Guideline Value for Lakshmi Nagar

Lakshmi Nagar guideline value

The current guideline value of Lakshmi Nagar, located in Atanancheri village under the Gooduvancheri SRO, is Rs 600 per sq.ft, effective from 1 July 2024. The land classification for this area is Residential Special Type - I.

How the guideline value of Lakshmi Nagar has changed

Over the years, the guideline value of Lakshmi Nagar has seen several revisions. In 2007, the guideline value was Rs 160 per sq.ft, which increased significantly to Rs 600 per sq.ft in 2012, marking a 275% increase. However, from 2012 to 2017, it decreased to Rs 402 per sq.ft, a drop of 33%. The value then rose to Rs 600 per sq.ft in 2023, remaining unchanged in the 2024 revision.

From 2017 to 2023, the guideline value increased by 49%, and overall, from 2007 to 2024, there has been a total increase of 275%. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Atanancheri

In Atanancheri, there are 83 streets under the Gooduvancheri SRO, with guideline values ranging from Rs 400 to Rs 2,500 per sq.ft. The median guideline value for these streets is Rs 700 per sq.ft, placing Lakshmi Nagar's 2024 figure below the median.

• Kumaran Nagar (Survey No.135/5): Rs 1,000 per sq.ft (2024)
• Mahalakshmi Nagar: Rs 800 per sq.ft (2024)
• K.M.R. Nagar: Rs 800 per sq.ft (2024)
• Mantharayalaya Nagar: Rs 600 per sq.ft (2024)
• Karumari Amman Nagar: Rs 500 per sq.ft (2024)
• Kannappa Nagar: 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 guideline value of Rs 600 per sq.ft, the total 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 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 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 Atanancheri

When buying or selling property in Atanancheri, the guideline value plays a crucial role in determining the applicable stamp duty and registration fees. The guideline value is used to assess the value of the property for registration purposes, ensuring that the transaction is documented accurately.

It is essential for buyers and sellers to be aware of the current guideline value, as it can affect the overall cost of the transaction. Accurate knowledge of the guideline value helps in making informed decisions during property transactions.

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 significantly, from Rs 160 per sq.ft in 2007 to Rs 600 per sq.ft in 2012, then to Rs 402 per sq.ft in 2017, and back to Rs 600 per sq.ft in 2023 and 2024.

What is the land classification for Lakshmi Nagar?

The land classification for Lakshmi Nagar is Residential Special Type - I.

Where can I find the Gooduvancheri Sub Registrar Office?

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

How are stamp duty and registration fees calculated in Lakshmi Nagar?

Stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at the guideline value of Rs 600 per sq.ft, the total guideline value is Rs 6,00,000, leading to specific fees based on that amount.