Guideline Value for LAKSHMIPURAM 2ND STREET

Lakshmipuram 2nd Street guideline value

The current guideline value of Lakshmipuram 2nd Street is Rs 9,900 per sq.ft, effective from 1 July 2024. This street is located in Thiruvanmiyur village, under the Chennai South Joint I SRO, and is classified as Residential Class I Type - I.

How the guideline value of Lakshmipuram 2nd Street has changed

The guideline value for Lakshmipuram 2nd Street has seen significant changes over the years. In 2002, the value was Rs 1,151 per sq.ft, which increased to Rs 1,273 per sq.ft in 2003, marking an 11% rise. The value then rose to Rs 3,000 per sq.ft in 2007, a remarkable increase of 136%. Following this, the 2012 revision saw a decrease to Rs 9,000 per sq.ft, a drop of 33%. The value rebounded to Rs 6,030 per sq.ft in 2017, reflecting a 200% increase from the previous figure. The 2023 revision set the value at Rs 9,000 per sq.ft, which increased to Rs 9,900 per sq.ft in 2024, representing a 10% rise.

Overall, from 2002 to 2024, the guideline value has increased by 760%. There are no revisions with figures missing 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 2nd Street.

• Lakshmipuram 1st 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 2nd 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, bringing the total to Rs 8,91,000. 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 precise calculations.

Which Sub Registrar Office covers Lakshmipuram 2nd Street?

The Sub Registrar Office that covers Lakshmipuram 2nd 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 information.

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

The guideline value is a crucial factor when registering property in Thiruvanmiyur. It serves as a benchmark for determining the minimum value at which a property can be registered. Buyers and sellers must consider this value to ensure that the registration process complies with local regulations.

When a property is sold, the guideline value is used to calculate the applicable stamp duty and registration fees. This ensures that the government receives the appropriate revenue from property transactions, based on the established guideline values for different areas.

Frequently asked questions

What is the current guideline value of Lakshmipuram 2nd Street?

The current guideline value of Lakshmipuram 2nd 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, showing an overall increase of 760% over the years.

What is the land classification for Lakshmipuram 2nd Street?

Lakshmipuram 2nd Street is classified as Residential Class I Type - I, indicating its designation for residential use.

What are the stamp duty and registration fees for property in Lakshmipuram 2nd Street?

For a 1,000 sq.ft plot, the total guideline value is Rs 99,00,000. The stamp duty is Rs 6,93,000, and the registration fee is Rs 1,98,000, totaling Rs 8,91,000.

Where is the Sub Registrar Office for Lakshmipuram 2nd Street located?

The Sub Registrar Office for Lakshmipuram 2nd Street is located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035.