Guideline Value for Lakshmi Nagar

Lakshmi Nagar guideline value

The current guideline value of Lakshmi Nagar, located in Valarpuram village under the Sriperumpudur SRO, is Rs 200 per sq.ft, effective from 1 July 2024. This area is classified as Residential Class III 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 recorded revision is from 2007, where the guideline value was Rs 100 per sq.ft. This increased to Rs 200 per sq.ft in 2012, marking a 100% increase. However, in 2017, the value decreased to Rs 134 per sq.ft, a drop of 33%. The value then rose significantly to Rs 200 per sq.ft in 2023, remaining unchanged in the 2024 revision.

From 2017 to 2023, there was a notable increase of 49%. The current guideline value of Rs 200 per sq.ft in 2024 is the same as in 2023, indicating no change. Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 100%.

Guideline values in Valarpuram

Valarpuram village has a total of 91 streets under the Sriperumpudur SRO, with guideline values ranging from Rs 100 to Rs 2,025 per sq.ft. The median guideline value for the area is Rs 300 per sq.ft, placing Lakshmi Nagar's 2024 figure below this median.

• Kulakkarai Street: Rs 200 per sq.ft (2024)
• Mahalakshmi Nagar: Rs 300 per sq.ft (2024)
• Main Road: Rs 700 per sq.ft (2024)
• Karuneergar Street: Rs 200 per sq.ft (2024)
• Karumariamman Nagar: Rs 200 per sq.ft (2024)
• Karthik Nagar: Rs 600 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 200 per sq.ft, the total guideline value amounts to Rs 2,00,000. The stamp duty at 7% would be Rs 14,000, and the registration fee at 2% would be Rs 4,000, resulting in a total of Rs 18,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator for more details.

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 Valarpuram

The guideline value is a crucial factor in property transactions in Valarpuram, as it determines the minimum value for registration purposes. When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees, ensuring that all transactions are recorded at a standard rate.

It is essential for buyers and sellers to be aware of the guideline value to avoid any discrepancies during the registration process. This value serves as a benchmark for property transactions, providing transparency and consistency in the real estate market.

Frequently asked questions

What is the current guideline value of Lakshmi Nagar?

The current guideline value of Lakshmi Nagar is Rs 200 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 100 per sq.ft in 2007 to Rs 200 per sq.ft in 2012, then decreasing to Rs 134 per sq.ft in 2017, and returning to Rs 200 per sq.ft in 2023 and 2024.

What is the median guideline value in Valarpuram?

The median guideline value in Valarpuram is Rs 300 per sq.ft, with Lakshmi Nagar's current value being below this median.

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

For a property valued at Rs 2,00,000, the stamp duty would be Rs 14,000 and the registration fee would be Rs 4,000, totaling Rs 18,000.

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.