Guideline Value for LAKSHMIPURAM 4TH STREET

Lakshmipuram 4th Street guideline value

The current guideline value of Lakshmipuram 4th Street is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Villivakkam village, under the Villivakkam SRO, and is classified as Residential Class IV Type - II.

How the guideline value of Lakshmipuram 4th Street has changed

The guideline value has seen several revisions over the years. The earliest recorded figure is from 2012, set at Rs 3,000 per sq.ft. In 2017, this value decreased to Rs 2,010 per sq.ft, marking a decline of 33%. The value then increased to Rs 3,000 per sq.ft in 2023, followed by a rise to the current value of Rs 3,300 per sq.ft in 2024, which is a 10% increase from the previous year.

From 2012 to 2024, the overall change in guideline value is a 10% increase. The revision from 2017 to 2023 saw a significant increase of 49%, while the transition from 2023 to 2024 reflects a 10% rise. The register does not contain figures for the years 2002, 2003, and 2007 for this street.

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. The median value for these streets is Rs 4,900 per sq.ft, placing Lakshmipuram 4th Street's 2024 figure below that median.

• LAKSHMIPURAM 3rd STREET: Rs 3,300 per sq.ft (2024)
• LAKSHMIPURAM 2nd 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 4th Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value amounts to Rs 33,00,000. The stamp duty, calculated at 7%, would be Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, bringing the total to Rs 2,97,000. It is important to 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 Villivakkam Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office. You can find your SRO for more information.

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

When buying or selling property in Villivakkam, the guideline value is a critical factor in determining the applicable stamp duty and registration fees. This value is used as a benchmark to assess the property’s worth for registration purposes.

It is essential for buyers and sellers to be aware of the guideline value, as it directly impacts the financial obligations during the transaction. Accurate knowledge of these values ensures compliance with local regulations and helps in planning the financial aspects of property transactions.

Frequently asked questions

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

The current guideline value of Lakshmipuram 4th 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 changed from Rs 3,000 per sq.ft in 2012 to Rs 2,010 per sq.ft in 2017, then back to Rs 3,000 in 2023, and currently stands at Rs 3,300 in 2024.

What is the land classification of Lakshmipuram 4th Street?

Lakshmipuram 4th Street is classified as Residential Class IV Type - II.

What are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 33,00,000, the stamp duty is Rs 2,31,000 and the registration fee is Rs 66,000, totaling Rs 2,97,000.

Where is the Sub Registrar Office located for this street?

The Villivakkam Sub Registrar Office is located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office.