Guideline Value for Lakshmiram Nagar

Lakshmiram Nagar guideline value

The current guideline value of Lakshmiram Nagar, located in Zaminpallavaram village under the Pallavaram SRO, is Rs 2,750 per sq.ft as per the 2024 revision effective from 1 July 2024. This area falls under Residential Class II Type - I land classification.

How the guideline value of Lakshmiram Nagar has changed

Over the years, the guideline value for Lakshmiram Nagar has seen significant changes. The earliest recorded figure is from 2003, where the guideline value was Rs 154 per sq.ft. This increased to Rs 600 per sq.ft in 2007, followed by a substantial rise to Rs 2,500 per sq.ft in 2012. However, in 2017, the value dropped to Rs 1,675 per sq.ft, before rebounding to Rs 2,500 per sq.ft in 2023. The latest revision in 2024 set the guideline value at Rs 2,750 per sq.ft, marking a 10% increase from the previous year.

In summary, from 2003 to 2024, the guideline value has increased by a remarkable 1686%. The specific changes between revisions include a 290% rise from 2003 to 2007, a 317% increase from 2007 to 2012, a 33% decrease from 2012 to 2017, and a 49% increase from 2017 to 2023.

Guideline values in Zaminpallavaram

In Zaminpallavaram, there are 638 streets under the Pallavaram SRO with a 2024 guideline value ranging from Rs 2,100 to Rs 11,000 per sq.ft. The median guideline value in this area is Rs 3,300 per sq.ft, indicating that Lakshmiram Nagar's 2024 figure is below this median.

• Lalbagadursasthri 1st Cross 1st Lane: Rs 3,300 per sq.ft (2024)
• Lalbagadursasthri 1st Cross 2nd Lane: Rs 3,300 per sq.ft (2024)
• Lalbagadursasthri 1st Cross 3rd Lane: Rs 3,300 per sq.ft (2024)
• Lalbagadursasthri 1st Cross 4th Lane: Rs 3,300 per sq.ft (2024)
• Lalbagadursasthri 1st Cross Street: Rs 3,300 per sq.ft (2024)
• Lalbagadursasthri 2nd Cross 1st Lane: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Lakshmiram Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 2,750 per sq.ft, the total guideline value amounts to Rs 27,50,000. The stamp duty at 7% would be Rs 1,92,500, and the registration fee at 2% would be Rs 55,000, totaling Rs 2,47,500. It is important to note that the 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 Lakshmiram Nagar?

The Sub Registrar Office that covers Lakshmiram 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 information.

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

The guideline value is a crucial factor when registering property transactions in Zaminpallavaram. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring transparency and fairness in property dealings.

When buying or selling a property, the guideline value helps in calculating the applicable stamp duty and registration fees. Buyers must be aware that these costs are based on the higher of the guideline value or the actual sale price of the property.

Frequently asked questions

What is the current guideline value of Lakshmiram Nagar?

The current guideline value of Lakshmiram Nagar is Rs 2,750 per sq.ft as per the 2024 revision effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 154 per sq.ft in 2003 to Rs 2,750 per sq.ft in 2024, reflecting an overall increase of 1686% over the period.

What are the stamp duty and registration fees for properties in Lakshmiram Nagar?

For a property valued at Rs 27,50,000, the stamp duty would be Rs 1,92,500 and the registration fee would be Rs 55,000, totaling Rs 2,47,500.

Which Sub Registrar Office covers Lakshmiram Nagar?

The Pallavaram Sub Registrar Office covers Lakshmiram Nagar, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044.

What is the land classification of Lakshmiram Nagar?

Lakshmiram Nagar falls under the Residential Class II Type - I land classification, which is important for understanding the potential uses of the land.