Guideline Value for Lakshmi Nagar

Lakshmi Nagar guideline value

The current guideline value of Lakshmi Nagar, located in Nattarasampattu village under the Gooduvancheri SRO, is Rs 350 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

Looking at the revisions over the years, the guideline value for Lakshmi Nagar has seen several changes. In 2007, the value was Rs 50 per sq.ft, which increased significantly to Rs 350 per sq.ft in 2012. However, it dropped to Rs 234 per sq.ft in 2017 before remaining stable at Rs 350 per sq.ft in both the 2023 and 2024 revisions. The register has no figures for the years 2002 and 2003 for this street.

From 2017 to 2023, there was a 50% increase, while the change from 2012 to 2017 was a decrease of 33%. The most notable change was from 2007 to 2012, which saw a remarkable increase of 600%. Overall, from 2007 to 2024, the guideline value has increased by 600%.

Guideline values in Nattarasampattu

Nattarasampattu village has 24 streets under the Gooduvancheri SRO that carry a 2024 guideline value ranging from Rs 250 to Rs 700 per sq.ft, with the median value being Rs 350 per sq.ft. Lakshmi Nagar's current value aligns perfectly with this median.

• Mahalakshmi Nagar: Rs 350 per sq.ft (2024)
• Jupiter Nagar: Rs 500 per sq.ft (2024)
• Jupiter Homes: Rs 500 per sq.ft (2024)
• Jayam Malar Nagar Phase-I: Rs 350 per sq.ft (2024)
• Golden Rain Avenue Phase-IX: Rs 500 per sq.ft (2024)
• Golden Rain Avenue Phase (I-VIII): Rs 500 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 350 per sq.ft, the total guideline value would be Rs 3,50,000. The stamp duty at 7% would amount to Rs 24,500, while the registration fee at 2% would be Rs 7,000, totaling Rs 31,500. 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 Nattarasampattu

The guideline value plays a crucial role during property transactions in Nattarasampattu. It is used to determine the stamp duty and registration fees that need to be paid at the time of registration. Buyers and sellers must consider this value to ensure compliance with local regulations.

When a property is sold, the guideline value helps establish the minimum price at which the property can be registered. This ensures that the government receives appropriate revenue from property transactions, reflecting the market conditions of the area.

Frequently asked questions

What is the current guideline value of Lakshmi Nagar?

The current guideline value of Lakshmi Nagar is Rs 350 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed several times, starting from Rs 50 per sq.ft in 2007 to Rs 350 per sq.ft in 2012, dropping to Rs 234 per sq.ft in 2017, and stabilizing at Rs 350 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 is the Sub Registrar Office for Lakshmi Nagar located?

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

How is the stamp duty calculated for properties in Lakshmi Nagar?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at Rs 350 per sq.ft, the total guideline value would be Rs 3,50,000, leading to a stamp duty of Rs 24,500.