Guideline Value for LakshmiNagar

LakshmiNagar guideline value

The current guideline value of LakshmiNagar is Rs 880 per sq.ft, effective from 1 July 2024. This area is located in Nandambakkam village and falls under the Padappai SRO. The land classification for this street is Residential Class I Type - I.

How the guideline value of LakshmiNagar has changed

In the 2007 revision, the guideline value was Rs 75 per sq.ft. This increased significantly to Rs 800 per sq.ft in the 2012 revision, marking an increase of 967%. However, in the 2017 revision, the value decreased to Rs 536 per sq.ft, a drop of 33%. The guideline value then rose to Rs 800 per sq.ft in 2023, and subsequently increased to Rs 880 per sq.ft in the 2024 revision, representing a 10% increase.

From 2017 to 2023, the guideline value saw a substantial increase of 49%. Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 1073%. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Nandambakkam

Nandambakkam village has a total of 94 streets under the Padappai SRO that carry a 2024 guideline value, ranging from Rs 440 to Rs 2,300 per sq.ft. The median guideline value for these streets is Rs 880 per sq.ft, which is equal to the guideline value of LakshmiNagar.

• Lakshmi Nagar Entn: Rs 990 per sq.ft (2024)
• Kumaran Nagar: Rs 990 per sq.ft (2024)
• Mahalakshmi Nagar: Rs 720 per sq.ft (2024)
• Krishna Nagar: Rs 990 per sq.ft (2024)
• Mahalakshmi Nagar Extn I and II: Rs 990 per sq.ft (2024)
• Mallika Nagar: Rs 990 per sq.ft (2024)

Stamp duty and registration fee for property in LakshmiNagar

For a 1,000 sq.ft plot at the current guideline value of Rs 880 per sq.ft, the total guideline value would be Rs 8,80,000. The stamp duty at 7% would amount to Rs 61,600, and the registration fee at 2% would be Rs 17,600, bringing the total fees to Rs 79,200. Duty is charged on the higher of the guideline value or the sale price.

For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers LakshmiNagar?

The Sub Registrar Office that covers LakshmiNagar is the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor when registering property transactions in Nandambakkam. It serves as a benchmark for calculating stamp duty and registration fees, ensuring that the government receives appropriate revenue from property transactions.

When buying or selling property, the guideline value will be used to determine the applicable taxes. Buyers should be aware that the duty is charged on the higher of the guideline value or the sale price, which may affect the total cost of the transaction.

Frequently asked questions

What is the current guideline value of LakshmiNagar?

The current guideline value of LakshmiNagar is Rs 880 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 75 per sq.ft in 2007 to Rs 880 per sq.ft in 2024, showing an overall increase of 1073% over the years.

What is the median guideline value in Nandambakkam?

The median guideline value in Nandambakkam is Rs 880 per sq.ft, which is the same as the guideline value for LakshmiNagar.

What are the stamp duty rates for property in LakshmiNagar?

The stamp duty for property in LakshmiNagar is charged at 7% of the guideline value or sale price, whichever is higher.

Where can I find the Sub Registrar Office for LakshmiNagar?

The Sub Registrar Office for LakshmiNagar is located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone.