Guideline Value for Lakshmi Narayanan Nagar

Lakshmi Narayanan Nagar guideline value

The current guideline value for Lakshmi Narayanan Nagar, located in S. Kullathur village under the Pallavaram SRO, is Rs 2,530 per sq.ft, effective from 1 July 2024. This area falls under the Residential Class I Type - II land classification.

How the guideline value of Lakshmi Narayanan Nagar has changed

The guideline value for Lakshmi Narayanan Nagar has undergone several revisions over the years. In 2003, the guideline value was Rs 68 per sq.ft. This increased to Rs 350 per sq.ft in 2007, marking a significant rise of 415%. The value then saw a dramatic increase to Rs 2,300 per sq.ft in 2012, which represented a 557% increase from the previous revision. However, from 2012 to 2017, the value decreased to Rs 1,541 per sq.ft, a drop of 33%. The guideline value then rose to Rs 2,000 per sq.ft in 2023, reflecting a 30% increase. The most recent revision in 2024 set the value at Rs 2,530 per sq.ft, which is a 27% increase from the previous year.

Overall, from 2003 to 2024, the guideline value has increased by 3,621%. The register has no figure for this street for the year 2002.

Guideline values in S. Kullathur

In S. Kullathur, there are 71 streets under the Pallavaram SRO that have a 2024 guideline value ranging from Rs 1,320 to Rs 4,400 per sq.ft. The median value for these streets is Rs 2,750 per sq.ft, placing Lakshmi Narayanan Nagar's 2024 figure below this median. Below are the guideline values for other streets in S. Kullathur:

• LIC Nagar: Rs 2,530 per sq.ft (2024)
• Mahalakshmi Nagar: Rs 3,300 per sq.ft (2024)
• Mahalakshmi Nagar 1 To 6 Streets: Rs 2,530 per sq.ft (2024)
• Kulathur Main Road: Rs 4,400 per sq.ft (2024)
• Krishna Nagar 1st Main Road: Rs 2,530 per sq.ft (2024)
• Krishna Nagar: Rs 2,530 per sq.ft (2024)

Stamp duty and registration fee for property in Lakshmi Narayanan Nagar

For a 1,000 sq.ft plot at the current guideline value, the total guideline value would be Rs 25,30,000. The stamp duty at 7% would amount to Rs 1,77,100, while the registration fee at 2% would be Rs 50,600. Together, the total cost for stamp duty and registration would be Rs 2,27,700. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Lakshmi Narayanan Nagar?

The Sub Registrar Office that covers Lakshmi Narayanan Nagar is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone. You can find your SRO for more details.

How the guideline value is used when you buy or sell in S. Kullathur

The guideline value is a crucial factor when registering property in S. Kullathur. It serves as a benchmark for determining the stamp duty and registration fees payable during the transaction. Buyers and sellers should be aware that the guideline value can influence the overall costs associated with property transactions.

When a property is sold, the registration office uses the guideline value to calculate applicable duties. This ensures that the transaction is recorded accurately, and the correct fees are collected based on the established guideline value.

Frequently asked questions

What is the current guideline value of Lakshmi Narayanan Nagar?

The current guideline value of Lakshmi Narayanan Nagar is Rs 2,530 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen significant changes, increasing from Rs 68 per sq.ft in 2003 to Rs 2,530 per sq.ft in 2024, which is an overall increase of 3,621%.

What is the land classification of Lakshmi Narayanan Nagar?

Lakshmi Narayanan Nagar falls under the Residential Class I Type - II land classification.

What are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 25,30,000, the stamp duty would be Rs 1,77,100 and the registration fee would be Rs 50,600, totaling Rs 2,27,700.

Where is the Sub Registrar Office for Lakshmi Narayanan Nagar located?

The Sub Registrar Office for Lakshmi Narayanan Nagar is located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone.