Guideline Value for LAKSHMI MAIN ROAD

Lakshmi Main Road guideline value

The current guideline value of Lakshmi Main Road in Paruthipattu village is Rs 990 per sq.ft, effective from 1 July 2024. This street falls under the Avadi SRO and is classified as Residential Class I Type - I.

How the guideline value of Lakshmi Main Road has changed

The guideline value for Lakshmi Main Road has seen several revisions over the years. The earliest recorded revision in the register is from 2002, with a value of Rs 152 per sq.ft. This increased to Rs 175 per sq.ft in 2003, marking a 15% rise. The value then rose significantly to Rs 350 per sq.ft in 2007, which was a 100% increase. Following this, the 2012 revision set the value at Rs 750 per sq.ft, representing a 114% increase. However, the value dropped to Rs 502 per sq.ft in 2017, showing a decrease of 33%. The most recent revisions show a substantial increase, with the value reaching Rs 900 per sq.ft in 2023, a 79% rise from 2017, and finally to Rs 990 per sq.ft in 2024, which is a 10% increase from the previous year.

There are no figures available for the years not mentioned in the revisions for this street. Overall, from 2002 to 2024, the guideline value has increased by 551%.

Guideline values in Paruthipattu

In Paruthipattu, there are 486 streets under the Avadi SRO that carry a 2024 guideline value ranging from Rs 801 to Rs 4,730 per sq.ft. The median value for these streets is Rs 1,625 per sq.ft, placing the guideline value of Lakshmi Main Road below this median.

• Lakshmi Green City Phase 1: Rs 1,540 per sq.ft (2024)
• Lakshmi Green City: Rs 1,540 per sq.ft (2024)
• Lakshmi Garden: Rs 950 per sq.ft (2024)
• Lakshmi Nagar 1st Street: Rs 950 per sq.ft (2024)
• Lakshmi Nagar, Govarthanagiri: Rs 1,625 per sq.ft (2024)
• Lakshmi Nagar Main Road: Rs 1,625 per sq.ft (2024)

Stamp duty and registration fee for property in Lakshmi Main Road

For a 1,000 sq.ft plot at the current guideline value of Rs 990 per sq.ft, the total guideline value would be Rs 9,90,000. The stamp duty at 7% would amount to Rs 69,300, and the registration fee at 2% would be Rs 19,800, bringing the total cost for these fees to Rs 89,100. 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 details.

Which Sub Registrar Office covers Lakshmi Main Road?

The Sub Registrar Office that covers Lakshmi Main Road is the Avadi Sub Registrar Office, located at Plot No.145, Vii Street, Modern City, Thandurai Village, Avadi Taluk, Tiruvallur District, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Paruthipattu. 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 helps ensure that the transaction is recorded at a fair value, reflecting the current market conditions as assessed by the authorities. Buyers and sellers should be aware of this value to avoid any discrepancies during registration.

Frequently asked questions

What is the current guideline value of Lakshmi Main Road?

The current guideline value of Lakshmi Main Road is Rs 990 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 152 per sq.ft in 2002 to Rs 990 per sq.ft in 2024, reflecting an overall increase of 551% over the years.

What is the land classification for Lakshmi Main Road?

Lakshmi Main Road is classified as Residential Class I Type - I, indicating its suitability for residential development.

Where can I find the Sub Registrar Office for Lakshmi Main Road?

The Sub Registrar Office for Lakshmi Main Road is the Avadi Sub Registrar Office, located at Plot No.145, Vii Street, Modern City, Thandurai Village, Avadi Taluk, Tiruvallur District, Chennai registration zone.

How is the stamp duty calculated for properties in Lakshmi Main Road?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 9,90,000, the stamp duty would be Rs 69,300 at 7%.