Guideline Value for LAKSHMIPURAM 4TH STREET

Lakshmipuram 4th Street guideline value

The current guideline value of Lakshmipuram 4th 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 4th Street has changed

The guideline value for Lakshmipuram 4th Street has seen several revisions over the years. The earliest recorded figure is from 2002, which was Rs 1,151 per sq.ft. This value increased to Rs 1,273 per sq.ft in 2003, marking an 11% rise. The value then rose significantly to Rs 3,000 per sq.ft in 2007, reflecting a 136% increase. Following that, the guideline value experienced a remarkable increase to Rs 9,000 per sq.ft in 2012, which was a 200% jump. However, this value decreased to Rs 6,030 per sq.ft in 2017, representing a 33% decline. The value then increased to Rs 9,000 per sq.ft in 2023, before reaching the current figure of 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 years other than those listed.

Guideline values in Thiruvanmiyur

In Thiruvanmiyur village, 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 for these streets is Rs 9,900 per sq.ft, which is equal to the current value of Lakshmipuram 4th Street.

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

For a 1,000 sq.ft plot at the current guideline value of Rs 9,900 per sq.ft, the total guideline value amounts to Rs 99,00,000. The stamp duty, charged at 7%, would be Rs 6,93,000, and the registration fee at 2% would be Rs 1,98,000, making the total cost for these fees Rs 8,91,000. Please note that the duty is charged on the higher of the guideline value and the sale price. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Lakshmipuram 4th Street?

The Sub Registrar Office that covers Lakshmipuram 4th 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. To find your SRO, you can visit find your SRO.

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

The guideline value is an essential factor in the registration process when buying or selling property in Thiruvanmiyur. It serves as a benchmark for determining the stamp duty and registration fees, which are calculated based on this value or the sale price, whichever is higher.

When a property is sold, the guideline value ensures that the transaction is recorded accurately and that the appropriate taxes are collected. It helps maintain transparency in property transactions and provides a standard reference for both buyers and sellers.

Frequently asked questions

What is the current guideline value of Lakshmipuram 4th Street?

The current guideline value of Lakshmipuram 4th 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, reflecting an overall increase of 760% over this period.

What are the stamp duty and registration fees for property in Lakshmipuram 4th Street?

For a 1,000 sq.ft plot, the stamp duty would be Rs 6,93,000 and the registration fee would be Rs 1,98,000, totaling Rs 8,91,000 based on the current guideline value.

Which Sub Registrar Office is responsible for Lakshmipuram 4th Street?

The Chennai South Joint I Sub Registrar Office is responsible for Lakshmipuram 4th Street, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035.

What is the land classification for Lakshmipuram 4th Street?

Lakshmipuram 4th Street is classified as Residential Class I Type - I, indicating its designation for residential purposes within the Chennai South Joint I SRO.