Guideline Value for LAKSHMIPATHY

Lakshmipathy guideline value

The current guideline value of Lakshmipathy is Rs 750 per sq.ft, effective from 1 July 2024. This street is located in Thiruninravur-A village under the Avadi SRO, classified as Residential Class II Type - III.

How the guideline value of Lakshmipathy has changed

In the 2017 revision, the guideline value was Rs 469 per sq.ft. This increased to Rs 700 per sq.ft in the 2023 revision, marking a 49% rise. The most recent revision in 2024 saw the guideline value increase to Rs 750 per sq.ft, which is a 7% increase from the previous year.

Overall, from the 2017 revision to the 2024 revision, the guideline value has increased by 60%. The register has no figures for the years 2002, 2003, 2007, and 2012 for this street.

Guideline values in Thiruninravur-A

In Thiruninravur-A, there are 382 streets under the Avadi SRO carrying a 2024 guideline value, ranging from Rs 440 to Rs 2,750 per sq.ft. The median guideline value for these streets is Rs 750 per sq.ft, which is equal to the current value of Lakshmipathy.

• Lakshmiprakash & Streets: Rs 1,400 per sq.ft (2024)
• Lakshminarayan Nagar: Rs 750 per sq.ft (2024)
• Lakshmipuram 10th Cross St: Rs 840 per sq.ft (2024)
• Lakshmipuram 10th Main St: Rs 840 per sq.ft (2024)
• Lakshmipuram 11th Cross St: Rs 840 per sq.ft (2024)
• Lakshmipuram 12th Cross St: Rs 840 per sq.ft (2024)

Stamp duty and registration fee for property in Lakshmipathy

For a 1,000 sq.ft plot at the current guideline value of Rs 750 per sq.ft, the total guideline value would be Rs 7,50,000. The stamp duty at 7% would amount to Rs 52,500, and the registration fee at 2% would be Rs 15,000, bringing the total fees to Rs 67,500. Duty is charged on the higher of the guideline value and the sale price.

You can also use our stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Lakshmipathy?

The Sub Registrar Office that covers Lakshmipathy is the Avadi Sub Registrar Office. The address is Plot No.145, Vii Street, Modern City, Thandurai Village, Avadi Taluk, Tiruvallur District, Chennai registration zone. You can find your SRO here.

How the guideline value is used when you buy or sell in Thiruninravur-A

The guideline value is a crucial factor in property transactions, as it determines the minimum value at which a property can be registered. When buying or selling property in Thiruninravur-A, the guideline value is used to calculate stamp duty and registration fees, which are mandatory for the legal transfer of property ownership.

It is important for buyers and sellers to be aware of the current guideline value to ensure compliance with legal requirements and to avoid any potential disputes during the registration process.

Frequently asked questions

What is the current guideline value of Lakshmipathy?

The current guideline value of Lakshmipathy is Rs 750 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 469 per sq.ft in 2017 to Rs 700 in 2023, and then to Rs 750 in 2024. This reflects a total increase of 60% from 2017 to 2024.

What are the stamp duty and registration fees for property in Lakshmipathy?

For a 1,000 sq.ft plot at the current guideline value, the total stamp duty would be Rs 52,500 and the registration fee would be Rs 15,000, totaling Rs 67,500.

What is the land classification of Lakshmipathy?

The land classification of Lakshmipathy is Residential Class II Type - III. This classification affects the guideline value and property transactions in the area.

Which office handles property registrations for Lakshmipathy?

The Avadi Sub Registrar Office handles property registrations for Lakshmipathy. Its address is Plot No.145, Vii Street, Modern City, Thandurai Village, Avadi Taluk, Tiruvallur District, Chennai registration zone.