Guideline Value for Laxmi Nagar

Laxmi Nagar guideline value

The current guideline value of Laxmi Nagar, located in Perungalathur village under the Padappai SRO, is Rs 2,310 per sq.ft. This value is effective from 1 July 2024 and falls under the Residential Class II Type - I land classification.

How the guideline value of Laxmi Nagar has changed

The guideline value of Laxmi Nagar has seen several revisions over the years. In 2007, the value was Rs 200 per sq.ft, which increased significantly to Rs 2,100 per sq.ft in 2012, marking a remarkable rise of 950%. However, the value decreased to Rs 1,407 per sq.ft in 2017, a drop of 33%. The 2023 revision set the value at Rs 2,100 per sq.ft, which then increased by 10% to the current rate of Rs 2,310 per sq.ft in 2024.

From 2017 to 2023, the value increased by 49%. Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 1055%. It is important to note that there are no figures for the years 2002 and 2003 for this street.

Guideline values in Perungalathur

In Perungalathur, there are 411 streets under the Padappai SRO that carry a 2024 guideline value, ranging from Rs 1,320 to Rs 5,500 per sq.ft. The median value is Rs 2,310 per sq.ft, making Laxmi Nagar's 2024 figure equal to this median.

• Lal Bagadur Sashtri Street: Rs 2,310 per sq.ft (2024)
• Lime Light Avenue: Rs 2,310 per sq.ft (2024)
• Lime Light Avenue Phase II: Rs 2,640 per sq.ft (2024)
• Lingam Nagar-I: Rs 1,980 per sq.ft (2024)
• Lingam Nagar-II: Rs 1,980 per sq.ft (2024)
• L.M.J Garden: Rs 2,310 per sq.ft (2024)

Stamp duty and registration fee for property in Laxmi Nagar

For a 1,000 sq.ft plot at the current rate of Rs 2,310 per sq.ft, the guideline value totals Rs 23,10,000. The stamp duty at 7% amounts to Rs 1,61,700, and the registration fee at 2% is Rs 46,200, bringing the total to Rs 2,07,900. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Laxmi Nagar?

The Sub Registrar Office covering Laxmi Nagar is the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process of property transactions in Perungalathur. It is used to determine the stamp duty and registration fees that buyers must pay when purchasing property.

When selling property, the guideline value ensures that the transaction is documented at a value recognized by the Registration Department. This helps maintain transparency and consistency in property dealings within the area.

Frequently asked questions

What is the current guideline value of Laxmi Nagar?

The current guideline value of Laxmi Nagar is Rs 2,310 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 200 per sq.ft in 2007 to Rs 2,310 per sq.ft in 2024, reflecting an overall increase of 1055% over the years.

What is the registration office for Laxmi Nagar?

The registration office for Laxmi Nagar is the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone.

What are the stamp duty and registration fees for property in Laxmi Nagar?

For a property valued at Rs 23,10,000, the stamp duty is Rs 1,61,700 and the registration fee is Rs 46,200, totaling Rs 2,07,900.

What other streets have similar guideline values in Perungalathur?

Other streets in Perungalathur with similar guideline values include Lal Bagadur Sashtri Street, Lime Light Avenue, and L.M.J Garden, all at Rs 2,310 per sq.ft in 2024.