Guideline Value for Lakshmi Nagar

Lakshmi Nagar guideline value

The current guideline value of Lakshmi Nagar in Ponthoor village is Rs 402 per sq.ft, effective from 1 July 2024. This area falls under the Sriperumpudur SRO and is classified as Residential Special Type - III.

How the guideline value of Lakshmi Nagar has changed

The guideline value for Lakshmi Nagar has undergone several revisions over the years. The earliest recorded figure is from 2007, where it was Rs 70 per sq.ft. This increased significantly to Rs 400 per sq.ft in 2012, followed by a decrease to Rs 268 per sq.ft in 2017. The value then rose to Rs 402 per sq.ft in both 2023 and the latest revision in 2024, reflecting no change from the previous year.

From 2017 to 2023, the guideline value increased by 50%. The jump from 2007 to 2012 was substantial at 471%, but it then decreased by 33% to the 2017 figure. Overall, from 2007 to 2024, the guideline value has increased by 474%. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Ponthoor

Ponthoor village has 79 streets under the Sriperumpudur SRO, with guideline values ranging from Rs 200 to Rs 2,239 per sq.ft. The median guideline value for the village is Rs 300 per sq.ft, placing Lakshmi Nagar's 2024 figure above this median.

• Kuvalai Poo Street: Rs 300 per sq.ft (2024)
• Kurinchi Poo Street: Rs 300 per sq.ft (2024)
• Magilam poo street: Rs 300 per sq.ft (2024)
• Malligai Poo Street: Rs 300 per sq.ft (2024)
• Konrai Poo Street: Rs 300 per sq.ft (2024)
• Manoranjitham Poo Street: 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 402 per sq.ft, the total guideline value amounts to Rs 4,02,000. The stamp duty, calculated at 7%, would be Rs 28,140, while the registration fee at 2% would be Rs 8,040. Together, the total cost for stamp duty and registration would be Rs 36,180. 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 our 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 information.

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

The guideline value is a crucial factor during the registration of property transactions in Ponthoor. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, the guideline value helps both buyers and sellers understand the official valuation of the property. This value is used to calculate the necessary fees and taxes associated with the transaction, making it an essential aspect of the property buying and selling process.

Frequently asked questions

What is the current guideline value of Lakshmi Nagar?

The current guideline value of Lakshmi Nagar is Rs 402 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed multiple times, starting from Rs 70 per sq.ft in 2007, reaching Rs 400 in 2012, decreasing to Rs 268 in 2017, and then stabilizing at Rs 402 from 2023 to 2024.

What is the land classification for Lakshmi Nagar?

Lakshmi Nagar is classified as Residential Special Type - III, indicating its designated use for residential purposes.

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

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

How is stamp duty calculated for properties in Lakshmi Nagar?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 4,02,000, the stamp duty at 7% would be Rs 28,140.