Guideline Value for Lakshmi Nagar

Lakshmi Nagar guideline value

The current guideline value of Lakshmi Nagar is Rs 700 per sq.ft, effective from 1 July 2024. This area is located in Sriperumbudur A village, under the Sriperumpudur SRO, and is classified as Residential Class III Type - I.

How the guideline value of Lakshmi Nagar has changed

The guideline value for Lakshmi Nagar has remained stable at Rs 700 per sq.ft from the 2023 revision to the 2024 revision. Prior to this, in the 2017 revision, the guideline value was Rs 469 per sq.ft, marking a 49% increase from 2017 to 2023.

There are no figures available for the revisions in the years 2002, 2003, 2007, and 2012. Overall, from the 2017 revision to the 2024 revision, the guideline value has increased by 49%.

Guideline values in Sriperumbudur A

In Sriperumbudur A, there are 238 streets under the Sriperumpudur SRO that have a 2024 guideline value ranging from Rs 400 to Rs 3,000 per sq.ft. The median guideline value is Rs 700 per sq.ft, which is the same as the guideline value for Lakshmi Nagar.

• Lake View Gardens: Rs 700 per sq.ft (2024)
• Kuya Street: Rs 1,200 per sq.ft (2024)
• Lancor: Rs 700 per sq.ft (2024)
• Le Waterina Resorts: Rs 800 per sq.ft (2024)
• Kuppu Mudali Street: Rs 700 per sq.ft (2024)
• Kulasekara Perumal Street: Rs 1,000 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 700 per sq.ft, the total guideline value would be Rs 7,00,000. The stamp duty at 7% would amount to Rs 49,000, and the registration fee at 2% would be Rs 14,000, bringing the total fees to Rs 63,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can also use the stamp duty and registration fee calculator for more information.

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 further assistance.

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

The guideline value is a critical factor in the registration process when buying or selling property in Sriperumbudur A. It serves as a benchmark for determining the stamp duty and registration fees that must be paid during the transaction.

When a property is sold, the guideline value is compared to the sale price, and the higher amount is used to calculate the applicable duties. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Lakshmi Nagar?

The current guideline value of Lakshmi Nagar is Rs 700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has remained the same at Rs 700 per sq.ft from 2023 to 2024. It increased from Rs 469 per sq.ft in 2017 to Rs 700 per sq.ft in 2023, marking a 49% increase.

What is the land classification for Lakshmi Nagar?

Lakshmi Nagar is classified as Residential Class III Type - I, indicating its suitability for residential development.

What are the stamp duty and registration fees for property transactions?

For a property valued at Rs 7,00,000, the stamp duty would be Rs 49,000 and the registration fee would be Rs 14,000, totaling Rs 63,000. These fees are based on 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 the Sriperumpudur Sub Registrar Office, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone.