Guideline Value for lakshmi nagar

Lakshmi Nagar guideline value

The current guideline value of Lakshmi Nagar, located in Poonthamallee village under the Poonamallee SRO, is Rs 2,200 per sq.ft, effective from 1 July 2024. The land classification for this area is Residential Class II Type - I.

How the guideline value of Lakshmi Nagar has changed

Over the years, the guideline value of Lakshmi Nagar has seen significant changes. In 2007, the value was Rs 200 per sq.ft, which increased dramatically to Rs 2,000 per sq.ft in 2012, marking a rise of 900%. However, the value decreased to Rs 1,340 per sq.ft in 2017, a drop of 33%. The 2023 revision saw an increase to Rs 2,000 per sq.ft, followed by a further rise to Rs 2,200 per sq.ft in 2024, which is a 10% increase.

From 2017 to 2023, the guideline value increased by 49%. Overall, from 2007 to 2024, the guideline value has risen by 1000%. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Poonthamallee

Poonthamallee village has 257 streets under the Poonamallee SRO, with the 2024 guideline values ranging from Rs 1,980 to Rs 4,950 per sq.ft. The median value is Rs 2,200 per sq.ft, which is equal to the current guideline value of Lakshmi Nagar.

• Lakshmi nagar 447: Rs 1,980 per sq.ft (2024)
• Lakshmi nagar 567,566,643,967: Rs 1,980 per sq.ft (2024)
• Lakshmipuram: Rs 3,250 per sq.ft (2024)
• Kundrathoor Road Door No 1st To 19: Rs 2,740 per sq.ft (2024)
• Kundrathoor Road 24 To 130: Rs 2,740 per sq.ft (2024)
• Kundrathoor road: Rs 2,740 per sq.ft (2024)

Stamp duty and registration fee for property in Lakshmi Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value would be Rs 22,00,000. The stamp duty at 7% would amount to Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, bringing the total to Rs 1,98,000. 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 Lakshmi Nagar?

The Sub Registrar Office that covers Lakshmi Nagar is the Poonamallee Sub Registrar Office, located at No.332 U + 9cc Malma Nagar Poonamallee Chennai - 600056. You can find your SRO for more information.

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

The guideline value is a crucial factor when buying or selling property in Poonthamallee. It determines the minimum value at which properties can be registered, ensuring that transactions are conducted at a fair value as per the government regulations.

When a property is sold, the guideline value is used to calculate the stamp duty and registration fees, which are mandatory for the legal transfer of property ownership. Buyers should be aware of the current guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Lakshmi Nagar?

The current guideline value of Lakshmi Nagar is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Since 2007, the guideline value has increased significantly, from Rs 200 per sq.ft to Rs 2,200 per sq.ft in 2024, reflecting a total rise of 1000% over the years.

What are the other guideline values in Poonthamallee?

The guideline values in Poonthamallee range from Rs 1,980 to Rs 4,950 per sq.ft, with Lakshmi Nagar's value being equal to the median of Rs 2,200 per sq.ft.

What fees are associated with buying property in Lakshmi Nagar?

When buying property in Lakshmi Nagar, buyers should expect to pay stamp duty at 7% and a registration fee at 2% of the guideline value or sale price, whichever is higher.

Where is the Sub Registrar Office for Lakshmi Nagar located?

The Sub Registrar Office for Lakshmi Nagar is located at No.332 U + 9cc Malma Nagar Poonamallee Chennai - 600056.