Guideline Value for LAKSHMI AMMAN KOVIL STREET

Lakshmi Amman Kovil Street guideline value

The current guideline value of Lakshmi Amman Kovil Street is Rs 700 per sq.ft, effective from 1 July 2024. This street is located in Ponneri village, under the Ponneri SRO, and is classified as Residential Class II Type - I.

How the guideline value of Lakshmi Amman Kovil Street has changed

Over the years, the guideline value of Lakshmi Amman Kovil Street has seen several revisions. The 2012 revision set the value at Rs 500 per sq.ft, which increased to Rs 469 per sq.ft in 2017. The 2023 revision maintained the value at Rs 700 per sq.ft, and the 2024 revision also holds the same value of Rs 700 per sq.ft, indicating no change from the previous year. The register has no figures for the years 2002, 2003, and 2007.

From 2012 to 2017, there was a decrease of 6%, followed by a significant increase of 49% from 2017 to 2023. Overall, from 2012 to 2024, the guideline value has increased by 40%.

Guideline values in Ponneri

Ponneri village has a total of 120 streets under the Ponneri SRO, with guideline values ranging from Rs 201 to Rs 1,200 per sq.ft. The median value is Rs 700 per sq.ft, which is equal to the current guideline value of Lakshmi Amman Kovil Street.

• Lakshmi Amman Nagar: Rs 201 per sq.ft (2024)
• Lakshmi Nagar: Rs 700 per sq.ft (2024)
• Kumaran Streeet / N.G.O.Nagar: Rs 700 per sq.ft (2024)
• Kumaran Nagar: Rs 700 per sq.ft (2024)
• Krishnaswami Mudali Street: Rs 1,200 per sq.ft (2024)
• Madhina Palli Vasal: Rs 1,200 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 rate of Rs 700 per sq.ft, the guideline value amounts to Rs 7,00,000. The stamp duty at 7% would be Rs 49,000, and the registration fee at 2% would be Rs 14,000, totaling Rs 63,000. 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 information.

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 details.

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

The guideline value is a crucial factor when registering property transactions in Ponneri. It serves as a reference for determining the minimum value at which a property can be registered, ensuring that the transaction is documented at a fair value.

When buying or selling property, the guideline value helps in calculating the applicable stamp duty and registration fees, which are mandatory for legal ownership transfer. Buyers and sellers should be aware of these values to avoid any discrepancies during the registration process.

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 700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 500 per sq.ft in 2012 to Rs 469 per sq.ft in 2017, then to Rs 700 per sq.ft in both 2023 and 2024.

What is the land classification for Lakshmi Amman Kovil Street?

Lakshmi Amman Kovil Street is classified as Residential Class II Type - I.

Where can I find the Ponneri Sub Registrar Office?

The Ponneri Sub Registrar Office is located at 9/5, Taluk Office Road, Ponneri, Chennai-601204.

How is stamp duty calculated for properties in Ponneri?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, a property with a guideline value of Rs 7,00,000 would incur a stamp duty of Rs 49,000 at a rate of 7%.