Guideline Value for LookMan Nagar

LookMan Nagar guideline value

The current guideline value of LookMan Nagar, located in Karasangal village, is Rs 250 per sq.ft, effective from 1 July 2024. This area falls under the Sriperumpudur SRO and is classified as Residential Class II Type - I.

How the guideline value of LookMan Nagar has changed

Looking at the revisions, the guideline value for LookMan Nagar was Rs 250 per sq.ft in both the 2023 and 2024 revisions, indicating no change between these years. The previous revision in 2017 recorded a value of Rs 167 per sq.ft, showing a 50% increase from 2017 to 2023. In 2012, the value was Rs 250 per sq.ft, which represents a decrease of 33% from the 2012 figure to the 2017 figure.

Overall, from 2012 to 2024, the guideline value has remained unchanged at Rs 250 per sq.ft. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Karasangal

In Karasangal village, there are 59 streets under the Sriperumpudur SRO that carry a 2024 guideline value ranging from Rs 100 to Rs 3,550 per sq.ft. The median guideline value for these streets is Rs 402 per sq.ft, placing LookMan Nagar's 2024 figure below this median.

• Lakshmi Nagar: Rs 600 per sq.ft (2024)
• Lakshmana Narayana Perumal Koil Street: Rs 250 per sq.ft (2024)
• Malleeswara Koil Street: Rs 250 per sq.ft (2024)
• Manthaveli Amman Koil Street: Rs 250 per sq.ft (2024)
• M.G.R. Street: Rs 402 per sq.ft (2024)
• Modern Avenue: Rs 600 per sq.ft (2024)

Stamp duty and registration fee for property in LookMan Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 250 per sq.ft, the total guideline value would be Rs 2,50,000. The stamp duty at 7% would amount to Rs 17,500, and the registration fee at 2% would be Rs 5,000, bringing the total fees to Rs 22,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers LookMan Nagar?

The LookMan Nagar area is covered by the Sriperumpudur Sub Registrar Office, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone. To find your specific SRO, you can visit find your SRO.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Karasangal. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When a property transaction occurs, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties and fees. This process helps maintain transparency and accountability in property transactions within the region.

Frequently asked questions

What is the current guideline value of LookMan Nagar?

The current guideline value of LookMan Nagar is Rs 250 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value for LookMan Nagar has remained the same at Rs 250 per sq.ft from 2012 to 2024. It increased from Rs 167 per sq.ft in 2017 to Rs 250 per sq.ft in 2023, and there was no change from 2023 to 2024.

What is the land classification for LookMan Nagar?

LookMan Nagar is classified as Residential Class II Type - I, indicating its designation for residential purposes.

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

The Sub Registrar Office covering LookMan Nagar is located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone.

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

For a property valued at Rs 2,50,000, the stamp duty would be Rs 17,500, and the registration fee would be Rs 5,000, totaling Rs 22,500. These fees are based on the guideline value or the sale price, whichever is higher.