Guideline Value for Lakshmi Nagar

Lakshmi Nagar guideline value

The current guideline value of Lakshmi Nagar, located in Karanaipuducheri village, is Rs 701 per sq.ft as per the 2024 revision, effective from 1 July 2024. This area falls under the Gooduvancheri SRO and is classified as Residential Special Type - II.

How the guideline value of Lakshmi Nagar has changed

The guideline value for Lakshmi Nagar has seen several revisions over the years. In 2007, the value was Rs 200 per sq.ft, which increased significantly to Rs 700 per sq.ft in 2012, marking a 250% rise. However, the value dropped to Rs 469 per sq.ft in 2017, reflecting a decrease of 33%. The 2023 revision recorded a slight increase to Rs 700 per sq.ft, and in the latest 2024 revision, the value has been set at Rs 701 per sq.ft, which shows no percentage change from the previous year.

It is important to note that there are no recorded figures for Lakshmi Nagar in the revisions of 2002 and 2003. Overall, from 2007 to 2024, the guideline value has increased by 251%.

Guideline values in Karanaipuducheri

In Karanaipuducheri, there are 108 streets under the Gooduvancheri SRO that carry a 2024 guideline value ranging from Rs 400 to Rs 2,239 per sq.ft, with a median value of Rs 802 per sq.ft. The guideline value of Lakshmi Nagar is below this median.

• Lakshmi Ganapathy Nagar: Rs 1,200 per sq.ft (2024)
• Lalitha Nagar: Rs 800 per sq.ft (2024)
• Lingam Nagar: Rs 800 per sq.ft (2024)
• Lingam Nagar Extn: Rs 800 per sq.ft (2024)
• Mahalakshmi Nagar: Rs 800 per sq.ft (2024)
• Mahalakshmi Nagar Extn: 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 701 per sq.ft, the total guideline value amounts to Rs 7,01,000. The stamp duty at 7% would be Rs 49,070, and the registration fee at 2% would be Rs 14,020, bringing the total charges to Rs 63,090. Please 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 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 Karanaipuducheri

The guideline value is a crucial factor in property transactions in Karanaipuducheri. It serves as a benchmark for determining the minimum value at which a property can be registered. Buyers and sellers must adhere to this value to ensure compliance with local regulations during the registration process.

When a property is sold, the guideline value helps in calculating the applicable stamp duty and registration fees, which are essential costs in the transaction. Ensuring that the sale price is not below the guideline value is necessary to avoid legal complications.

Frequently asked questions

What is the current guideline value of Lakshmi Nagar?

The current guideline value of Lakshmi Nagar is Rs 701 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 200 per sq.ft in 2007 to Rs 701 per sq.ft in 2024, reflecting an overall increase of 251% over the years.

What is the median guideline value in Karanaipuducheri?

The median guideline value in Karanaipuducheri is Rs 802 per sq.ft, with Lakshmi Nagar's value being below this median.

What are the registration charges for a property in Lakshmi Nagar?

The registration charges for a property in Lakshmi Nagar include a stamp duty of 7% and a registration fee of 2%, based on the guideline value or sale price, whichever is higher.

Where is the Sub Registrar Office for Lakshmi Nagar located?

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