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

Kamarajar St, Lakshmipuram (Ward-25) guideline value

The current guideline value of Kamarajar St, Lakshmipuram (Ward-25) is Rs 1,600 per sq.ft, effective from the 2024 revision. 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 Kamarajar St, Lakshmipuram (Ward-25) has changed

The guideline value for Kamarajar St, Lakshmipuram has seen several revisions over the years. In the 2017 revision, the value was Rs 1,005 per sq.ft. This increased to Rs 1,500 per sq.ft in the 2023 revision, marking a significant rise of 49%. The most recent revision in 2024 set the value at Rs 1,600 per sq.ft, reflecting a change of 7% from the previous year. The register has no figure for the years 2002, 2003, 2007, and 2012.

Overall, from the 2017 revision to the 2024 revision, the guideline value has increased by 59%. This consistent upward trend highlights the growing value of properties within this locality.

Guideline values in Madhavaram

In Madhavaram, there are 1,946 streets under the Madhavaram SRO, with guideline values ranging from Rs 1,300 to Rs 7,500 per sq.ft. The median guideline value for these streets is Rs 1,600 per sq.ft, which aligns with the current value of Kamarajar St, Lakshmipuram (Ward-25).

• Kamarajar Road Cross Street (Periya Sekkadu): Rs 1,600 per sq.ft (2024)
• Kamarajar Street (Ward-1): Rs 1,600 per sq.ft (2024)
• Kamarajar Street (Ward-16): Rs 1,600 per sq.ft (2024)
• Kamarajar Street (Ward-25): Rs 1,600 per sq.ft (2024)
• Kamarajar Street (Ward-8): Rs 1,600 per sq.ft (2024)
• Kamarajar st ( Ward No.29 ): Rs 1,600 per sq.ft (2024)

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

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 and the sale price.

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

Which Sub Registrar Office covers Kamarajar St, Lakshmipuram (Ward-25)?

The Sub Registrar Office that covers Kamarajar 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 critical factor when registering property transactions in Madhavaram. It serves as the basis for calculating stamp duty and registration fees, ensuring that the government receives the appropriate revenue from property transactions.

When a buyer or seller engages in a property transaction, the guideline value helps to determine the official value of the property, which must be declared during registration. This ensures transparency and accountability in real estate dealings.

Frequently asked questions

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

The current guideline value of Kamarajar St, Lakshmipuram (Ward-25) is Rs 1,600 per sq.ft, effective from July 1, 2024.

How much has the guideline value changed over the years?

The guideline value has increased from Rs 1,005 per sq.ft in 2017 to Rs 1,600 per sq.ft in 2024, which is a total increase of 59% over this period.

What are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 16,00,000, the stamp duty would be Rs 1,12,000, and the registration fee would be Rs 32,000, totaling Rs 1,44,000.

Which office do I need to visit for property registration?

The Madhavaram Sub Registrar Office is responsible for property registrations in Kamarajar St, Lakshmipuram (Ward-25), located at No.7, Roja Nagar, Madhavaram, Chennai-600060.

What is the land classification for Kamarajar St, Lakshmipuram (Ward-25)?

Kamarajar St, Lakshmipuram (Ward-25) is classified as Residential Class II Type - I, indicating its suitability for residential development.