Guideline Value for Lavakusa Nagar

Lavakusa Nagar guideline value

The current guideline value of Lavakusa Nagar, located in Perumattu Nellore village under the Chengleput Joint II SRO, is Rs 500 per sq.ft, effective from 1 July 2024. This area is classified as Residential Class I Type - I.

How the guideline value of Lavakusa Nagar has changed

The guideline value for Lavakusa Nagar has undergone several revisions over the years. In 2007, the guideline value was Rs 50 per sq.ft, which increased significantly to Rs 500 per sq.ft in 2012, marking a 900% rise. However, from 2012 to 2017, the value decreased by 33% to Rs 335 per sq.ft. The subsequent revision in 2023 maintained the value at Rs 500 per sq.ft, which remained unchanged in the 2024 revision.

From 2017 to 2023, the guideline value increased by 49%. Overall, from 2007 to 2024, the guideline value has risen by 900%. The register does not contain figures for the years 2002 and 2003 for this street.

Guideline values in Perumattu Nellore

In Perumattu Nellore, there are 83 streets under the Chengleput Joint II SRO that carry a 2024 guideline value ranging from Rs 500 to Rs 2,850 per sq.ft, with a median value of Rs 700 per sq.ft. The guideline value for Lavakusa Nagar is below this median.

• Lakshmi Puram: Rs 800 per sq.ft (2024)
• L.S.S. Anandham Avenue: Rs 500 per sq.ft (2024)
• Lss Vijay Avenue: Rs 800 per sq.ft (2024)
• Lakshmi Nagar: Rs 800 per sq.ft (2024)
• Madras Garden: Rs 500 per sq.ft (2024)
• Manickam Nagar: Rs 700 per sq.ft (2024)

Stamp duty and registration fee for property in Lavakusa Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 500 per sq.ft, the total guideline value amounts to Rs 5,00,000. The stamp duty at 7% would be Rs 35,000, and the registration fee at 2% would be Rs 10,000, making the total cost for these fees Rs 45,000. It is important to 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 Lavakusa Nagar?

The Sub Registrar Office that covers Lavakusa Nagar is the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002, 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 Perumattu Nellore

The guideline value is a critical factor in the registration process when buying or selling property in Perumattu Nellore. It determines the minimum value at which property transactions are registered, ensuring that the government receives appropriate revenue from stamp duty and registration fees.

Frequently asked questions

What is the current guideline value of Lavakusa Nagar?

The current guideline value of Lavakusa Nagar is Rs 500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 50 per sq.ft in 2007 to Rs 500 per sq.ft in 2012, then decreased to Rs 335 per sq.ft in 2017, before returning to Rs 500 per sq.ft in 2023 and 2024.

What is the median guideline value in Perumattu Nellore?

The median guideline value in Perumattu Nellore is Rs 700 per sq.ft, with Lavakusa Nagar's value being below this median.

What are the registration fees for property in Lavakusa Nagar?

The registration fees include a stamp duty of 7% and a registration fee of 2% based on the guideline value or sale price, whichever is higher.

Where can I find the Sub Registrar Office for Lavakusa Nagar?

The Sub Registrar Office for Lavakusa Nagar is the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002.