Guideline Value for LAKSHMI NARAYANAN STREET

Lakshmi Narayanan Street guideline value

The current guideline value of Lakshmi Narayanan Street in Puliyur village is Rs 5,800 per sq.ft, effective from 1 July 2024. This street falls under the Kodambakkam SRO and is classified as Residential Class I Type - I.

How the guideline value of Lakshmi Narayanan Street has changed

Over the years, the guideline value of Lakshmi Narayanan Street has seen several revisions. The 2007 revision set the value at Rs 1,950 per sq.ft, which increased significantly to Rs 5,300 per sq.ft in 2012, marking a 172% rise. However, it then decreased to Rs 3,551 per sq.ft in 2017, reflecting a 33% decline. The value then rose to Rs 5,300 per sq.ft in 2023, followed by a further increase to Rs 5,800 per sq.ft in the 2024 revision, which represents a 9% increase from the previous year.

There are no figures available for the revisions in 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 197%.

Guideline values in Puliyur

In Puliyur, there are 648 streets under the Kodambakkam SRO that carry a 2024 guideline value ranging from Rs 3,300 to Rs 14,300 per sq.ft. The median guideline value for these streets is Rs 5,800 per sq.ft, which is the same as the current value for Lakshmi Narayanan Street.

• Lakshmipuram Main Road: Rs 5,000 per sq.ft (2024)
• Lic Colony: Rs 4,600 per sq.ft (2024)
• Loganathan Nagar 1st Street: Rs 6,300 per sq.ft (2024)
• Loganathan Nagar 2nd Street: Rs 6,300 per sq.ft (2024)
• Loganathan Nagar 3rd Street: Rs 6,300 per sq.ft (2024)
• Loganathan Puram: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Lakshmi Narayanan Street

For a 1,000 sq.ft plot at the current guideline value of Rs 5,800 per sq.ft, the total guideline value amounts to Rs 58,00,000. The stamp duty at 7% would be Rs 4,06,000, and the registration fee at 2% would be Rs 1,16,000, bringing the total charges to Rs 5,22,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can also use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Lakshmi Narayanan Street?

The Sub Registrar Office that covers Lakshmi Narayanan Street is the Kodambakkam Sub Registrar Office, located at 2/31, Azhagiri Nagar 5th Street, Vadapalani, Chennai - 600 026. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process for property transactions in Puliyur. 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 official records.

When buying or selling property, the guideline value helps in calculating the applicable stamp duty and registration fees. This ensures that both buyers and sellers are aware of the financial obligations involved in the transaction, based on the officially recognized value of the property.

Frequently asked questions

What is the current guideline value of Lakshmi Narayanan Street?

The current guideline value of Lakshmi Narayanan Street is Rs 5,800 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 1,950 per sq.ft in 2007 to Rs 5,800 per sq.ft in 2024, marking an overall increase of 197%.

What is the land classification for Lakshmi Narayanan Street?

Lakshmi Narayanan Street is classified as Residential Class I Type - I under the Kodambakkam SRO.

What are the stamp duty and registration fees for properties on this street?

For a property valued at Rs 58,00,000, the stamp duty would be Rs 4,06,000 and the registration fee would be Rs 1,16,000, totaling Rs 5,22,000.

Where is the Sub Registrar Office for Lakshmi Narayanan Street located?

The Kodambakkam Sub Registrar Office is located at 2/31, Azhagiri Nagar 5th Street, Vadapalani, Chennai - 600 026.