Guideline Value for LAKSHMIPURAM 3RD STREET

Lakshmipuram 3rd Street guideline value

The current guideline value of Lakshmipuram 3rd 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 3rd Street has changed

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

Overall, from 2002 to 2024, the guideline value has increased by 760%. There are no figures available for the revisions in the years not listed above for this street.

Guideline values in Thiruvanmiyur

In Thiruvanmiyur, there are 484 streets under the Chennai South Joint I SRO, with guideline values ranging from Rs 3,520 to Rs 12,660 per sq.ft. The median value for these streets is Rs 9,900 per sq.ft, which is equal to the guideline value for Lakshmipuram 3rd Street.

• Lakshmipuram 4th Street: Rs 9,900 per sq.ft (2024)
• Lakshmipuram 2nd Street: Rs 9,900 per sq.ft (2024)
• Lakshmipuram 1st 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 3rd Street

For a 1,000 sq.ft plot at the current rate, the guideline value amounts to Rs 99,00,000. The stamp duty at 7% would be Rs 6,93,000, and the registration fee at 2% would be Rs 1,98,000, totaling Rs 8,91,000. 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 information.

Which Sub Registrar Office covers Lakshmipuram 3rd Street?

The Sub Registrar Office that covers Lakshmipuram 3rd 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 is an essential factor during property registration in Thiruvanmiyur. It determines the minimum value at which properties can be registered and is used to calculate the stamp duty and registration fees applicable to the transaction.

When buying or selling property, the guideline value ensures that the transaction is recorded at a fair value, preventing undervaluation. This value is crucial for both buyers and sellers to understand the financial implications of their property transactions.

Frequently asked questions

What is the current guideline value of Lakshmipuram 3rd Street?

The current guideline value of Lakshmipuram 3rd 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 increased from Rs 1,151 per sq.ft in 2002 to Rs 9,900 per sq.ft in 2024, reflecting an overall increase of 760% over these years.

What is the classification of land in Lakshmipuram 3rd Street?

The land classification for Lakshmipuram 3rd Street is Residential Class I Type - I.

What are the stamp duty and registration fees for properties here?

For a property valued at Rs 99,00,000, the stamp duty would be Rs 6,93,000, and the registration fee would be Rs 1,98,000, totaling Rs 8,91,000.

Which office handles registrations for Lakshmipuram 3rd Street?

The Chennai South Joint I Sub Registrar Office handles registrations for Lakshmipuram 3rd Street, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035.