Guideline Value for Lalitha Nagar

Lalitha Nagar guideline value

The current guideline value of Lalitha Nagar, located in Karanaipuducheri village, is Rs 800 per sq.ft as per the 2024 revision, effective from 1 July 2024. This area falls under the Gooduvancheri Sub Registrar Office and is classified as Residential Class I Type - II.

How the guideline value of Lalitha Nagar has changed

Over the years, the guideline value of Lalitha Nagar has seen several revisions. The 2007 revision set the value at Rs 155 per sq.ft, which increased to Rs 800 per sq.ft in 2012, marking a significant rise of 416%. However, from 2012 to 2017, the value decreased to Rs 536 per sq.ft, a drop of 33%. The value then increased by 49% to Rs 800 per sq.ft in the 2023 revision, which remained unchanged in the 2024 revision.

The register has no figures for the years 2002 and 2003 for this street. Therefore, the most recent revisions show that the guideline value has remained stable at Rs 800 per sq.ft from 2023 to 2024, indicating no change during this period.

Guideline values in Karanaipuducheri

In Karanaipuducheri, there are 108 streets under the Gooduvancheri SRO, with guideline values ranging from Rs 400 to Rs 2,239 per sq.ft. The median value for these streets is Rs 802 per sq.ft, placing Lalitha Nagar's 2024 guideline value below that median.

• Lingam Nagar: Rs 800 per sq.ft (2024)
• Lingam Nagar Extn: Rs 800 per sq.ft (2024)
• Lakshmi Nagar: Rs 701 per sq.ft (2024)
• Lakshmi Ganapathy Nagar: Rs 1,200 per sq.ft (2024)
• Mahalakshmi Nagar: Rs 800 per sq.ft (2024)
• Mahalakshmi Nagar Extn: Rs 800 per sq.ft (2024)

Stamp duty and registration fee for property in Lalitha Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 800 per sq.ft, the total guideline value would be Rs 8,00,000. The stamp duty at 7% would amount to Rs 56,000, and the registration fee at 2% would be Rs 16,000, bringing the total cost to Rs 72,000. 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 Lalitha Nagar?

The Lalitha Nagar area is covered by the Gooduvancheri Sub Registrar Office, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvancheri-603202, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor during the registration of property transactions in Karanaipuducheri. It serves as a benchmark to determine the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, the guideline value helps in establishing a fair price for the transaction. Buyers and sellers must consider this value to ensure compliance with local regulations and to avoid any legal issues during the registration process.

Frequently asked questions

What is the current guideline value of Lalitha Nagar?

The current guideline value of Lalitha Nagar is Rs 800 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed several times, with a notable increase from Rs 155 per sq.ft in 2007 to Rs 800 per sq.ft in 2012, followed by fluctuations in subsequent years.

What is the land classification for Lalitha Nagar?

Lalitha Nagar is classified as Residential Class I Type - II, which indicates its suitability for residential development.

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

For a property valued at Rs 8,00,000, the stamp duty would be Rs 56,000 and the registration fee would be Rs 16,000, totaling Rs 72,000.

Which office handles property registrations in Lalitha Nagar?

The Gooduvancheri Sub Registrar Office handles property registrations for Lalitha Nagar, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvancheri-603202.