Guideline Value for LAKSHMANAN 1ST (CROSS) STREET

Lakshmanan 1st (Cross) Street guideline value

The current guideline value of Lakshmanan 1st (Cross) Street is Rs 5,500 per sq.ft, effective from 1 July 2024. This street is located in Perungudi village and falls under the Neelankarai SRO. The land classification for this area is Residential Special Type - IV.

How the guideline value of Lakshmanan 1st (Cross) Street has changed

The guideline value for Lakshmanan 1st (Cross) Street has seen several revisions over the years. In 2002, the value was Rs 264 per sq.ft, which increased to Rs 600 per sq.ft in 2003, marking a significant rise of 127%. By 2007, the value had further increased to Rs 2,500 per sq.ft, reflecting a 317% change from the previous revision. In 2012, the value was Rs 5,000 per sq.ft, which was a 100% increase from 2007. However, in 2017, the value dropped to Rs 3,350 per sq.ft, a decrease of 33%. The value then rose to Rs 5,000 per sq.ft in 2023, followed by a final increase to Rs 5,500 per sq.ft in 2024, which is a 10% rise.

Overall, from 2002 to 2024, the guideline value has increased by 1983%. There are no figures available for the revisions of this street for any years other than those mentioned.

Guideline values in Perungudi

In Perungudi, there are 249 streets under the Neelankarai SRO that carry a 2024 guideline value, ranging from Rs 1,100 to Rs 8,800 per sq.ft. The median value is Rs 3,300 per sq.ft, making the 2024 figure for Lakshmanan 1st (Cross) Street above that median.

• Lakshmanan 2nd (Cross) Street: Rs 5,500 per sq.ft (2024)
• Lakshmana Nagar C.B.I.Colony: Rs 5,500 per sq.ft (2024)
• Lakshmanan Nagar & Main Road: Rs 5,500 per sq.ft (2024)
• Kurunchi Nagar 9th Cross Street: Rs 3,300 per sq.ft (2024)
• Kurunchi Nagar 8th Cross Street: Rs 3,300 per sq.ft (2024)
• Kurunchi Nagar 7th Cross Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Lakshmanan 1st (Cross) Street

For a 1,000 sq.ft plot at the current guideline value of Rs 5,500 per sq.ft, the total guideline value would be Rs 55,00,000. The stamp duty at 7% would amount to Rs 3,85,000, and the registration fee at 2% would be Rs 1,10,000, making a total of Rs 4,95,000. It is important to note that duty is charged on the higher of the guideline value and the sale price.

For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Lakshmanan 1st (Cross) Street?

The Sub Registrar Office that covers Lakshmanan 1st (Cross) Street is the Neelankarai Sub Registrar Office, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor when registering property transactions in Perungudi. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transfer of property ownership.

Frequently asked questions

What is the current guideline value of Lakshmanan 1st (Cross) Street?

The current guideline value of Lakshmanan 1st (Cross) Street is Rs 5,500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 264 per sq.ft in 2002 to Rs 5,500 per sq.ft in 2024, reflecting an overall increase of 1983% over the years.

What is the land classification for Lakshmanan 1st (Cross) Street?

The land classification for Lakshmanan 1st (Cross) Street is Residential Special Type - IV.

Where can I find the Sub Registrar Office for this street?

The Sub Registrar Office for Lakshmanan 1st (Cross) Street is the Neelankarai Sub Registrar Office, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.

How is the stamp duty calculated for property transactions?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, for a property valued at Rs 55,00,000, the stamp duty would be Rs 3,85,000 at a rate of 7%.