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 is located in Urapakkam village, under the Gooduvancheri SRO, and is classified as Residential Special Type - I.

How the guideline value of Lakshmi Nagar has changed

The guideline value of Lakshmi Nagar has undergone several revisions over the years. In 2007, the guideline value was Rs 733 per sq.ft, which increased to Rs 1,200 per sq.ft in 2012. However, in 2017, it decreased to Rs 804 per sq.ft. The most recent revision in 2023 saw a significant increase to Rs 1,200 per sq.ft again.

Between the 2017 and 2023 revisions, there was an increase of 49%. From 2012 to 2017, the guideline value decreased by 33%, while from 2007 to 2012, it increased by 64%. Overall, from 2007 to 2023, the guideline value has increased by 64%.

Guideline values in Urapakkam

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

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 at 7% would be Rs 84,000, and the registration fee at 2% would be Rs 24,000, totaling Rs 1,08,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can use our 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 Urapakkam

When buying or selling property in Urapakkam, the guideline value is used to determine the stamp duty and registration fees. This value is crucial as it serves as a benchmark for the transaction, ensuring that the fees are calculated accurately.

At the time of registration, the buyer must pay the stamp duty based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions.

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 733 per sq.ft in 2007 to Rs 1,200 per sq.ft in 2012, decreased to Rs 804 per sq.ft in 2017, and returned to Rs 1,200 per sq.ft in 2023.

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

For a 1,000 sq.ft property at the current guideline value, the total stamp duty and registration fees would amount to 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 Urapakkam listed under the Gooduvancheri SRO?

Currently, there are no other streets in Urapakkam listed under the Gooduvancheri SRO.