Guideline Value for Lakshmi Nagar

Lakshmi Nagar guideline value

The current guideline value of Lakshmi Nagar, located in Agaramthen village under the Tambaram Joint 1 SRO, is Rs 2,970 per sq.ft. This value is effective from 1 July 2024. The land classification for this area is Mixed Special Type - I.

How the guideline value of Lakshmi Nagar has changed

The guideline value for Lakshmi Nagar has seen several revisions over the years. The 2017 revision set the value at Rs 1,800 per sq.ft, which increased to Rs 2,700 per sq.ft in the 2023 revision. The latest 2024 revision has further increased this value to Rs 2,970 per sq.ft, marking a 10% increase from the previous year. The overall change from the 2017 revision to the 2024 revision is a significant 65% increase.

There are no figures available for the revisions in the years 2002, 2003, 2007, and 2012 for this street. The changes leading up to the current value reflect a 50% increase from 2017 to 2023, showcasing a steady rise in the guideline value over the years.

Guideline values in Agaramthen

Agaramthen village has 125 streets under the Tambaram Joint 1 SRO that carry a 2024 guideline value ranging from Rs 440 to Rs 3,700 per sq.ft, with a median value of Rs 830 per sq.ft. The guideline value for Lakshmi Nagar is above this median.

• Lakshmi Nagar Phase-4: Rs 2,970 per sq.ft (2024)
• Lakshmi Nagar Phase - II: Rs 2,970 per sq.ft (2024)
• Lakshmi Nagar Phase - III: Rs 2,970 per sq.ft (2024)
• Kurunji Nagar 4th Street 1st And 5th Cross Street: Rs 440 per sq.ft (2024)
• Kurunji Nagar 4th Street: Rs 440 per sq.ft (2024)
• Kurunji Nagar 3rd Street: Rs 440 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 2,970 per sq.ft, the total guideline value amounts to Rs 29,70,000. The stamp duty at 7% would be Rs 2,07,900, and the registration fee at 2% would be Rs 59,400, bringing the total fees to Rs 2,67,300. It is important to note that duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for precise calculations.

Which Sub Registrar Office covers Lakshmi Nagar?

The Sub Registrar Office that covers Lakshmi Nagar is the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Agaramthen. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction.

When a property is sold, the guideline value helps ensure that the transaction is recorded at a fair value in the eyes of the law. This value is used to calculate the necessary fees and taxes, ensuring 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 2,970 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 1,800 per sq.ft in 2017 to Rs 2,970 per sq.ft in 2024, reflecting a 65% increase overall. The most recent revision from 2023 to 2024 saw a 10% increase.

What is the median guideline value in Agaramthen?

The median guideline value in Agaramthen is Rs 830 per sq.ft, with values ranging from Rs 440 to Rs 3,700 per sq.ft for the 2024 revision.

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

For a 1,000 sq.ft property at the current guideline value, the total stamp duty would be Rs 2,07,900, and the registration fee would be Rs 59,400, totaling Rs 2,67,300.

Which office handles the registration for Lakshmi Nagar?

The registration for Lakshmi Nagar is handled by the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059.