Guideline Value for LAKSHMI TOWN

Lakshmi Town guideline value

The current guideline value of Lakshmi Town, located in Kannampalayam village under the Kunrathur SRO, is Rs 2,310 per sq.ft, effective from 1 July 2024. The land classification for this area is Residential Class II Type - III.

How the guideline value of Lakshmi Town has changed

Over the years, the guideline value for Lakshmi Town has seen several revisions. The most recent revision in 2024 set the value at Rs 2,310 per sq.ft, which is an increase from Rs 2,100 per sq.ft in 2023, marking a change of +10%. Prior to 2023, there are no figures available for the years 2017, 2012, 2007, 2003, and 2002, indicating that the register has no figure for this street in those years.

In summary, the guideline value increased from Rs 2,100 per sq.ft in 2023 to Rs 2,310 per sq.ft in 2024. This reflects a significant adjustment in the valuation of properties in Lakshmi Town as per the latest revision.

Guideline values in Kannampalayam

Kannampalayam village has a total of 75 streets under the Kunrathur SRO, with guideline values ranging from Rs 765 to Rs 4,000 per sq.ft. The median guideline value for these streets is Rs 1,375 per sq.ft, placing Lakshmi Town's 2024 figure above this median.

• Lingam Nagar: Rs 3,300 per sq.ft (2024)
• Lakshmi Nagar: Rs 880 per sq.ft (2024)
• Mahalakshmi Nagar: Rs 1,320 per sq.ft (2024)
• Mahalakshmi Nagar Phase-I: Rs 3,080 per sq.ft (2024)
• Kps Nagar: Rs 2,310 per sq.ft (2024)
• Middle Street: Rs 765 per sq.ft (2024)

Stamp duty and registration fee for property in Lakshmi Town

For a 1,000 sq.ft plot at the current guideline value of Rs 2,310 per sq.ft, the total guideline value would be Rs 23,10,000. The stamp duty, charged at 7%, would amount to Rs 1,61,700, while the registration fee at 2% would be Rs 46,200. Together, the total cost would be Rs 2,07,900. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Lakshmi Town?

The Sub Registrar Office that covers Lakshmi Town is the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069, within the Chennai registration zone. You can find your SRO for more details.

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

The guideline value is a crucial factor in property transactions, as it determines the minimum price at which a property can be registered. When buying or selling property in Kannampalayam, the guideline value is used to calculate stamp duty and registration fees, ensuring that all transactions comply with the legal requirements set by the Registration Department.

It is essential for buyers and sellers to be aware of the guideline value to avoid discrepancies during the registration process. The guideline value serves as a benchmark for property valuations, helping to standardize pricing across the region.

Frequently asked questions

What is the current guideline value of Lakshmi Town?

The current guideline value of Lakshmi Town is Rs 2,310 per sq.ft, effective from 1 July 2024.

How has the guideline value changed recently?

Recently, the guideline value increased from Rs 2,100 per sq.ft in 2023 to Rs 2,310 per sq.ft in 2024, reflecting a change of +10%.

What is the land classification for Lakshmi Town?

The land classification for Lakshmi Town is Residential Class II Type - III, indicating the type of development allowed in the area.

Where can I find the Kunrathur Sub Registrar Office?

The Kunrathur Sub Registrar Office is located at No.59, Road Street, Kundrathur, Chennai -600 069. This office handles property registrations in the area.

How is stamp duty calculated for properties in Lakshmi Town?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft property at the current guideline value would incur a stamp duty of Rs 1,61,700.