Guideline Value for Lakshmi Nagar

Lakshmi Nagar guideline value

The current guideline value of Lakshmi Nagar, located in Ilupoor village under the Sriperumpudur SRO, is Rs 110 per sq.ft. This value is effective from 1 July 2024 and falls under the Residential Class I Type - I land classification.

How the guideline value of Lakshmi Nagar has changed

The guideline value for Lakshmi Nagar has seen several revisions over the years. In 2007, the guideline value was Rs 30 per sq.ft, which increased significantly to Rs 100 per sq.ft in 2012. However, it decreased to Rs 67 per sq.ft in 2017. The value then rose to Rs 100 per sq.ft in 2023, and the most recent revision in 2024 set it at Rs 110 per sq.ft. The register has no figures for the years 2002 and 2003 for this street.

From 2017 to 2023, there was a notable increase of 49%, while the jump from 2023 to 2024 was 10%. The value saw a remarkable increase of 233% from 2007 to 2012, but then dropped by 33% from 2012 to 2017. Overall, from 2007 to 2024, the guideline value has increased by 267%.

Guideline values in Ilupoor

In Ilupoor, there are three streets under the Sriperumpudur SRO that carry a 2024 guideline value ranging from Rs 110 to Rs 300 per sq.ft, with a median value of Rs 250 per sq.ft. Lakshmi Nagar's 2024 figure is below this median.

• Fortune Forms: Rs 250 per sq.ft (2024)
• Water Front Land: Rs 300 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 110 per sq.ft, the total guideline value amounts to Rs 1,10,000. The stamp duty, charged at 7%, would be Rs 7,700, and the registration fee at 2% would be Rs 2,200, bringing the total cost for these fees to Rs 9,900. Duty is charged on the guideline value or the sale price, whichever is higher. For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Lakshmi Nagar?

The Sub Registrar Office covering 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 Ilupoor

The guideline value is an essential factor in the registration process of property transactions in Ilupoor. It serves as a benchmark for determining the stamp duty and registration fees applicable to the property being bought or sold.

When a buyer or seller engages in a property transaction, the guideline value helps ensure that the registration fees are calculated fairly. This value is used to assess the financial obligations associated with the transfer of property ownership.

Frequently asked questions

What is the current guideline value of Lakshmi Nagar?

The current guideline value of Lakshmi Nagar is Rs 110 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 30 per sq.ft in 2007 to Rs 110 per sq.ft in 2024, with several revisions in between, including a decrease and subsequent increases.

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

For a 1,000 sq.ft plot at the current guideline value, the total stamp duty would be Rs 7,700 and the registration fee would be Rs 2,200, totaling Rs 9,900.

Which Sub Registrar Office covers Lakshmi Nagar?

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

How is the guideline value used in property transactions?

The guideline value is used to determine the stamp duty and registration fees during property transactions. It serves as a benchmark to ensure that these fees are calculated appropriately based on the value of the property.