Guideline Value for Lakshmi Nagar

Lakshmi Nagar guideline value

The current guideline value of Lakshmi Nagar, located in Vandalur village under the Gooduvancheri SRO, is Rs 1,500 per sq.ft as per the 2023 revision. The land classification for this area is Residential Special Type - I.

How the guideline value of Lakshmi Nagar has changed

The guideline value for Lakshmi Nagar has undergone several revisions over the years. In the 2007 revision, the guideline value was Rs 550 per sq.ft. This increased significantly to Rs 1,500 per sq.ft in the 2012 revision, marking a rise of 173%. However, in the 2017 revision, the value decreased to Rs 1,005 per sq.ft, a drop of 33%. The most recent revision in 2023 saw the guideline value return to Rs 1,500 per sq.ft, representing a 49% increase from the 2017 figure.

Overall, from the 2007 revision to the 2023 revision, the guideline value has increased by 173%. 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 Vandalur

Currently, the guideline value for Lakshmi Nagar stands at Rs 1,500 per sq.ft. Unfortunately, no specific village figures are provided. Other streets in Vandalur under the Gooduvancheri SRO have not been detailed.

Stamp duty and registration fee for property in Lakshmi Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,500 per sq.ft, the total guideline value would be Rs 15,00,000. The stamp duty, charged at 7%, would amount to Rs 1,05,000, while the registration fee at 2% would be Rs 30,000. Together, these fees total Rs 1,35,000. It is essential to note that the duty is charged on the higher of the guideline value or the sale price. You can use our stamp duty and registration fee calculator for more accurate estimates.

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. To find your specific SRO, you can visit find your SRO.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Vandalur. It serves as a benchmark for calculating the stamp duty and registration fees, ensuring that these fees are based on a standardized value rather than the negotiated sale price.

When registering a property, the buyer must pay the stamp duty and registration fees based on the guideline value or the sale price, whichever is higher. This process helps maintain transparency and consistency in property transactions.

Frequently asked questions

What is the current guideline value of Lakshmi Nagar?

The current guideline value of Lakshmi Nagar is Rs 1,500 per sq.ft, as per the 2023 revision.

How has the guideline value changed over the years?

The guideline value has changed from Rs 550 per sq.ft in 2007 to Rs 1,500 per sq.ft in 2012, then decreased to Rs 1,005 per sq.ft in 2017, and finally returned to Rs 1,500 per sq.ft in 2023.

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

For a property valued at Rs 15,00,000, the stamp duty would be Rs 1,05,000 and the registration fee would be Rs 30,000, totaling Rs 1,35,000.

Which office handles registrations for Lakshmi Nagar?

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

Are there other streets in Vandalur with guideline values?

No specific figures for other streets in Vandalur are provided, and the guideline value for Lakshmi Nagar is the only one mentioned.