Guideline Value for LAKSHMI AVENUE

Lakshmi Avenue guideline value

The current guideline value of Lakshmi Avenue is Rs 400 per sq.ft, effective from 1 July 2024. This street is located in Thachoor village under the Ponneri SRO, classified as Residential Class II Type - I.

How the guideline value of Lakshmi Avenue has changed

The guideline value for Lakshmi Avenue has seen several revisions over the years. The 2012 revision set the value at Rs 400 per sq.ft, which remained unchanged until the 2023 revision, also at Rs 400 per sq.ft. The 2017 revision marked a significant change, reducing the value to Rs 268 per sq.ft, which was a decrease of 33% from the 2012 figure. Following this, the value increased by 49% to Rs 400 per sq.ft in the 2023 revision, and it has remained the same in the 2024 revision, showing no change from the previous year.

It is important to note that there are no figures available for the revisions in 2002, 2003, and 2007 for Lakshmi Avenue. Overall, comparing the 2012 and 2024 revisions, the guideline value has remained the same at Rs 400 per sq.ft.

Guideline values in Thachoor

In Thachoor, there are 17 streets under the Ponneri SRO that have a 2024 guideline value ranging from Rs 300 to Rs 1,800 per sq.ft. The median value among these streets is Rs 400 per sq.ft, which is the same as the guideline value for Lakshmi Avenue.

• K.N.R.Nagar: Rs 400 per sq.ft (2024)
• Chellammal Garden: Rs 300 per sq.ft (2024)
• R.C.Modern City: Rs 400 per sq.ft (2024)
• Sai Kannan Homes: Rs 300 per sq.ft (2024)
• Sakthi Sai Nagar Phase II: Rs 400 per sq.ft (2024)
• Sith Krishna Nagar: Rs 400 per sq.ft (2024)

Stamp duty and registration fee for property in Lakshmi Avenue

For a 1,000 sq.ft plot at the current guideline value of Rs 400 per sq.ft, the total guideline value amounts to Rs 4,00,000. The stamp duty at 7% would be Rs 28,000, and the registration fee at 2% would be Rs 8,000, bringing the total fees to Rs 36,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can also use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Lakshmi Avenue?

The Sub Registrar Office that covers Lakshmi Avenue 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 Thachoor

The guideline value plays a crucial role during property registration in Thachoor. It is used to determine the stamp duty and registration fees that need to be paid when a property is bought or sold. Buyers and sellers should be aware that these costs are based on the guideline value or the sale price, whichever is higher.

When engaging in a property transaction, it is essential to understand that the guideline value is set by the Registration Department and reflects the minimum value for registration purposes. This ensures that all transactions are recorded at a value that is recognized by the government.

Frequently asked questions

What is the current guideline value of Lakshmi Avenue?

The current guideline value of Lakshmi Avenue is Rs 400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 400 per sq.ft in 2012 to Rs 268 per sq.ft in 2017, then back to Rs 400 per sq.ft in 2023 and 2024, showing a 49% increase from 2017 to 2023.

What is the land classification for Lakshmi Avenue?

Lakshmi Avenue is classified as Residential Class II Type - I under the Ponneri SRO.

What are the stamp duty and registration fees for property in Lakshmi Avenue?

The stamp duty is 7% of the guideline value, and the registration fee is 2%. For a 1,000 sq.ft plot at Rs 400 per sq.ft, the total fees would amount to Rs 36,000.

Which office handles registrations for Lakshmi Avenue?

The Ponneri Sub Registrar Office handles registrations for Lakshmi Avenue, located at 9/5, Taluk Office Road, Ponneri, Chennai-601204.