Guideline Value for LAKSHMIPURAM 3rd STREET

LAKSHMIPURAM 3rd STREET guideline value

The current guideline value of LAKSHMIPURAM 3rd STREET in Villivakkam village is Rs 3,300 per sq.ft, effective from 1 July 2024. This street falls under the Villivakkam SRO and is classified as Residential Class IV Type - II.

How the guideline value of LAKSHMIPURAM 3rd STREET has changed

The guideline value for LAKSHMIPURAM 3rd STREET has seen several revisions over the years. The earliest recorded value in the register is from 2002, when it was Rs 486 per sq.ft. This value increased to Rs 555 per sq.ft in 2003, marking a 14% rise. The subsequent revisions show a significant increase, with the value reaching Rs 1,800 per sq.ft in 2007, which is a 224% increase from the previous value. In 2012, the value was Rs 3,000 per sq.ft, reflecting a 67% increase from 2007. However, it then decreased by 33% to Rs 2,010 per sq.ft in 2017. The value rose again to Rs 3,000 per sq.ft in 2023, and finally, it is set to reach Rs 3,300 per sq.ft in the 2024 revision, which is a 10% increase from 2023. There are no figures available for the revisions in years not listed in the register.

Guideline values in Villivakkam

In Villivakkam, there are 372 streets under the Villivakkam SRO that carry a 2024 guideline value ranging from Rs 1,600 to Rs 13,200 per sq.ft, with a median value of Rs 4,900 per sq.ft. The guideline value of LAKSHMIPURAM 3rd STREET is below this median.

• LAKSHMIPURAM 2nd STREET: Rs 3,300 per sq.ft (2024)
• Lakshmipuram 4th Street: Rs 3,300 per sq.ft (2024)
• LAKSHMIPURAM 1st STREET: Rs 3,300 per sq.ft (2024)
• Lakshmipuram Extn: Rs 3,300 per sq.ft (2024)
• Lakshmipuram Lane: Rs 2,700 per sq.ft (2024)
• Lakshmipuram N.R.N.Street: Rs 3,300 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 guideline value of Rs 3,300 per sq.ft, the total guideline value would be Rs 33,00,000. The stamp duty at 7% would amount to Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, bringing the total to Rs 2,97,000. Please note that the duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for further calculations.

Which Sub Registrar Office covers LAKSHMIPURAM 3rd STREET?

The Sub Registrar Office that covers LAKSHMIPURAM 3rd STREET is the Villivakkam Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037 (Near By Nolambur Eb Office). You can find your SRO for more information.

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

The guideline value is a crucial factor during the registration of property transactions in Villivakkam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives the appropriate stamp duty and registration fees.

When buying or selling property, the guideline value helps in establishing a fair price for the transaction. Buyers should be aware that the stamp duty and registration fees will be calculated based on the higher of the guideline value or the sale price, which can impact the overall cost of the transaction.

Frequently asked questions

What is the current guideline value of LAKSHMIPURAM 3rd STREET?

The current guideline value of LAKSHMIPURAM 3rd STREET is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 486 per sq.ft in 2002 to Rs 3,300 per sq.ft in 2024, representing an overall increase of 579% over the years.

Which Sub Registrar Office covers LAKSHMIPURAM 3rd STREET?

The Villivakkam Sub Registrar Office covers LAKSHMIPURAM 3rd STREET, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.

What are the stamp duty and registration fees for a property in LAKSHMIPURAM 3rd STREET?

For a 1,000 sq.ft plot, the total guideline value is Rs 33,00,000, with a stamp duty of Rs 2,31,000 and a registration fee of Rs 66,000, totaling Rs 2,97,000.

What is the land classification of LAKSHMIPURAM 3rd STREET?

LAKSHMIPURAM 3rd STREET is classified as Residential Class IV Type - II.