Guideline Value for Lakshmi Nagar

Lakshmi Nagar guideline value

The current guideline value of Lakshmi Nagar is Rs 1,000 per sq.ft. This area falls under Ponmar village, governed by the Gooduvancheri SRO. The land classification for this locality is Residential Special Type - II.

How the guideline value of Lakshmi Nagar has changed

The guideline value for Lakshmi Nagar has experienced several revisions over the years. In 2007, the value was Rs 100 per sq.ft, which saw a significant increase to Rs 1,000 per sq.ft in 2012, marking a rise of 900%. However, from 2012 to 2017, the value decreased to Rs 670 per sq.ft, a drop of 33%. The most recent revision in 2023 set the guideline value back to Rs 1,000 per sq.ft, reflecting a 49% increase from the 2017 figure.

Overall, from 2007 to 2023, the guideline value has increased by 900%. Notably, there are no figures available for the revisions in 2002, 2003, and 2024 for this street.

Guideline values in Ponmar

Currently, there are no specific guideline values available for other streets in Ponmar under the Gooduvancheri SRO. Lakshmi Nagar is the only street mentioned in this context.

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 would be Rs 10,00,000. The stamp duty at 7% would amount to Rs 70,000, and the registration fee at 2% would be Rs 20,000. Together, the total cost for stamp duty and registration fee would be Rs 90,000. 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 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, 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 Ponmar

The guideline value plays a crucial role in the registration process when buying or selling property in Ponmar. It serves as a benchmark for calculating the stamp duty and registration fees, which are mandatory during the property transaction.

When a property is registered, the guideline value is compared with the sale price, and the higher amount is used to determine the applicable fees. This ensures that the government receives the appropriate revenue from property transactions in the area.

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 has changed significantly from Rs 100 per sq.ft in 2007 to Rs 1,000 per sq.ft in 2012, then decreased to Rs 670 per sq.ft in 2017, and returned to Rs 1,000 per sq.ft in 2023.

What is the stamp duty rate for property in Lakshmi Nagar?

The stamp duty rate for property in Lakshmi Nagar is 7% of the guideline value or the sale price, whichever is higher.

Where is the Gooduvancheri Sub Registrar Office located?

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

Is there a guideline value for other streets in Ponmar?

Currently, there are no specific guideline values available for other streets in Ponmar under the Gooduvancheri SRO. Lakshmi Nagar is the only street mentioned.