Guideline Value for LAKSHMI STREET (NEAR AGATHIYAR NAGAR)

Lakshmi Street (Near Agathiyar Nagar) guideline value

The current guideline value of Lakshmi Street (Near Agathiyar Nagar) is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Villivakkam village, under the jurisdiction of the Villivakkam SRO. The land classification for this area is Residential Class IV Type - II.

How the guideline value of Lakshmi Street (Near Agathiyar Nagar) has changed

The guideline value for Lakshmi Street has undergone several revisions over the years. Starting from the 2002 revision, the value was Rs 574 per sq.ft. This increased to Rs 655 per sq.ft in 2003, marking a 14% rise. The value further increased to Rs 950 per sq.ft in 2007, reflecting a significant increase of 45%. In 2012, the value was Rs 3,000 per sq.ft, which was a 216% increase from the previous revision. However, in 2017, it dropped to Rs 2,010 per sq.ft, showing a decrease of 33%. The value then rose to Rs 3,000 per sq.ft in 2023, a 49% increase, and finally reached Rs 3,300 per sq.ft in the 2024 revision, which is a 10% increase.

There are no figures available for the years not mentioned in the guideline value register for this street. The overall increase from 2002 to 2024 is 475%.

Guideline values in Villivakkam

In Villivakkam, there are 372 streets under the Villivakkam SRO, with guideline values ranging from Rs 1,600 to Rs 13,200 per sq.ft. The median guideline value for these streets is Rs 4,900 per sq.ft, which means that the 2024 figure for Lakshmi Street is below this median.

• Lakshmi Street: Rs 3,300 per sq.ft (2024)
• Lakshmipuram N.R.N.Street: Rs 3,300 per sq.ft (2024)
• Lakshmipuram Lane: Rs 2,700 per sq.ft (2024)
• Lakshmipuram Extn: Rs 3,300 per sq.ft (2024)
• Lakshmipuram 4th Street: Rs 3,300 per sq.ft (2024)
• LAKSHMIPURAM 3rd STREET: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Lakshmi Street (Near Agathiyar Nagar)

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value amounts to 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, bringing the total cost to Rs 2,97,000. It is important to note that the 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 Street (Near Agathiyar Nagar)?

The Sub Registrar Office that covers Lakshmi Street is the Villivakkam Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office. You can find your SRO for more details.

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

The guideline value is a crucial reference point when buying or selling property in Villivakkam. It serves as the minimum value for property transactions and is used to calculate the stamp duty and registration fees applicable during the registration process.

When you register a property, the guideline value ensures that the transaction is documented at a fair value, which helps in maintaining transparency in property dealings. Buyers and sellers should be aware of the guideline value to understand the financial implications of their property transactions.

Frequently asked questions

What is the current guideline value of Lakshmi Street (Near Agathiyar Nagar)?

The current guideline value of Lakshmi Street (Near Agathiyar Nagar) 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 significantly from Rs 574 per sq.ft in 2002 to Rs 3,300 per sq.ft in 2024, reflecting an overall increase of 475%.

What is the land classification for Lakshmi Street?

The land classification for Lakshmi Street is Residential Class IV Type - II.

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

The Sub Registrar Office for Lakshmi 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 Street?

The stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at Rs 3,300 per sq.ft, the total guideline value is Rs 33,00,000, leading to a stamp duty of Rs 2,31,000.