Guideline Value for LAKSHMI VINAYAGAR KOIL STREET

Lakshmi Vinayagar Koil Street guideline value

The current guideline value of Lakshmi Vinayagar Koil Street is Rs 1,700 per sq.ft, effective from 1 July 2024. This street is located in Karapakkam village under the Neelankarai SRO, classified as Residential Class II Type - III.

How the guideline value of Lakshmi Vinayagar Koil Street has changed

The guideline value for Lakshmi Vinayagar Koil Street has seen several revisions over the years. The 2012 revision set the value at Rs 1,500 per sq.ft, which was then reduced to Rs 1,005 per sq.ft in 2017. Following this, the 2023 revision increased the value to Rs 1,500 per sq.ft, and the most recent 2024 revision has raised it to Rs 1,700 per sq.ft. The register has no figures for the years 2002, 2003, and 2007.

From 2012 to 2017, the value decreased by 33%. However, from 2017 to 2023, it increased by 49%, and from 2023 to 2024, there was a further increase of 13%. Overall, from 2012 to 2024, the guideline value has increased by 13%.

Guideline values in Karapakkam

In Karapakkam village, there are 185 streets under the Neelankarai SRO that carry a 2024 guideline value, ranging from Rs 1,000 to Rs 10,700 per sq.ft. The median value is Rs 1,700 per sq.ft, which is the same as the current value for Lakshmi Vinayagar Koil Street.

• Lakshmi Vinayagar Street: Rs 1,700 per sq.ft (2024)
• LAKSHMI VINAYAGAR 2nd STREET 2nd CROSS: Rs 1,700 per sq.ft (2024)
• LAKSHMI VINAYAGAR 2nd STREET: Rs 1,700 per sq.ft (2024)
• LAKSHMI VINAYAGAR 2nd 1st CROSS: Rs 1,700 per sq.ft (2024)
• Lalitha Garden: Rs 1,100 per sq.ft (2024)
• L.N.Sharma School: Rs 1,000 per sq.ft (2024)

Stamp duty and registration fee for property in Lakshmi Vinayagar Koil Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,700 per sq.ft, the total guideline value would be Rs 17,00,000. The stamp duty at 7% would amount to Rs 1,19,000, and the registration fee at 2% would be Rs 34,000, making the total fees together Rs 1,53,000. 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 more details.

Which Sub Registrar Office covers Lakshmi Vinayagar Koil Street?

The Sub Registrar Office that covers Lakshmi Vinayagar Koil Street is the Neelankarai Sub Registrar Office, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai. You can find your SRO for more information.

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

The guideline value is a crucial factor during the registration of property transactions in Karapakkam. It serves as a benchmark for calculating stamp duty and registration fees, ensuring that the government receives the appropriate revenue from property transactions.

When buying or selling a property, the guideline value helps determine the minimum value at which the property can be registered. This ensures transparency and fairness in property dealings, as both buyers and sellers are aware of the official valuation set by the government.

Frequently asked questions

What is the current guideline value for Lakshmi Vinayagar Koil Street?

The current guideline value for Lakshmi Vinayagar Koil Street is Rs 1,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,500 per sq.ft in 2023 to Rs 1,700 per sq.ft in 2024, marking a 13% increase. It was Rs 1,005 per sq.ft in 2017, which was a 49% increase from the previous value.

What is the land classification for Lakshmi Vinayagar Koil Street?

Lakshmi Vinayagar Koil Street is classified as Residential Class II Type - III under the Neelankarai SRO.

What are the stamp duty and registration fees for properties in this area?

The stamp duty is charged at 7% of the guideline value, while the registration fee is 2%. For a property valued at Rs 17,00,000, the total fees would amount to Rs 1,53,000.

Where can I find the Sub Registrar Office for this street?

The Sub Registrar Office for Lakshmi Vinayagar Koil Street is the Neelankarai Sub Registrar Office, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai.