Guideline Value for Dr. Lakshmanasamy Salai

Dr. Lakshmanasamy Salai guideline value

The current guideline value of Dr. Lakshmanasamy Salai is Rs 8,800 per sq.ft, effective from 1 July 2024. This street is located in Kodambakkam village under the Ashok Nagar SRO, classified as Mixed Type - I.

How the guideline value of Dr. Lakshmanasamy Salai has changed

The guideline value for Dr. Lakshmanasamy Salai has undergone several revisions over the years. In 2007, the guideline value was Rs 1,460 per sq.ft, which increased significantly to Rs 8,000 per sq.ft in 2012. However, it then decreased to Rs 5,360 per sq.ft in 2017. The value saw a substantial increase again, reaching Rs 8,000 per sq.ft in 2023, and finally, it has been revised to Rs 8,800 per sq.ft in 2024.

Between these revisions, the changes were notable. From 2007 to 2012, there was an increase of 448%, followed by a decrease of 33% from 2012 to 2017. The value then increased by 49% from 2017 to 2023, and finally, a 10% increase from 2023 to 2024. The overall change from 2007 to 2024 stands at an increase of 503%. The guideline register has no figures for the years 2002 and 2003 for this street.

Guideline values in Kodambakkam

In Kodambakkam, there are 1,031 streets under the Ashok Nagar SRO, with guideline values ranging from Rs 2,200 to Rs 11,000 per sq.ft. The median guideline value for these streets is Rs 4,900 per sq.ft, indicating that the 2024 guideline value of Dr. Lakshmanasamy Salai is above this median.

• Dr. Kannu Nagar N.S.C. Bose Street: Rs 2,200 per sq.ft (2024)
• Dr. Kannu Nagar Main road (N.P): Rs 3,300 per sq.ft (2024)
• Dr. Kannu Nagar 10th Kamarajar Street: Rs 2,200 per sq.ft (2024)
• Dr. Kalaingnar Street (M.G.R.Nagar): Rs 3,300 per sq.ft (2024)
• Dr. Natesan Salai: Rs 7,700 per sq.ft (2024)
• Dr. P.T. Rajan Salai: Rs 9,900 per sq.ft (2024)

Stamp duty and registration fee for property in Dr. Lakshmanasamy Salai

For a 1,000 sq.ft plot at the current guideline value of Rs 8,800 per sq.ft, the total guideline value amounts to Rs 88,00,000. The stamp duty at 7% would be Rs 6,16,000, and the registration fee at 2% would be Rs 1,76,000, bringing the total charges to Rs 7,92,000. It is important to note that duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Dr. Lakshmanasamy Salai?

The Sub Registrar Office that covers Dr. Lakshmanasamy Salai is the Ashok Nagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office. You can find your SRO for further assistance.

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

The guideline value is a crucial factor in the property registration process in Kodambakkam. It determines the minimum value at which a property can be registered, ensuring that the government receives appropriate stamp duty and registration fees based on this value.

When buying or selling property, it is essential to consider the guideline value as it impacts the overall costs involved in the transaction. Buyers should be aware that the stamp duty and registration fees will be calculated based on the higher of the guideline value or the sale price, which can significantly affect the total expenditure.

Frequently asked questions

What is the current guideline value of Dr. Lakshmanasamy Salai?

The current guideline value of Dr. Lakshmanasamy Salai is Rs 8,800 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,460 per sq.ft in 2007 to Rs 8,800 per sq.ft in 2024, reflecting an overall increase of 503% over the years.

What is the land classification for Dr. Lakshmanasamy Salai?

Dr. Lakshmanasamy Salai is classified as Mixed Type - I, which indicates the type of development allowed in the area.

Where can I find the Sub Registrar Office for Dr. Lakshmanasamy Salai?

The Sub Registrar Office for Dr. Lakshmanasamy Salai is the Ashok Nagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.

How is stamp duty calculated for property transactions in Kodambakkam?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, if the guideline value is Rs 8,800 per sq.ft, the stamp duty would be calculated accordingly during registration.