Guideline Value for LAKSHMIPURAM 1ST STREET

Lakshmipuram 1st Street guideline value

The current guideline value of Lakshmipuram 1st Street is Rs 9,900 per sq.ft, effective from 1 July 2024. This street is located in Thiruvanmiyur village and falls under the Chennai South Joint I SRO. The land classification for this area is Residential Class I Type - I.

How the guideline value of Lakshmipuram 1st Street has changed

The guideline value for Lakshmipuram 1st Street has seen several revisions over the years. In 2002, the guideline value was Rs 1,151 per sq.ft, which increased to Rs 1,273 per sq.ft in 2003, marking an increase of 11%. Following this, the value rose significantly to Rs 3,000 per sq.ft in 2007, representing a 136% increase. The value then doubled to Rs 9,000 per sq.ft in 2012, which was a 200% increase. However, it decreased to Rs 6,030 per sq.ft in 2017, reflecting a decline of 33%. The guideline value then increased to Rs 9,000 per sq.ft in 2023 and finally reached Rs 9,900 per sq.ft in 2024, a 10% increase.

Overall, from 2002 to 2024, the guideline value has increased by 760%. The register has no figures for the years between 2017 and 2023 for this street.

Guideline values in Thiruvanmiyur

In Thiruvanmiyur, there are 484 streets under the Chennai South Joint I SRO that carry a 2024 guideline value, ranging from Rs 3,520 to Rs 12,660 per sq.ft. The median guideline value is Rs 9,900 per sq.ft, which is equal to the 2024 figure for Lakshmipuram 1st Street.

• Lakshmipuram 2nd Street: Rs 9,900 per sq.ft (2024)
• Lakshmipuram 3rd Street: Rs 9,900 per sq.ft (2024)
• Lakshmipuram 4th Street: Rs 9,900 per sq.ft (2024)
• Lakshmipuram 5th Street: Rs 9,900 per sq.ft (2024)
• Lakshmipuram 6th Street: Rs 9,900 per sq.ft (2024)
• Lal Bahadur Sastri Street: Rs 9,900 per sq.ft (2024)

Stamp duty and registration fee for property in Lakshmipuram 1st Street

For a 1,000 sq.ft plot at the current guideline value of Rs 9,900 per sq.ft, the total guideline value would be Rs 99,00,000. The stamp duty at 7% would amount to Rs 6,93,000, and the registration fee at 2% would be Rs 1,98,000, resulting in a total of Rs 8,91,000. Please 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 information.

Which Sub Registrar Office covers Lakshmipuram 1st Street?

The Sub Registrar Office that covers Lakshmipuram 1st Street is the Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035. You can find your SRO for more details.

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

The guideline value plays a crucial role when buying or selling property in Thiruvanmiyur. It is used to determine the stamp duty and registration fees applicable during the transaction. Buyers and sellers must consider the guideline value for accurate calculations of these costs.

When a property is registered, the guideline value serves as a benchmark for the transaction price. If the sale price is higher than the guideline value, the stamp duty is calculated based on the sale price instead.

Frequently asked questions

What is the current guideline value of Lakshmipuram 1st Street?

The current guideline value of Lakshmipuram 1st Street is Rs 9,900 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 1,151 per sq.ft in 2002 to Rs 9,900 per sq.ft in 2024, representing an overall increase of 760% over the years.

What is the land classification for Lakshmipuram 1st Street?

The land classification for Lakshmipuram 1st Street is Residential Class I Type - I.

Which office handles registrations for Lakshmipuram 1st Street?

The Chennai South Joint I Sub Registrar Office handles registrations for Lakshmipuram 1st Street, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035.

How is stamp duty calculated for properties in Lakshmipuram 1st Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 99,00,000, the stamp duty would be Rs 6,93,000 at a rate of 7%.