Guideline Value for Lakshminaranyan Nagar 3rd Street

Lakshminaranyan Nagar 3rd Street guideline value

The current guideline value of Lakshminaranyan Nagar 3rd 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 3rd Street has changed

The guideline value for Lakshminaranyan Nagar 3rd Street has seen significant changes over the years. In 2002, the value was Rs 160 per sq.ft, which increased to Rs 181 per sq.ft in 2003, marking a 13% rise. By 2007, the value rose to Rs 360 per sq.ft, reflecting a 99% increase from the previous revision. The 2017 revision showed a substantial jump to Rs 1,206 per sq.ft, a 235% increase from 2007. The value then rose to Rs 1,800 per sq.ft in 2023, which was a 49% increase from 2017. The most recent revision in 2024 saw the guideline value reach Rs 1,980 per sq.ft, marking a 10% increase from the previous year. It is important to note that the register has no figure for this street for the year 2012.

Guideline values in Pammal

In Pammal, there are 926 streets under the Pammal SRO that carry a 2024 guideline value ranging from Rs 880 to Rs 3,300 per sq.ft, with a median value of Rs 2,090 per sq.ft. The guideline value for Lakshminaranyan Nagar 3rd Street is below this median.

• Lakshminaranyan Nagar 2nd Street: Rs 1,980 per sq.ft (2024)
• Lakshminaranyan Nagar 4th Street: Rs 1,980 per sq.ft (2024)
• Lakshminaranyan Nagar 1st 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 3rd Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,980 per sq.ft, the total guideline value would be Rs 19,80,000. The stamp duty at 7% would amount to Rs 1,38,600, and the registration fee at 2% would be Rs 39,600, bringing the total fees to Rs 1,78,200. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Lakshminaranyan Nagar 3rd Street?

The Sub Registrar Office that covers Lakshminaranyan Nagar 3rd 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

When buying or selling property in Pammal, the guideline value is a crucial factor during the registration process. It serves as a benchmark for determining the stamp duty and registration fees, ensuring that the transaction is in accordance with the official valuations set by the Registration Department.

Buyers and sellers must be aware that the guideline value is used to calculate the applicable fees, which are based on either the guideline value or the sale price, whichever is higher. This ensures that the transaction reflects the current market standards as established by the local authorities.

Frequently asked questions

What is the current guideline value of Lakshminaranyan Nagar 3rd Street?

The current guideline value of Lakshminaranyan Nagar 3rd 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 increased from Rs 160 per sq.ft in 2002 to Rs 1,980 per sq.ft in 2024, showing an overall increase of 1138% over the years.

What is the land classification for Lakshminaranyan Nagar 3rd Street?

Lakshminaranyan Nagar 3rd Street is classified as Residential Class II Type - II.

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

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 office handles the registration for Lakshminaranyan Nagar 3rd Street?

The Pammal Sub Registrar Office handles the registration for Lakshminaranyan Nagar 3rd Street, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075.