Guideline Value for Lakshmi Nagar

Lakshmi Nagar guideline value

The current guideline value of Lakshmi Nagar is Rs 500 per sq.ft, effective from 1 July 2024. This street is located in Irunkattukottai_B village under the Sriperumpudur SRO, classified as Residential Class II Type - I.

How the guideline value of Lakshmi Nagar has changed

Over the years, the guideline value for Lakshmi Nagar has seen several revisions. The earliest available figure is from 2017, which was Rs 335 per sq.ft. This remained unchanged until the 2023 revision, which also recorded the value at Rs 500 per sq.ft. The 2024 revision maintained this figure, showing no change from the previous year.

From 2017 to 2023, the guideline value increased by 49%. Overall, from 2017 to 2024, the increase remains at 49%, reflecting a stable value in recent years. The register has no figures for the years 2002, 2003, 2007, and 2012 for this street.

Guideline values in Irunkattukottai_B

In Irunkattukottai_B, there are 54 streets under the Sriperumpudur SRO that carry a 2024 guideline value, ranging from Rs 250 to Rs 1,200 per sq.ft. The median value for these streets is Rs 400 per sq.ft, placing Lakshmi Nagar's 2024 figure above this median.

• Madhavan Nagar: Rs 400 per sq.ft (2024)
• Marvel Shire Nagar: Rs 800 per sq.ft (2024)
• Mecca Nagar: Rs 600 per sq.ft (2024)
• Meenakshi Amman Nagar: Rs 600 per sq.ft (2024)
• Kandasala Nagar: Rs 500 per sq.ft (2024)
• M.G.R.Street: Rs 250 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 500 per sq.ft, the total guideline value amounts to Rs 5,00,000. The stamp duty at 7% would be Rs 35,000, and the registration fee at 2% would be Rs 10,000, totaling Rs 45,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For more details, 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 information.

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

The guideline value is a crucial factor during the registration process when buying or selling property in Irunkattukottai_B. It serves as a benchmark for calculating stamp duty and registration fees, ensuring that these costs are aligned with the official valuation set by the government.

When a property is sold, the guideline value helps determine the minimum price at which the property can be registered. This ensures that both buyers and sellers are aware of the official valuation, which aids in fair transactions and compliance with local regulations.

Frequently asked questions

What is the current guideline value of Lakshmi Nagar?

The current guideline value of Lakshmi Nagar is Rs 500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Since 2017, the guideline value has increased by 49%, remaining stable at Rs 500 per sq.ft from 2023 to 2024.

What are the other streets in Irunkattukottai_B?

Other streets in Irunkattukottai_B include Madhavan Nagar, Marvel Shire Nagar, Mecca Nagar, Meenakshi Amman Nagar, Kandasala Nagar, and M.G.R.Street, with varying guideline values.

What is the stamp duty rate for properties in Lakshmi Nagar?

The stamp duty rate for properties in Lakshmi Nagar is 7% of the guideline value or the sale price, whichever is higher.

Where is the Sub Registrar Office for Lakshmi Nagar located?

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