Guideline Value for Lakshmi Nagar

Lakshmi Nagar guideline value

The current guideline value of Lakshmi Nagar, located in Anakaputhur village under the Pammal SRO, is Rs 1,980 per sq.ft, effective from 1 July 2024. This area falls under the Residential Class I Type - I land classification.

How the guideline value of Lakshmi Nagar has changed

Over the years, the guideline value of Lakshmi Nagar has seen significant revisions. The 2003 revision set the value at Rs 183 per sq.ft, which increased to Rs 425 per sq.ft in 2007. Following that, the value experienced a substantial rise to Rs 1,206 per sq.ft in 2017, marking an increase of 184% from the previous revision. The 2023 revision saw the guideline value reach Rs 1,800 per sq.ft, reflecting a 49% increase from 2017. The most recent revision in 2024 has set the guideline value at Rs 1,980 per sq.ft, a 10% increase from the previous year.

It is important to note that the register has no figures for the years 2002 and 2012 for this street. Overall, from 2003 to 2024, the guideline value has increased by 982%.

Guideline values in Anakaputhur

In Anakaputhur, there are 501 streets under the Pammal SRO that carry a 2024 guideline value, ranging from Rs 1,320 to Rs 4,640 per sq.ft. The median guideline value for these streets is Rs 1,980 per sq.ft, which is equal to the guideline value of Lakshmi Nagar.

• Labour School Street Ivth Cross Street: Rs 2,350 per sq.ft (2024)
• Labour School Street Ist Cross: Rs 2,350 per sq.ft (2024)
• Labour School Street II nd Cross: Rs 2,350 per sq.ft (2024)
• Labour School Street IIIrd Cross Street: Rs 2,350 per sq.ft (2024)
• Labour School Street: Rs 2,350 per sq.ft (2024)
• Kutty Nadar Street: Rs 1,760 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 1,980 per sq.ft, the total guideline value amounts to Rs 19,80,000. The stamp duty at 7% would be Rs 1,38,600, and the registration fee at 2% would be Rs 39,600, bringing the total fees together to Rs 1,78,200. Please note that the duty is charged on the higher of the guideline value or the sale price.

For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Lakshmi Nagar?

The Sub Registrar Office that covers Lakshmi Nagar is the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a critical factor in the registration of property transactions in Anakaputhur. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives the appropriate stamp duty and registration fees based on this value.

When buying or selling property, it is essential to be aware of the guideline value as it can impact the overall transaction costs. Buyers and sellers should ensure that the sale price is at least equal to the guideline value to avoid any legal issues during registration.

Frequently asked questions

What is the current guideline value of Lakshmi Nagar?

The current guideline value of Lakshmi Nagar is Rs 1,980 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly, from Rs 183 per sq.ft in 2003 to Rs 1,980 per sq.ft in 2024, representing an overall increase of 982% over this period.

What is the land classification for Lakshmi Nagar?

Lakshmi Nagar is classified as Residential Class I Type - I, which indicates its designation for residential purposes.

Where can I find the registration office for Lakshmi Nagar?

The registration office for Lakshmi Nagar is the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075.

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 property valued at Rs 19,80,000, the stamp duty at 7% would be Rs 1,38,600.