Guideline Value for Lalitha Nagar, Lakshmipuram (Ward-26)

Lalitha Nagar, Lakshmipuram (Ward-26) guideline value

The current guideline value of Lalitha Nagar, Lakshmipuram (Ward-26) is Rs 1,300 per sq.ft, effective from 1 July 2024. This property is classified under Residential Class III Type - I and falls under the Madhavaram SRO in Chennai, Tamil Nadu.

How the guideline value of Lalitha Nagar, Lakshmipuram (Ward-26) has changed

The guideline value for Lalitha Nagar has seen several revisions over the years. In 2012, the value was Rs 1,200 per sq.ft, which decreased to Rs 804 per sq.ft in 2017. Following this, the value increased significantly to Rs 1,200 per sq.ft in 2023, and then to Rs 1,300 per sq.ft in 2024, marking an 8% increase from the previous year.

From 2017 to 2023, there was a notable increase of 49%. Overall, from 2012 to 2024, the guideline value has increased by 8%. It is important to note that there are no figures available for the revisions in 2002, 2003, and 2007 for this street.

Guideline values in Madhavaram

In Madhavaram, there are 1,946 streets under the Madhavaram SRO that carry a 2024 guideline value ranging from Rs 1,300 to Rs 7,500 per sq.ft, with a median value of Rs 1,600 per sq.ft. Lalitha Nagar's current guideline value is below this median.

• Lalitha Nagar: Rs 1,300 per sq.ft (2024)
• Lalitha Garden (Ward-07): Rs 1,300 per sq.ft (2024)
• Lalitha Garden Roads (Ward No.7): Rs 1,300 per sq.ft (2024)
• Lalbahadur Sasthiri Street (Lakshmipuram): Rs 1,300 per sq.ft (2024)
• Lakshmi Puram (Thiyagi Sankara Linganar Street): Rs 1,300 per sq.ft (2024)
• Lakshmipuram Thirumal Nagr (Ward 29): Rs 1,300 per sq.ft (2024)

Stamp duty and registration fee for property in Lalitha Nagar, Lakshmipuram (Ward-26)

For a 1,000 sq.ft plot at the current guideline value of Rs 1,300 per sq.ft, the total guideline value amounts to Rs 13,00,000. The stamp duty at 7% would be Rs 91,000, and the registration fee at 2% would be Rs 26,000, totaling Rs 1,17,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Lalitha Nagar, Lakshmipuram (Ward-26)?

The Lalitha Nagar property falls under the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process of property transactions in Madhavaram. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the sale or purchase of property.

Frequently asked questions

What is the current guideline value of Lalitha Nagar, Lakshmipuram (Ward-26)?

The current guideline value of Lalitha Nagar, Lakshmipuram (Ward-26) is Rs 1,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,200 per sq.ft in 2012 to Rs 804 per sq.ft in 2017, then increased to Rs 1,200 per sq.ft in 2023, and finally to Rs 1,300 per sq.ft in 2024.

What is the land classification for Lalitha Nagar?

Lalitha Nagar is classified under Residential Class III Type - I, indicating its designation for residential purposes.

Where can I find the Madhavaram Sub Registrar Office?

The Madhavaram Sub Registrar Office is located at No.7, Roja Nagar, Madhavaram, Chennai-600060.

How is the stamp duty calculated for property in Lalitha Nagar?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a 1,000 sq.ft plot at Rs 1,300 per sq.ft, the total guideline value is Rs 13,00,000, leading to a stamp duty of Rs 91,000.