Guideline Value for LAKSHMANAN STREET

Lakshmanan Street guideline value

The current guideline value of Lakshmanan Street is Rs 825 per sq.ft, effective from 1 July 2024. This street is located in Tiruttani village, under the Thiruttani SRO, and is classified as Residential Class III Type - I.

How the guideline value of Lakshmanan Street has changed

In the 2017 revision, the guideline value was Rs 502 per sq.ft. This figure increased significantly to Rs 750 per sq.ft in the 2023 revision, marking a 49% rise. The most recent revision in 2024 saw the guideline value increase further to Rs 825 per sq.ft, which is a 10% increase from the previous year.

The register has no figures for Lakshmanan Street for the years 2002, 2003, 2007, and 2012. Overall, from 2017 to 2024, the guideline value has increased by 64%.

Guideline values in Tiruttani

In Tiruttani, there are 160 streets under the Thiruttani SRO that carry a 2024 guideline value ranging from Rs 548 to Rs 1,540 per sq.ft. The median value is Rs 825 per sq.ft, which is equal to the 2024 figure for Lakshmanan Street.

• Kurunji Nagar: Rs 1,540 per sq.ft (2024)
• Kumara Kuppam 4th Street: Rs 550 per sq.ft (2024)
• Kumara Kuppam 3rd Street: Rs 550 per sq.ft (2024)
• Kumara Kuppam 2nd Street: Rs 550 per sq.ft (2024)
• Kumara Kuppam 1st Street: Rs 550 per sq.ft (2024)
• Kumarakupamcolony: Rs 550 per sq.ft (2024)

Stamp duty and registration fee for property in Lakshmanan Street

For a 1,000 sq.ft plot at the current guideline value of Rs 825 per sq.ft, the total guideline value would be Rs 8,25,000. The stamp duty at 7% would amount to Rs 57,750, and the registration fee at 2% would be Rs 16,500, making the total cost for these fees Rs 74,250. It is important to note that the 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 Lakshmanan Street?

The Sub Registrar Office that covers Lakshmanan Street is the Thiruttani Sub Registrar Office, located at No.31, Old Taluk Office Compound, Kacheri Street Opposite, Gandhi Road Main, Thiruttani-631 209, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions in Tiruttani, as it determines the minimum value at which a property can be registered. It is used to calculate the stamp duty and registration fees that need to be paid at the time of registration.

When buying or selling property, the guideline value serves as a reference point for both parties involved in the transaction. It ensures that the registration process is transparent and that the appropriate taxes are collected by the government.

Frequently asked questions

What is the current guideline value of Lakshmanan Street?

The current guideline value of Lakshmanan Street is Rs 825 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed since 2017?

Since the 2017 revision, the guideline value has increased by 64%, from Rs 502 per sq.ft to Rs 825 per sq.ft in 2024.

What was the guideline value in 2023?

The guideline value for Lakshmanan Street in 2023 was Rs 750 per sq.ft.

Which office handles property registrations for Lakshmanan Street?

The Thiruttani Sub Registrar Office handles property registrations for Lakshmanan Street, located at No.31, Old Taluk Office Compound, Kacheri Street Opposite, Gandhi Road Main, Thiruttani-631 209, Chennai registration zone.

How is the stamp duty calculated for properties in Tiruttani?

Stamp duty for properties in Tiruttani is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property with a guideline value of Rs 8,25,000, the stamp duty at 7% would be Rs 57,750.