Guideline Value for LAKSHMI AMMAN KOVIL STREET

Lakshmi Amman Kovil Street guideline value

The current guideline value of Lakshmi Amman Kovil Street is Rs 300 per sq.ft, effective from 1 July 2024. This street is located in Chinnakavanam village and falls under the Ponneri SRO. The land classification for this area is Residential Class II Type - I.

How the guideline value of Lakshmi Amman Kovil Street has changed

In the 2012 revision, the guideline value was set at Rs 200 per sq.ft. This figure increased to Rs 134 per sq.ft in the 2017 revision, marking a decrease of 33%. However, from 2017 to 2023, the value rose significantly to Rs 300 per sq.ft, reflecting an increase of 124%. The 2023 revision maintained the same rate of Rs 300 per sq.ft, which will also apply in the upcoming 2024 revision.

Overall, the guideline value has increased by 50% from Rs 200 per sq.ft in 2012 to Rs 300 per sq.ft in 2024. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Chinnakavanam

In Chinnakavanam, there are 28 streets under the Ponneri SRO that carry a 2024 guideline value ranging from Rs 300 to Rs 400 per sq.ft. The median guideline value for these streets is Rs 300 per sq.ft, which is the same as the 2024 figure for Lakshmi Amman Kovil Street.

• Meenakshi Nagar: Rs 300 per sq.ft (2024)
• Nallur Amman Kovil Street: Rs 300 per sq.ft (2024)
• Jayamani Nagar: Rs 300 per sq.ft (2024)
• Nethaji Nagar: Rs 300 per sq.ft (2024)
• G.L.S. Nagar: Rs 300 per sq.ft (2024)
• Pazaverkadu Salai: Rs 300 per sq.ft (2024)

Stamp duty and registration fee for property in Lakshmi Amman Kovil Street

For a 1,000 sq.ft plot at the current guideline value of Rs 300 per sq.ft, the total guideline value would be Rs 3,00,000. The stamp duty at 7% would amount to Rs 21,000, and the registration fee at 2% would be Rs 6,000, bringing the total to Rs 27,000. 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 details.

Which Sub Registrar Office covers Lakshmi Amman Kovil Street?

The Sub Registrar Office that covers Lakshmi Amman Kovil Street is the Ponneri Sub Registrar Office, located at 9/5, Taluk Office Road, Ponneri, Chennai-601204. You can find your SRO for more information.

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

The guideline value is a crucial factor during the registration of property transactions in Chinnakavanam. It serves as the minimum value on which stamp duty and registration fees are calculated, ensuring that the government receives appropriate revenue from property sales.

When buying or selling property, the guideline value helps in determining the official value of the property, which can influence the transaction process. Buyers and sellers should be aware of the guideline value to ensure compliance with local regulations during property transactions.

Frequently asked questions

What is the current guideline value of Lakshmi Amman Kovil Street?

The current guideline value of Lakshmi Amman Kovil Street is Rs 300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 200 per sq.ft in 2012 to Rs 300 per sq.ft in 2024, with a notable increase of 124% from 2017 to 2023.

What is the land classification of Lakshmi Amman Kovil Street?

The land classification for Lakshmi Amman Kovil Street is Residential Class II Type - I.

Where can I find the Sub Registrar Office for Lakshmi Amman Kovil Street?

The Sub Registrar Office for Lakshmi Amman Kovil Street is located at 9/5, Taluk Office Road, Ponneri, Chennai-601204.

How is stamp duty calculated for properties in Lakshmi Amman Kovil Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, a property valued at Rs 3,00,000 would incur a stamp duty of Rs 21,000 at a rate of 7%.