Guideline Value for Lakshmi Nagar

Lakshmi Nagar guideline value

The current guideline value of Lakshmi Nagar, located in Amarampedu village under the Sriperumpudur SRO, is Rs 350 per sq.ft, effective from 1 July 2024. This area 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 value was Rs 100 per sq.ft, which increased significantly to Rs 350 per sq.ft in 2012. However, the value saw a decrease to Rs 234 per sq.ft in 2017. From 2017 to 2023, the value remained stable at Rs 350 per sq.ft, and the 2024 revision also holds the same value of Rs 350 per sq.ft, indicating no change from the previous year.

In summary, from 2007 to 2024, the guideline value has increased by 250%. Notably, there are no registered figures for the years 2002 and 2003 for this street.

Guideline values in Amarampedu

In Amarampedu, there are 45 streets under the Sriperumpudur SRO, with the 2024 guideline values ranging from Rs 100 to Rs 500 per sq.ft. The median value across these streets is Rs 200 per sq.ft, positioning Lakshmi Nagar's 2024 figure above this median.

• Lakshmi Nagar Phase 2: Rs 350 per sq.ft (2024)
• Kundrathur Main Road: Rs 500 per sq.ft (2024)
• Madha garden: Rs 200 per sq.ft (2024)
• Mandapam Street: Rs 150 per sq.ft (2024)
• Manickapuri: Rs 100 per sq.ft (2024)
• Manickapuri Extn: Rs 100 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 350 per sq.ft, the total guideline value amounts to Rs 3,50,000. The stamp duty at 7% would be Rs 24,500, and the registration fee at 2% would be Rs 7,000, bringing the total cost for these fees to Rs 31,500. It is important to note that duty is charged on the higher of the guideline value and the sale price. For more information, 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 Sriperumpudur Sub Registrar Office, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value plays a crucial role during the registration of property transactions in Amarampedu. It serves as a benchmark for determining the stamp duty and registration fees that must be paid when buying or selling property in the area.

When a property is sold, the guideline value is used to calculate the applicable duties, ensuring that the transaction is recorded at an official value recognized by the government. This helps maintain transparency in property transactions within the region.

Frequently asked questions

What is the current guideline value of Lakshmi Nagar?

The current guideline value of Lakshmi Nagar is Rs 350 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 100 per sq.ft in 2007 to Rs 350 per sq.ft in 2012, decreased to Rs 234 per sq.ft in 2017, and remained Rs 350 per sq.ft from 2017 to 2024.

What are the other streets in Amarampedu with their guideline values?

Other streets in Amarampedu include Lakshmi Nagar Phase 2 at Rs 350 per sq.ft, Kundrathur Main Road at Rs 500 per sq.ft, Madha garden at Rs 200 per sq.ft, Mandapam Street at Rs 150 per sq.ft, Manickapuri at Rs 100 per sq.ft, and Manickapuri Extn at Rs 100 per sq.ft.

What is the stamp duty for property in Lakshmi Nagar?

The stamp duty for property in Lakshmi Nagar is calculated at 7% of the guideline value. For a property valued at Rs 3,50,000, the stamp duty would amount to Rs 24,500.

Which office handles property registrations in Lakshmi Nagar?

The Sriperumpudur Sub Registrar Office handles property registrations for Lakshmi Nagar, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone.