Guideline Value for LAKSHMANAN 2ND (CROSS) STREET

Lakshmanan 2nd (Cross) Street guideline value

The current guideline value of Lakshmanan 2nd (Cross) Street is Rs 5,500 per sq.ft, effective from 1 July 2024. This street is located in Perungudi village, under the Neelankarai SRO. The land classification for this area is Residential Special Type - IV.

How the guideline value of Lakshmanan 2nd (Cross) Street has changed

The guideline value for Lakshmanan 2nd (Cross) Street has seen significant changes over the years. In 2002, the guideline value was Rs 264 per sq.ft, which increased to Rs 600 per sq.ft in 2003, marking a rise of 127%. Following this, the value surged to Rs 2,500 per sq.ft in 2007, reflecting a dramatic increase of 317%. The value then reached Rs 5,000 per sq.ft in 2012, which was a 100% increase from the previous revision. However, it decreased to Rs 3,350 per sq.ft in 2017, representing a decline of 33%.

In 2023, the guideline value rose to Rs 5,000 per sq.ft, and subsequently increased to Rs 5,500 per sq.ft in 2024, showing a growth of 10%. Overall, from 2002 to 2024, the guideline value has increased by 1983%.

Guideline values in Perungudi

In Perungudi, there are 249 streets under the Neelankarai SRO with a 2024 guideline value ranging from Rs 1,100 to Rs 8,800 per sq.ft. The median value for these streets is Rs 3,300 per sq.ft, placing Lakshmanan 2nd (Cross) Street above this median.

• Lakshmanan 1st (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 2nd (Cross) Street

For a 1,000 sq.ft plot at the current rate of Rs 5,500 per sq.ft, the guideline value amounts to Rs 55,00,000. The stamp duty at 7% would be Rs 3,85,000, while the registration fee at 2% would be Rs 1,10,000, totaling Rs 4,95,000. 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 Lakshmanan 2nd (Cross) Street?

The Sub Registrar Office that covers Lakshmanan 2nd (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 buying or selling property in Perungudi. It serves as a reference point for determining the value of the property during registration. This value is used to calculate the stamp duty and registration fees that need to be paid at the time of the transaction.

When you register a property, the guideline value helps ensure that the transaction is recorded accurately. It is essential for both buyers and sellers to be aware of the guideline value to understand the financial implications of their property transactions.

Frequently asked questions

What is the current guideline value of Lakshmanan 2nd (Cross) Street?

The current guideline value of Lakshmanan 2nd (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 significantly from Rs 264 per sq.ft in 2002 to Rs 5,500 per sq.ft in 2024, reflecting an overall increase of 1983% over this period.

What is the land classification for Lakshmanan 2nd (Cross) Street?

The land classification for Lakshmanan 2nd (Cross) Street is Residential Special Type - IV.

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

The Sub Registrar Office for Lakshmanan 2nd (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 properties in this area?

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