Guideline Value for LAKSHMI AVENUE

Lakshmi Avenue guideline value

The current guideline value of Lakshmi Avenue is Rs 550 per sq.ft, effective from 1 July 2024. This street is located in Vallur village under the Thiruvottiyur SRO, classified as Residential Class I Type - I.

How the guideline value of Lakshmi Avenue has changed

In the 2017 revision, the guideline value was Rs 335 per sq.ft. This increased to Rs 500 per sq.ft in the 2023 revision, marking a significant rise of 49%. The latest revision in 2024 set the guideline value at Rs 550 per sq.ft, reflecting a 10% increase from the previous year.

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

Guideline values in Vallur

In Vallur, there are 75 streets under the Thiruvottiyur SRO that carry a 2024 guideline value, ranging from Rs 220 to Rs 551 per sq.ft. The median guideline value in this village is Rs 220 per sq.ft, placing Lakshmi Avenue's 2024 figure above that median.

• Mahalakshmi Nagar: Rs 220 per sq.ft (2024)
• Mahaveer Nagar: Rs 550 per sq.ft (2024)
• Maheswari Nagar: Rs 550 per sq.ft (2024)
• Kodiyudaiamman Nagar: Rs 220 per sq.ft (2024)
• K.M. Sundaram Nagar: Rs 220 per sq.ft (2024)
• Maruthi Nagar: Rs 330 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 550 per sq.ft, the total guideline value amounts to Rs 5,50,000. The stamp duty at 7% would be Rs 38,500, and the registration fee at 2% would be Rs 11,000, making the total cost for these fees Rs 49,500. 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 further calculations.

Which Sub Registrar Office covers Lakshmi Avenue?

The Sub Registrar Office that covers Lakshmi Avenue is the Thiruvottiyur Sub Registrar Office, located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019. You can find your SRO for more details.

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

The guideline value is an important factor in property transactions, as it determines the minimum value at which a property can be registered. When buying or selling property in Vallur, the guideline value will influence the stamp duty and registration fees payable during the registration process.

It is essential to be aware of the latest guideline value to ensure compliance with local regulations and to avoid any discrepancies during registration. Buyers and sellers should consult the guideline value register to understand the applicable rates for their property.

Frequently asked questions

What is the current guideline value of Lakshmi Avenue?

The current guideline value of Lakshmi Avenue is Rs 550 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed since 2017?

Since 2017, the guideline value has increased from Rs 335 per sq.ft to Rs 550 per sq.ft in 2024, representing a total increase of 64% over this period.

What is the registration office for Lakshmi Avenue?

The registration office for Lakshmi Avenue is the Thiruvottiyur Sub Registrar Office, located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019.

What are the stamp duty rates in Lakshmi Avenue?

The stamp duty rate for property transactions in Lakshmi Avenue is 7% of the guideline value or sale price, whichever is higher.

Are there other streets in Vallur with different guideline values?

Yes, there are several other streets in Vallur with varying guideline values. For example, Mahalakshmi Nagar has a guideline value of Rs 220 per sq.ft, while Mahaveer Nagar and Maheswari Nagar both have a guideline value of Rs 550 per sq.ft.