Guideline Value for Amman Koil Street (Lakshmipuram) (Ward-27)

Amman Koil Street (Lakshmipuram) (Ward-27) guideline value

The current guideline value of Amman Koil Street (Lakshmipuram) (Ward-27) is Rs 1,600 per sq.ft, effective from 1 July 2024. This street is located in Madhavaram village, under the Madhavaram SRO, and is classified as Residential Class II Type - I.

How the guideline value of Amman Koil Street (Lakshmipuram) (Ward-27) has changed

The guideline value for Amman Koil Street (Lakshmipuram) has seen several revisions over the years. In 2012, the guideline value was Rs 1,500 per sq.ft. This value decreased to Rs 1,005 per sq.ft in the 2017 revision, marking a decline of 33%. However, from 2017 to 2023, the value increased significantly to Rs 1,500 per sq.ft, representing a rise of 49%. The most recent revision in 2024 set the guideline value at Rs 1,600 per sq.ft, which is an increase of 7% from the previous year.

It is important to note that the register has no figures for the years 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has increased by 7%.

Guideline values in Madhavaram

In Madhavaram village, there are 1,946 streets under the Madhavaram SRO that carry a 2024 guideline value, ranging from Rs 1,300 to Rs 7,500 per sq.ft. The median guideline value is Rs 1,600 per sq.ft, which is equal to the 2024 figure for Amman Koil Street (Lakshmipuram).

• Amman Koil st ( Ward No.23 ): Rs 1,600 per sq.ft (2024)
• Amman Koil st ( Ward No.29 ): Rs 1,600 per sq.ft (2024)
• Ambujammal Street (Ward-22): Rs 1,600 per sq.ft (2024)
• Ambujamaal St (Ponniamman Medu) (Ward-22): Rs 1,600 per sq.ft (2024)
• Ambethkar Nagar (Ward-13): Rs 1,300 per sq.ft (2024)
• Ambedkhar 6th St 6th Sub Division (Ward 13): Rs 1,300 per sq.ft (2024)

Stamp duty and registration fee for property in Amman Koil Street (Lakshmipuram) (Ward-27)

For a 1,000 sq.ft plot at the current guideline value of Rs 1,600 per sq.ft, the total guideline value would be Rs 16,00,000. The stamp duty at 7% would amount to Rs 1,12,000, and the registration fee at 2% would be Rs 32,000, bringing the total to Rs 1,44,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use the stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Amman Koil Street (Lakshmipuram) (Ward-27)?

The Sub Registrar Office that covers Amman Koil Street (Lakshmipuram) (Ward-27) is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Madhavaram. It determines the stamp duty and registration fees that must be paid, which are calculated based on the guideline value or the sale price, whichever is higher.

Understanding the guideline value helps buyers and sellers estimate the costs involved in property transactions. It is essential to refer to the latest revisions to ensure accurate calculations and compliance with local regulations.

Frequently asked questions

What is the current guideline value of Amman Koil Street (Lakshmipuram) (Ward-27)?

The current guideline value of Amman Koil Street (Lakshmipuram) (Ward-27) is Rs 1,600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,500 per sq.ft in 2012 to Rs 1,005 per sq.ft in 2017, then increased to Rs 1,500 per sq.ft in 2023, and finally to Rs 1,600 per sq.ft in 2024.

What is the land classification for Amman Koil Street (Lakshmipuram)?

Amman Koil Street (Lakshmipuram) is classified as Residential Class II Type - I.

What are the stamp duty and registration fees for property in Amman Koil Street (Lakshmipuram)?

For a 1,000 sq.ft plot, the total guideline value is Rs 16,00,000. The stamp duty at 7% would be Rs 1,12,000, and the registration fee at 2% would be Rs 32,000, totaling Rs 1,44,000.

Which office handles registrations for Amman Koil Street (Lakshmipuram)?

The Madhavaram Sub Registrar Office handles registrations for Amman Koil Street (Lakshmipuram), located at No.7, Roja Nagar, Madhavaram, Chennai-600060.