Guideline Value for Lakshmi nagar 447

Lakshmi nagar 447 guideline value

The current guideline value of Lakshmi nagar 447 is Rs 1,980 per sq.ft, effective from 1 July 2024. This property is located in Poonthamallee village under the Poonamallee SRO, classified as Residential Class III Type - I.

How the guideline value of Lakshmi nagar 447 has changed

The guideline value for Lakshmi nagar 447 has seen several revisions over the years. In 2007, the guideline value was Rs 200 per sq.ft, which increased significantly to Rs 1,800 per sq.ft in 2012, marking an increase of 800%. However, it then decreased to Rs 1,206 per sq.ft in 2017, reflecting a reduction of 33%. The value rose again to Rs 1,800 per sq.ft in 2023, and the latest revision in 2024 set it at Rs 1,980 per sq.ft, which is a 10% increase from the previous year.

From 2017 to 2023, the guideline value increased by 49%. Overall, from 2007 to 2024, the guideline value has increased by 890%. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Poonthamallee

In Poonthamallee, there are 257 streets under the Poonamallee SRO carrying a 2024 guideline value ranging from Rs 1,980 to Rs 4,950 per sq.ft, with a median value of Rs 2,200 per sq.ft. The guideline value of Lakshmi nagar 447 is below this median.

• Lakshmi nagar 567,566,643,967: Rs 1,980 per sq.ft (2024)
• Lakshmi Nagar: Rs 2,200 per sq.ft (2024)
• Lakshmipuram: Rs 3,250 per sq.ft (2024)
• Kundrathoor Road Door No 1st To 19: Rs 2,740 per sq.ft (2024)
• Kundrathoor Road 24 To 130: Rs 2,740 per sq.ft (2024)
• Kundrathoor road: Rs 2,740 per sq.ft (2024)

Stamp duty and registration fee for property in Lakshmi nagar 447

For a 1,000 sq.ft plot at the current guideline value of Rs 1,980 per sq.ft, the total guideline value amounts to Rs 19,80,000. The stamp duty at 7% would be Rs 1,38,600, and the registration fee at 2% would be Rs 39,600, bringing the total fees to Rs 1,78,200. 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 nagar 447?

The Sub Registrar Office covering Lakshmi nagar 447 is the Poonamallee Sub Registrar Office, located at No.332 U + 9cc Malma Nagar Poonallee Chennai - 600056. You can find your SRO for more details.

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

The guideline value is a crucial factor in property transactions in Poonthamallee. It serves as a benchmark for determining the stamp duty and registration fees applicable during the sale or purchase of property. Buyers and sellers must consider the guideline value to ensure compliance with legal requirements during the registration process.

When a property is sold, the guideline value helps in assessing the minimum value on which stamp duty is calculated. This ensures that the transaction is recorded accurately, reflecting the value of the property as per the government's assessment.

Frequently asked questions

What is the current guideline value of Lakshmi nagar 447?

The current guideline value of Lakshmi nagar 447 is Rs 1,980 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 200 per sq.ft in 2007 to Rs 1,980 per sq.ft in 2024, reflecting an overall increase of 890% over the years.

What are the stamp duty and registration fees for properties in Lakshmi nagar 447?

For a property valued at Rs 19,80,000, the stamp duty would be Rs 1,38,600 and the registration fee would be Rs 39,600, totaling Rs 1,78,200.

Which Sub Registrar Office is responsible for Lakshmi nagar 447?

The Poonamallee Sub Registrar Office covers Lakshmi nagar 447, located at No.332 U + 9cc Malma Nagar Poonallee Chennai - 600056.

What is the land classification for Lakshmi nagar 447?

Lakshmi nagar 447 is classified as Residential Class III Type - I according to the guideline value register.