Guideline Value for LAKSHMANAN NAGAR HIGHWAY SALAI

Lakshmanan Nagar Highway Salai guideline value

The current guideline value of Lakshmanan Nagar Highway Salai is Rs 1,940 per sq.ft, effective from 1 July 2024. This street is located in Thirusulam village under the Pallavaram SRO, classified as Residential Class II Type - I.

How the guideline value of Lakshmanan Nagar Highway Salai has changed

The guideline value for Lakshmanan Nagar Highway Salai has undergone several revisions over the years. The earliest recorded value is from 2012, which was Rs 1,800 per sq.ft. This figure remained unchanged until the 2017 revision, where it decreased to Rs 1,206 per sq.ft. Following this, the value increased significantly to Rs 1,800 per sq.ft in 2023, and then further rose to Rs 1,940 per sq.ft in 2024, marking an 8% increase from the previous year.

From 2017 to 2023, there was a notable increase of 49%. Overall, from 2012 to 2024, the guideline value has increased by 8%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Thirusulam

In Thirusulam, there are 74 streets under the Pallavaram SRO that carry a 2024 guideline value, ranging from Rs 1,080 to Rs 2,750 per sq.ft. The median value is Rs 1,940 per sq.ft, which is equal to the 2024 figure for Lakshmanan Nagar Highway Salai.

• Lakshmanan Nagar 1 To 10 Streets: Rs 2,200 per sq.ft (2024)
• Kumaran Street: Rs 2,200 per sq.ft (2024)
• Madras Dock Labour Colony: Rs 2,200 per sq.ft (2024)
• Kodi Malar Street: Rs 2,200 per sq.ft (2024)
• Kennady Veli Main Salai: Rs 1,940 per sq.ft (2024)
• Kennady Valley 1 to 3 Cross Streets: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Lakshmanan Nagar Highway Salai

For a 1,000 sq.ft plot at the current guideline value of Rs 1,940 per sq.ft, the total guideline value amounts to Rs 19,40,000. The stamp duty at 7% would be Rs 1,35,800, and the registration fee at 2% would be Rs 38,800, bringing the total fees together to Rs 1,74,600. 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 information.

Which Sub Registrar Office covers Lakshmanan Nagar Highway Salai?

The Sub Registrar Office that covers Lakshmanan Nagar Highway Salai is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value is a critical factor when registering a property in Thirusulam. It helps determine the stamp duty and registration fees, which are calculated based on the guideline value or the sale price, whichever is higher. This ensures that the government receives appropriate revenue from property transactions.

When buying or selling a property, it is essential to be aware of the current guideline value to avoid any discrepancies during the registration process. Buyers should ensure that they are informed of the latest revisions to understand the financial implications of their transactions.

Frequently asked questions

What is the current guideline value of Lakshmanan Nagar Highway Salai?

The current guideline value of Lakshmanan Nagar Highway Salai is Rs 1,940 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,800 per sq.ft in 2012 to Rs 1,206 per sq.ft in 2017, then increased to Rs 1,800 per sq.ft in 2023, and finally to Rs 1,940 per sq.ft in 2024.

What is the land classification for Lakshmanan Nagar Highway Salai?

Lakshmanan Nagar Highway Salai is classified as Residential Class II Type - I.

Where can I find the registration office for properties in Thirusulam?

The registration office for properties in Thirusulam is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044.

How do I calculate stamp duty and registration fees?

Stamp duty is calculated at 7% of the guideline value or sale price, whichever is higher, while the registration fee is 2% of the same. For example, for a 1,000 sq.ft plot at Rs 1,940 per sq.ft, the total fees would amount to Rs 1,74,600.