Guideline Value for Lakshmi Nagar

Lakshmi Nagar guideline value

The current guideline value of Lakshmi Nagar is Rs 880 per sq.ft, effective from 1 July 2024. This area is part of Ist Division village under the Kanchipuram Joint IV SRO, classified as Residential Class II Type - I.

How the guideline value of Lakshmi Nagar has changed

Over the years, the guideline value of Lakshmi Nagar has seen several revisions. The 2012 revision set the value at Rs 800 per sq.ft, which was then reduced to Rs 536 per sq.ft in the 2017 revision. Following this, the 2023 revision increased the value to Rs 800 per sq.ft, and the most recent 2024 revision raised it to Rs 880 per sq.ft, marking a 10% increase from the previous year.

From 2012 to 2024, the overall change in guideline value is +10%. The 2017 revision saw a significant increase of 49% from the 2012 figure, while the change from 2012 to 2017 was a decrease of 33%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Ist Division

In the Ist Division under the Kanchipuram Joint IV SRO, there are 79 streets with a 2024 guideline value ranging from Rs 800 to Rs 3,300 per sq.ft, with the median value being Rs 880 per sq.ft. The guideline value of Lakshmi Nagar aligns with this median.

• Kumaran Nagar: Rs 880 per sq.ft (2024)
• Krishnasamy Street: Rs 880 per sq.ft (2024)
• Makaliyamman Koil Street: Rs 880 per sq.ft (2024)
• Malaiyala Street: Rs 1,650 per sq.ft (2024)
• Kosa Street @ ThiruNeelakandar Street: Rs 800 per sq.ft (2024)
• K.M.V.Nagar: Rs 880 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 880 per sq.ft, the total guideline value would be Rs 8,80,000. The stamp duty at 7% would amount to Rs 61,600, and the registration fee at 2% would be Rs 17,600, bringing the total cost for these fees to Rs 79,200. It is important to note that duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Lakshmi Nagar?

The Kanchipuram Joint IV Sub Registrar Office covers Lakshmi Nagar. The office is located at Kamarajar Road, Taluk Office Campus, Kanchipuram-631 501, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Ist Division. It determines the minimum value at which a property can be registered, ensuring that the transaction is documented at a fair value.

When registering a property, the stamp duty and registration fees are calculated 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 880 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value of Lakshmi Nagar has changed from Rs 800 per sq.ft in 2012 to Rs 536 per sq.ft in 2017, then back to Rs 800 per sq.ft in 2023, and finally to Rs 880 per sq.ft in 2024.

What are the other streets in Ist Division with similar guideline values?

Other streets in Ist Division with a guideline value of Rs 880 per sq.ft include Kumaran Nagar, Krishnasamy Street, and Makaliyamman Koil Street. Malaiyala Street has a higher value of Rs 1,650 per sq.ft.

What fees are involved in the registration process?

In the registration process, the stamp duty is charged at 7% of the guideline value, and the registration fee is charged at 2%. These fees are calculated based on the higher of the guideline value or the sale price.

Where can I find the Sub Registrar Office for Lakshmi Nagar?

The Sub Registrar Office covering Lakshmi Nagar is the Kanchipuram Joint IV Sub Registrar Office, located at Kamarajar Road, Taluk Office Campus, Kanchipuram-631 501, Chengalpattu registration zone.