Guideline Value for Lakshmi Nagar

Lakshmi Nagar guideline value

The current guideline value of Lakshmi Nagar, located in Keerapakkam village under the Gooduvancheri SRO, is Rs 1,000 per sq.ft as per the 2023 revision. The land classification for this area is Commercial Class I Type - III.

How the guideline value of Lakshmi Nagar has changed

The guideline value for Lakshmi Nagar has undergone several revisions over the years. In the 2012 revision, the guideline value was set at Rs 1,000 per sq.ft. However, this figure remained unchanged until the 2017 revision, where it decreased to Rs 670 per sq.ft, marking a decline of 33%. The most recent revision in 2023 saw a significant increase to Rs 1,000 per sq.ft again, representing a 49% rise from the 2017 figure.

Overall, comparing the 2012 and 2023 revisions shows that the guideline value has remained stable, with no net change. It is important to note that the register has no figures for the years 2002, 2003, 2007, and 2024 for this street.

Guideline values in Keerapakkam

Currently, there are no specific village figures available for Keerapakkam. Lakshmi Nagar is part of the Gooduvancheri SRO, which oversees the registration for this area.

Stamp duty and registration fee for property in Lakshmi Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,000 per sq.ft, the total guideline value amounts to Rs 10,00,000. The stamp duty charged at 7% would be Rs 70,000, and the registration fee at 2% would be Rs 20,000, bringing the total fees to Rs 90,000. It is essential to note that duty is charged on the guideline value or the sale price, whichever is higher. 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, Guduvanchery-603202, Chengalpattu registration zone. You can find your SRO for more information.

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

When buying or selling property in Keerapakkam, the guideline value plays a crucial role in determining the registration fees and stamp duty. The stamp duty is calculated based on the higher value between the guideline value and the actual sale price of the property.

This ensures that all transactions are fairly assessed, and the government receives the appropriate revenue from property registrations. Buyers and sellers should be aware of the current guideline values to accurately estimate their costs during the transaction process.

Frequently asked questions

What is the current guideline value of Lakshmi Nagar?

The current guideline value of Lakshmi Nagar is Rs 1,000 per sq.ft as per the 2023 revision.

How has the guideline value changed over the years?

The guideline value changed from Rs 1,000 per sq.ft in 2012 to Rs 670 per sq.ft in 2017, and then back to Rs 1,000 per sq.ft in 2023. This represents a 49% increase from 2017 to 2023.

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

For a property valued at Rs 10,00,000, the stamp duty would be Rs 70,000 and the registration fee would be Rs 20,000, totaling Rs 90,000.

Which Sub Registrar Office covers Lakshmi Nagar?

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

Are there any other streets in Keerapakkam with guideline values?

Currently, there are no other streets in Keerapakkam listed with guideline values under the Gooduvancheri SRO.