkam is determined based on various factors and is revised periodically. The current values range from Rs 400 to Rs 800 per sq.ft, with the median being Rs 600 per sq.ft.