Guideline Value for Kalaignar St, Lakshmipuram (Ward-25)

Kalaignar St, Lakshmipuram (Ward-25) guideline value

The current guideline value of Kalaignar St, Lakshmipuram (Ward-25) is Rs 1,300 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 III Type - I.

How the guideline value of Kalaignar St, Lakshmipuram (Ward-25) has changed

In the 2017 revision, the guideline value was set at Rs 804 per sq.ft. Following this, the 2024 revision saw a significant increase of 62%, bringing the guideline value to Rs 1,300 per sq.ft. The register has no figures for the years 2023, 2012, 2007, 2003, and 2002 for this street.

This change from 2017 to 2024 reflects a notable adjustment in property valuation. The increase indicates a shift in the guideline value, aligning it with the current market conditions in the area.

Guideline values in Madhavaram

In Madhavaram, 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, with a median value of Rs 1,600 per sq.ft. The guideline value of Kalaignar St, Lakshmipuram (Ward-25) is below this median.

• Kalaimagal Nagar Extension: Rs 1,300 per sq.ft (2024)
• Kalaimagal Nagar, Lakshmipuram (Ward-26): Rs 1,300 per sq.ft (2024)
• Kalaimagal Nagar (Ward No.26): Rs 1,300 per sq.ft (2024)
• Kadappah Road (Ward No.25): Rs 1,600 per sq.ft (2024)
• Kadappah Road, Lakshmipuram (Ward-25): Rs 1,300 per sq.ft (2024)
• Kalkotta Shop (Ward-13): Rs 1,600 per sq.ft (2024)

Stamp duty and registration fee for property in Kalaignar St, Lakshmipuram (Ward-25)

For a 1,000 sq.ft plot at the current guideline value of Rs 1,300 per sq.ft, the total guideline value amounts to Rs 13,00,000. The stamp duty at 7% would be Rs 91,000, and the registration fee at 2% would be Rs 26,000, bringing the total fees to Rs 1,17,000. 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 Kalaignar St, Lakshmipuram (Ward-25)?

The Sub Registrar Office that covers Kalaignar St, Lakshmipuram (Ward-25) 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 of property transactions in Madhavaram. It serves as a benchmark for determining the minimum price at which a property can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, the guideline value helps both buyers and sellers understand the official valuation of the property. This ensures transparency and aids in making informed decisions during the transaction process.

Frequently asked questions

What is the current guideline value of Kalaignar St, Lakshmipuram (Ward-25)?

The current guideline value of Kalaignar St, Lakshmipuram (Ward-25) is Rs 1,300 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed from 2017 to 2024?

The guideline value increased from Rs 804 per sq.ft in 2017 to Rs 1,300 per sq.ft in 2024, which is a change of 62%.

What is the land classification of Kalaignar St, Lakshmipuram (Ward-25)?

Kalaignar St, Lakshmipuram (Ward-25) is classified as Residential Class III Type - I.

What are the stamp duty and registration fees for a property on this street?

For a property valued at Rs 13,00,000, the stamp duty would be Rs 91,000, and the registration fee would be Rs 26,000, totaling Rs 1,17,000.

Which registration office covers this area?

The Madhavaram Sub Registrar Office covers Kalaignar St, Lakshmipuram (Ward-25), located at No.7, Roja Nagar, Madhavaram, Chennai-600060.