Guideline Value for Lakshmi Narayana Avenue (Ward-26)

Lakshmi Narayana Avenue (Ward-26) guideline value

The current guideline value of Lakshmi Narayana Avenue (Ward-26) is Rs 1,300 per sq.ft. This street is located in Madhavaram village, under the Madhavaram SRO, and is classified as Residential Class III Type - I.

How the guideline value of Lakshmi Narayana Avenue (Ward-26) has changed

In the 2012 revision, the guideline value was set at Rs 1,200 per sq.ft. This figure then decreased to Rs 804 per sq.ft in the 2017 revision, marking a decline of 33%. However, from 2017 to the 2024 revision, the guideline value increased significantly to Rs 1,300 per sq.ft, reflecting a rise of 62%.

Overall, comparing the 2012 figure to the 2024 figure shows a slight increase of 8%. The register does not have figures for the years 2002, 2003, 2007, and 2023 for this street.

Guideline values in Madhavaram

In Madhavaram, there are 1,946 streets under the Madhavaram SRO that carry a 2024 guideline value ranging from Rs 1,300 to Rs 7,500 per sq.ft, with a median value of Rs 1,600 per sq.ft. The guideline value for Lakshmi Narayana Avenue (Ward-26) is below this median.

• Lakshmi Narayana Avenue (Ward-29): Rs 1,300 per sq.ft (2024)
• Lakshmi Narayan Annex: Rs 1,300 per sq.ft (2024)
• Lakshmi Narayana perumal Koil st (Ward No.28): Rs 1,300 per sq.ft (2024)
• Lakshmi Nagar, Ponniammanmedu (Ward-24): Rs 1,300 per sq.ft (2024)
• Lakshmi Nagar (Ponniamman Medu): Rs 2,700 per sq.ft (2024)
• Lakshmipuram Thirumal Nagr (Ward 29): Rs 1,300 per sq.ft (2024)

Stamp duty and registration fee for property in Lakshmi Narayana Avenue (Ward-26)

For a 1,000 sq.ft plot at the current guideline value of Rs 1,300 per sq.ft, the total guideline value amounts to Rs 13,00,000. The stamp duty at 7% would be Rs 91,000, and the registration fee at 2% would be Rs 26,000, bringing the total to Rs 1,17,000. It is important to note that duty is charged on the higher of the guideline value and the sale price.

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

Which Sub Registrar Office covers Lakshmi Narayana Avenue (Ward-26)?

The Sub Registrar Office that covers Lakshmi Narayana Avenue (Ward-26) is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find your SRO for more information.

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

The guideline value is a critical factor in the registration process of property transactions in Madhavaram. It serves as a baseline for determining the stamp duty and registration fees that need to be paid during the sale or purchase of property.

When you buy or sell property, the guideline value is used to calculate the applicable charges. This ensures that both parties are aware of the financial obligations associated with the transaction, contributing to a transparent process.

Frequently asked questions

What is the current guideline value of Lakshmi Narayana Avenue (Ward-26)?

The current guideline value of Lakshmi Narayana Avenue (Ward-26) is Rs 1,300 per sq.ft, effective from July 1, 2024.

How has the guideline value changed over the years?

Since the 2012 revision, the guideline value has seen fluctuations, starting from Rs 1,200 per sq.ft in 2012, dropping to Rs 804 per sq.ft in 2017, and then rising to Rs 1,300 per sq.ft in 2024.

What is the land classification for Lakshmi Narayana Avenue (Ward-26)?

Lakshmi Narayana Avenue (Ward-26) is classified as Residential Class III Type - I, indicating its primary use for residential purposes.

Where can I find the Madhavaram Sub Registrar Office?

The Madhavaram Sub Registrar Office is located at No.7, Roja Nagar, Madhavaram, Chennai-600060. This office handles registrations for properties in the area.

How is stamp duty calculated for properties in Lakshmi Narayana Avenue (Ward-26)?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, for a property with a guideline value of Rs 13,00,000, the stamp duty at 7% would be Rs 91,000.