Guideline Value for LAKSHMI AVENUE

Lakshmi Avenue guideline value

The current guideline value of Lakshmi Avenue in Thachoor_2 village, under the Ponneri SRO, is Rs 400 per sq.ft. This value is effective from the 2024 revision, which began on 1 July 2024. The land classification for this area is Residential Class II Type - I.

How the guideline value of Lakshmi Avenue has changed

The guideline value of Lakshmi Avenue has undergone several revisions over the years. The earliest recorded revision available is from 2017, where the guideline value was Rs 268 per sq.ft. Following this, the guideline value saw a significant increase of 49% by the next revision in 2023, maintaining the same rate of Rs 400 per sq.ft. The most recent revision in 2024 also set the value at Rs 400 per sq.ft, indicating no change from the previous year.

It is important to note that there are no recorded figures for Lakshmi Avenue in the revisions from 2002, 2003, 2007, and 2012. Overall, comparing the figures from 2017 to 2024, the guideline value has increased by 49%.

Guideline values in Thachoor_2

In Thachoor_2, there are 40 streets under the Ponneri SRO that carry a 2024 guideline value ranging from Rs 202 to Rs 1,800 per sq.ft. The median value for these streets is Rs 600 per sq.ft, placing Lakshmi Avenue's 2024 figure below this median.

• Kumaran Nagar: Rs 800 per sq.ft (2024)
• K.P.K. Nagar: Rs 202 per sq.ft (2024)
• Kandan Nagar: Rs 800 per sq.ft (2024)
• M.V.M. Nagar: Rs 1,195 per sq.ft (2024)
• Jai Nagar: Rs 600 per sq.ft (2024)
• Illaihi 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 would amount to Rs 4,00,000. The stamp duty, charged at 7%, would be Rs 28,000, while the registration fee at 2% would be Rs 8,000. Together, these fees would total Rs 36,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. For more details, you can use the stamp duty and registration fee calculator.

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_2

The guideline value is a crucial factor in the registration process when buying or selling property in Thachoor_2. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is sold, the guideline value is referenced to ensure that the appropriate taxes are calculated accurately. Buyers and sellers should be aware of the current guideline value to understand their financial obligations during the registration process.

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 increased from Rs 268 per sq.ft in 2017 to Rs 400 per sq.ft in both 2023 and 2024, marking a 49% increase overall from 2017 to 2024.

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

For a property valued at Rs 4,00,000, the stamp duty would be Rs 28,000 and the registration fee would be Rs 8,000, totaling 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.

What is the range of guideline values in Thachoor_2?

The guideline values in Thachoor_2 range from Rs 202 to Rs 1,800 per sq.ft, with a median value of Rs 600 per sq.ft. Lakshmi Avenue's value is below this median at Rs 400 per sq.ft.