Guideline Value for Lakshmi Nagar

Lakshmi Nagar guideline value

The current guideline value of Lakshmi Nagar in Ayyencheri village is Rs 1,500 per sq.ft, as per the 2023 revision. This area falls under the Gooduvancheri SRO and is classified as Residential Special Type - II.

How the guideline value of Lakshmi Nagar has changed

Over the years, the guideline value of Lakshmi Nagar has undergone several revisions. The 2007 revision set the value at Rs 370 per sq.ft, which increased significantly to Rs 1,500 per sq.ft in the 2012 revision. However, in the 2017 revision, the value dropped to Rs 1,005 per sq.ft. The most recent 2023 revision restored the value to Rs 1,500 per sq.ft.

From 2017 to 2023, there was a 49% increase in the guideline value. The change from 2012 to 2017 saw a decrease of 33%, while the jump from 2007 to 2012 was a substantial 305%. Overall, from 2007 to 2023, the guideline value has increased by 305%.

Guideline values in Ayyencheri

Currently, there are no specific village figures available for Ayyencheri. Lakshmi Nagar is one of the streets under the Gooduvancheri SRO. Unfortunately, there are no other streets in Ayyencheri listed with guideline values.

Stamp duty and registration fee for property in Lakshmi Nagar

For a 1,000 sq.ft plot at the current rate of Rs 1,500 per sq.ft, the guideline value amounts to Rs 15,00,000. The stamp duty at 7% would be Rs 1,05,000, while the registration fee at 2% would be Rs 30,000. Together, the total cost for stamp duty and registration would be Rs 1,35,000. 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 Lakshmi Nagar area is covered by 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 further assistance.

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

The guideline value is a crucial factor during property transactions in Ayyencheri, as it helps determine the stamp duty and registration fees applicable on the property. When a property is bought or sold, the guideline value serves as a benchmark for calculating these fees.

It is essential for buyers and sellers to be aware of the current guideline value, as it directly impacts the overall cost of the transaction. Ensuring that the property is registered at the correct guideline value helps in maintaining transparency and legality in property dealings.

Frequently asked questions

What is the current guideline value of Lakshmi Nagar?

The current guideline value of Lakshmi Nagar is Rs 1,500 per sq.ft, as per the 2023 revision.

How has the guideline value changed over the years?

Since 2007, the guideline value has increased from Rs 370 per sq.ft to Rs 1,500 per sq.ft in 2012, then decreased to Rs 1,005 per sq.ft in 2017, and finally restored to Rs 1,500 per sq.ft in 2023.

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

The stamp duty is 7% of the guideline value, while the registration fee is 2%. For example, for a 1,000 sq.ft plot at Rs 1,500 per sq.ft, the total fees would be Rs 1,35,000.

Which office handles the registration for Lakshmi Nagar?

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

How is the guideline value determined?

The guideline value is determined by the Registration Department's guideline value register. It is revised periodically to reflect changes in property values in the area.