Guideline Value for LAKSHMI EXTN 3RD STREET

Lakshmi Extn 3rd Street guideline value

The current guideline value of Lakshmi Extn 3rd Street is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Villivakkam village, under the Villivakkam SRO, and is classified as Residential Class IV Type - II.

How the guideline value of Lakshmi Extn 3rd Street has changed

The guideline value for Lakshmi Extn 3rd Street has undergone several revisions over the years. In 2012, the value was set at Rs 3,000 per sq.ft, which then decreased to Rs 2,010 per sq.ft in 2017. Following this, the value increased significantly to Rs 3,000 per sq.ft in 2023, and then rose again to Rs 3,300 per sq.ft in the 2024 revision.

From 2017 to 2023, the guideline value increased by 49%, while from 2023 to 2024, there was a 10% increase. Overall, from 2012 to 2024, the guideline value has increased by 10%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Villivakkam

In Villivakkam, there are 372 streets under the Villivakkam SRO that have a 2024 guideline value ranging from Rs 1,600 to Rs 13,200 per sq.ft, with a median value of Rs 4,900 per sq.ft. The guideline value for Lakshmi Extn 3rd Street is below this median.

• Lakshmi Extn 2nd Street: Rs 3,300 per sq.ft (2024)
• Lakshmi Flats: Rs 13,200 per sq.ft (2024)
• Lakshmi Extn 1st Street: Rs 3,300 per sq.ft (2024)
• LAKSHMI 3rd STREET: Rs 3,300 per sq.ft (2024)
• LAKSHMI 2nd STREET: Rs 3,300 per sq.ft (2024)
• LAKSHMI 1st STREET: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Lakshmi Extn 3rd Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value would be Rs 33,00,000. The stamp duty at 7% would be Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, totaling Rs 2,97,000. 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 details.

Which Sub Registrar Office covers Lakshmi Extn 3rd Street?

The Sub Registrar Office that covers Lakshmi Extn 3rd Street is the Villivakkam Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037 (Near By Nolambur Eb Office). You can find your SRO here.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Villivakkam. It determines the minimum value on which stamp duty and registration fees are calculated, ensuring that the transaction is recorded at an appropriate value.

Frequently asked questions

What is the current guideline value of Lakshmi Extn 3rd Street?

The current guideline value of Lakshmi Extn 3rd Street is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 3,000 per sq.ft in 2012 to Rs 2,010 per sq.ft in 2017, then to Rs 3,000 per sq.ft in 2023, and finally to Rs 3,300 per sq.ft in 2024.

What is the land classification for Lakshmi Extn 3rd Street?

Lakshmi Extn 3rd Street is classified as Residential Class IV Type - II.

Where can I find the registration office for Lakshmi Extn 3rd Street?

The registration office for Lakshmi Extn 3rd Street is the Villivakkam Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.

How is the stamp duty calculated for properties in Lakshmi Extn 3rd Street?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For a property valued at Rs 33,00,000, the stamp duty would be Rs 2,31,000.