Guideline Value for LAKSHMIPURAM 5TH STREET

Lakshmipuram 5th Street guideline value

The current guideline value of Lakshmipuram 5th 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 5th Street has changed

The guideline value for Lakshmipuram 5th Street has seen significant changes over the years. In 2002, the value was Rs 1,151 per sq.ft. This increased to Rs 1,273 per sq.ft in 2003, marking an increase of 11%. The value continued to rise, reaching Rs 3,000 per sq.ft in 2007, which was a substantial increase of 136%. By 2012, the guideline value was Rs 9,000 per sq.ft, reflecting a remarkable growth of 200% from the previous revision. However, in 2017, the value dropped to Rs 6,030 per sq.ft, a decrease of 33%. The value then rose again 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 from the previous year.

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, 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 value is Rs 9,900 per sq.ft, which is the same as the guideline value for Lakshmipuram 5th Street.

• Lakshmipuram 6th Street: Rs 9,900 per sq.ft (2024)
• Lakshmipuram 4th Street: Rs 9,900 per sq.ft (2024)
• Lakshmipuram 3rd 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 5th 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. Please 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 more details.

Which Sub Registrar Office covers Lakshmipuram 5th Street?

The Sub Registrar Office that covers Lakshmipuram 5th 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 an important factor during the registration of property transactions in Thiruvanmiyur. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue from stamp duty and registration fees.

When buying or selling property, the guideline value helps both parties understand the value of the property in the eyes of the law. It is crucial for buyers to be aware of the guideline value to avoid overpaying for a property and to ensure compliance with local regulations during the registration process.

Frequently asked questions

What is the current guideline value of Lakshmipuram 5th Street?

The current guideline value of Lakshmipuram 5th 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, showing an overall increase of 760% over this period.

What is the land classification for Lakshmipuram 5th Street?

Lakshmipuram 5th Street is classified as Residential Class I Type - I.

What are the other streets in Thiruvanmiyur with the same guideline value?

Other streets in Thiruvanmiyur with the same guideline value of Rs 9,900 per sq.ft include Lakshmipuram 1st, 2nd, 3rd, 4th, and 6th Streets, as well as Lal Bahadur Sastri Street.

Where can I find the Sub Registrar Office for Lakshmipuram 5th Street?

The Sub Registrar Office for Lakshmipuram 5th 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.