Guideline Value for LAKSHMI NARAYANA PERUMAL STREET

Lakshmi Narayana Perumal Street guideline value

The current guideline value of Lakshmi Narayana Perumal Street is Rs 1,650 per sq.ft, effective from 1 July 2024. This street is located in Pallikaranai village and falls under the Chennai South Joint I SRO. The land classification for this area is Residential Class IV Type - I.

How the guideline value of Lakshmi Narayana Perumal Street has changed

The guideline value for Lakshmi Narayana Perumal Street has seen significant changes over the years. In 2002, the value was Rs 111 per sq.ft, which increased to Rs 131 per sq.ft in 2003, marking an 18% rise. The value then rose dramatically to Rs 400 per sq.ft in 2007, reflecting a 205% increase. By 2012, the guideline value reached Rs 1,500 per sq.ft, representing a substantial 275% increase from the previous revision.

As of the 2024 revision, the guideline value stands at Rs 1,650 per sq.ft, which is a 10% increase from the 2012 figure. Overall, from 2002 to 2024, the guideline value has increased by 1386%. It is important to note that there are no figures available for the years 2017 and 2023 in the register for this street.

Guideline values in Pallikaranai

In Pallikaranai, there are 749 streets under the Chennai South Joint I SRO with a 2024 guideline value ranging from Rs 1,110 to Rs 8,580 per sq.ft. The median guideline value is Rs 1,650 per sq.ft, which is the same as the current value for Lakshmi Narayana Perumal Street.

• Lakshmi Narayana Perumal Koil Cross Street: Rs 1,110 per sq.ft (2024)
• Lakshmi Street Vgp Shanthi Nagar: Rs 2,750 per sq.ft (2024)
• Lakshmi Nagar: Rs 1,320 per sq.ft (2024)
• L.E.O.Complex Street: Rs 1,320 per sq.ft (2024)
• L.I.C.Colony Ist Street: Rs 2,200 per sq.ft (2024)
• L.I.C. Nagar 2nd Street: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Lakshmi Narayana Perumal Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,650 per sq.ft, the total guideline value would be Rs 16,50,000. The stamp duty at 7% would amount to Rs 1,15,500, and the registration fee at 2% would be Rs 33,000, leading to a total cost of Rs 1,48,500. 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 detailed calculations.

Which Sub Registrar Office covers Lakshmi Narayana Perumal Street?

The Sub Registrar Office that covers Lakshmi Narayana Perumal Street is the Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035. You can find your SRO for more information.

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

The guideline value is an essential factor in the registration process of property transactions in Pallikaranai. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is recorded accurately in the government records.

When buying or selling property, the guideline value helps in calculating the stamp duty and registration fees, which are mandatory for legal ownership transfer. Buyers and sellers must be aware of the current guideline value to ensure compliance with the registration requirements.

Frequently asked questions

What is the current guideline value of Lakshmi Narayana Perumal Street?

The current guideline value of Lakshmi Narayana Perumal Street is Rs 1,650 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 111 per sq.ft in 2002 to Rs 1,650 per sq.ft in 2024, marking an overall increase of 1386% over the years.

What are the other streets in Pallikaranai with their guideline values?

Other streets in Pallikaranai include Lakshmi Narayana Perumal Koil Cross Street at Rs 1,110 per sq.ft, Lakshmi Street Vgp Shanthi Nagar at Rs 2,750 per sq.ft, and others with varying rates.

What is the stamp duty rate for properties in Lakshmi Narayana Perumal Street?

The stamp duty rate for properties in Lakshmi Narayana Perumal Street is 7% of the guideline value or sale price, whichever is higher.

Where can I find the Sub Registrar Office for Lakshmi Narayana Perumal Street?

The Sub Registrar Office for Lakshmi Narayana Perumal Street is the Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035.