Guideline Value for LAKSHMIAMMAN KOIL STREET

Lakshmiamman Koil Street guideline value

The current guideline value of Lakshmiamman Koil Street in Karanodai village is Rs 1,210 per sq.ft, effective from 1 July 2024. This street falls under the jurisdiction of the Redhills Sub Registrar Office and is classified as Residential Class I Type - I.

How the guideline value of Lakshmiamman Koil Street has changed

Over the years, the guideline value of Lakshmiamman Koil Street has seen several revisions. The 2007 revision set the value at Rs 600 per sq.ft, which increased to Rs 1,100 per sq.ft in 2012. However, there was a decrease to Rs 737 per sq.ft in the 2017 revision. The value then rose significantly to Rs 1,100 per sq.ft in 2023, and the latest revision in 2024 has further increased it to Rs 1,210 per sq.ft. Notably, the register has no figures for the years 2002 and 2003.

From 2017 to 2023, the guideline value increased by 49%, while there was a decrease of 33% from 2012 to 2017. The increase from 2007 to 2012 was 83%, and the overall change from 2007 to 2024 is a significant rise of 102%.

Guideline values in Karanodai

In Karanodai, there are 38 streets under the Redhills SRO, with guideline values for 2024 ranging from Rs 440 to Rs 2,000 per sq.ft. The median guideline value is Rs 1,210 per sq.ft, which is equal to the current value of Lakshmiamman Koil Street.

• Lakshmi Amman Nagar: Rs 440 per sq.ft (2024)
• Lakshmi Nagar: Rs 1,650 per sq.ft (2024)
• Kasthuri Ammal Nagar: Rs 550 per sq.ft (2024)
• Munivel Nagar: Rs 1,210 per sq.ft (2024)
• J.P. Nagar: Rs 1,650 per sq.ft (2024)
• Jai Nagar: Rs 440 per sq.ft (2024)

Stamp duty and registration fee for property in Lakshmiamman Koil Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,210 per sq.ft, the total guideline value would be Rs 12,10,000. The stamp duty at 7% would amount to Rs 84,700, and the registration fee at 2% would be Rs 24,200, resulting in a total cost of Rs 1,08,900. 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 Lakshmiamman Koil Street?

The Sub Registrar Office that covers Lakshmiamman Koil Street is the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052. You can find your SRO for more information.

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

The guideline value plays a crucial role in property transactions in Karanodai, as it is used to determine the stamp duty and registration fees applicable during the sale or purchase of property. Buyers and sellers must consider this value when negotiating the sale price to ensure compliance with local regulations.

When registering a property, the guideline value is compared with the sale price, and the higher of the two is used to calculate the applicable duties and fees. This ensures that all transactions are fairly assessed based on the established values set by the Registration Department.

Frequently asked questions

What is the current guideline value of Lakshmiamman Koil Street?

The current guideline value of Lakshmiamman Koil Street is Rs 1,210 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 600 per sq.ft in 2007 to Rs 1,210 per sq.ft in 2024, reflecting an overall increase of 102% over the years.

What are the stamp duty rates applicable for properties in Karanodai?

The stamp duty rate for properties in Karanodai is 7%, while the registration fee is 2% of the guideline value or sale price, whichever is higher.

Which office handles property registrations in Karanodai?

The Redhills Sub Registrar Office handles property registrations in Karanodai, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.

How can I calculate the total cost of buying property in Lakshmiamman Koil Street?

You can calculate the total cost by determining the guideline value for the property size, then applying the stamp duty and registration fees based on that value. A calculator is available for precise calculations.