Guideline Value for Lakshminaranyan Nagar 1st Street

Lakshminaranyan Nagar 1st Street guideline value

The current guideline value of Lakshminaranyan Nagar 1st Street is Rs 1,980 per sq.ft, effective from 1 July 2024. This street is located in Pammal village, under the Pammal SRO, and is classified as Residential Class II Type - II.

How the guideline value of Lakshminaranyan Nagar 1st Street has changed

Over the years, the guideline value of Lakshminaranyan Nagar 1st Street has seen significant changes. In 2002, the value was Rs 228 per sq.ft, which increased to Rs 258 per sq.ft in 2003, marking a 13% rise. The value further rose to Rs 360 per sq.ft in 2007, reflecting a 40% increase from the previous revision. By 2017, the guideline value had jumped to Rs 1,206 per sq.ft, representing a substantial 235% increase. The 2023 revision set the value at Rs 1,800 per sq.ft, a 49% increase from 2017. The most recent revision in 2024 has brought the guideline value to Rs 1,980 per sq.ft, a 10% increase from 2023.

It is important to note that there is no figure recorded for this street in the 2012 revision. Overall, from 2002 to 2024, the guideline value has increased by 768%.

Guideline values in Pammal

Pammal village has a total of 926 streets under the Pammal SRO, with guideline values for 2024 ranging from Rs 880 to Rs 3,300 per sq.ft. The median guideline value in this area is Rs 2,090 per sq.ft, which means that the guideline value of Lakshminaranyan Nagar 1st Street is below this median.

• Lakshminaranyan Nagar 2nd Street: Rs 1,980 per sq.ft (2024)
• Lakshminaranyan Nagar 3rd Street: Rs 1,980 per sq.ft (2024)
• Lakshminaranyan Nagar 4th Street: Rs 1,980 per sq.ft (2024)
• Lakshminaranyan Street: Rs 1,980 per sq.ft (2024)
• Lakshman Street / Thandai Periyar Nagar: Rs 1,980 per sq.ft (2024)
• Lakshman Street / Muthamzhi Nagar: Rs 2,475 per sq.ft (2024)

Stamp duty and registration fee for property in Lakshminaranyan Nagar 1st Street

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 together to Rs 1,78,200. Please note that the duty is charged on the higher of the guideline value and the sale price.

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

Which Sub Registrar Office covers Lakshminaranyan Nagar 1st Street?

The Sub Registrar Office covering Lakshminaranyan Nagar 1st Street is the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, 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 Pammal

The guideline value is a crucial factor when buying or selling property in Pammal, as it determines the minimum value at which a property can be registered. This ensures that the property is registered at a value that reflects the market conditions as set by the government.

When a property is sold, the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. This means that buyers should be aware of the guideline value to understand the costs involved in the registration process.

Frequently asked questions

What is the current guideline value of Lakshminaranyan Nagar 1st Street?

The current guideline value of Lakshminaranyan Nagar 1st Street 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 significantly from Rs 228 per sq.ft in 2002 to Rs 1,980 per sq.ft in 2024, reflecting an overall increase of 768% over these years.

What is the median guideline value in Pammal?

The median guideline value in Pammal is Rs 2,090 per sq.ft, which is higher than the guideline value of Lakshminaranyan Nagar 1st Street.

What are the stamp duty rates for properties in Lakshminaranyan Nagar 1st Street?

The stamp duty for properties in Lakshminaranyan Nagar 1st Street is 7% of the guideline value, and the registration fee is 2% of the guideline value.

Where can I find the Pammal Sub Registrar Office?

The Pammal Sub Registrar Office is located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, in the Chengalpattu registration zone.