Guideline Value for Lakshmi Nagar

Lakshmi Nagar guideline value

The current guideline value of Lakshmi Nagar is Rs 1,200 per sq.ft, as per the 2023 revision. This area falls under Kilambakkam village and is governed by the Gooduvancheri SRO. The land classification for this locality 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 the 2007 revision, the value was set at Rs 1,000 per sq.ft, which increased to Rs 1,200 per sq.ft in the 2012 revision. However, in the 2017 revision, the value decreased to Rs 804 per sq.ft, marking a decline of 33%. The most recent revision in 2023 saw the guideline value rise significantly to Rs 1,200 per sq.ft, reflecting an increase of 49% from the previous revision.

Overall, from the 2007 revision to the 2023 revision, the guideline value has increased by 20%. It is important to note that there are no figures available for the revisions in 2002, 2003, and 2024 for this street.

Guideline values in Kilambakkam

Currently, there are no specific village figures available for Kilambakkam. The guideline value for Lakshmi Nagar is Rs 1,200 per sq.ft. There are no other streets in Kilambakkam under the Gooduvancheri SRO listed at this time.

Stamp duty and registration fee for property in Lakshmi Nagar

For a 1,000 sq.ft plot at the current rate of Rs 1,200 per sq.ft, the guideline value amounts to Rs 12,00,000. The stamp duty is charged at 7%, which totals Rs 84,000, and the registration fee is charged at 2%, amounting to Rs 24,000. Together, the total cost for these fees would be Rs 1,08,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. For more details, you can use our 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 Kilambakkam

The guideline value is a crucial factor in the registration process when buying or selling property in Kilambakkam. It serves as a benchmark for determining the stamp duty and registration fees that must be paid during the transaction. Buyers and sellers should be aware that these fees are calculated based on the guideline value or the sale price, whichever is higher.

Understanding the guideline value helps in ensuring compliance with legal requirements during property transactions. It is advisable for buyers and sellers to consult the guideline value register to stay informed about the current rates applicable to their property.

Frequently asked questions

What is the current guideline value of Lakshmi Nagar?

The current guideline value of Lakshmi Nagar is Rs 1,200 per sq.ft, as per the 2023 revision.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,000 per sq.ft in 2007 to Rs 1,200 per sq.ft in 2012, then decreased to Rs 804 per sq.ft in 2017, and finally increased back to Rs 1,200 per sq.ft in 2023.

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

For a property valued at Rs 12,00,000, the stamp duty at 7% is Rs 84,000 and the registration fee at 2% is Rs 24,000, totaling Rs 1,08,000.

Which Sub Registrar Office covers Lakshmi Nagar?

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

Are there other streets in Kilambakkam with guideline values?

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