Guideline Value for LAKSHMIPURAM 6TH STREET

Lakshmipuram 6th Street guideline value

The current guideline value of Lakshmipuram 6th Street is Rs 9,900 per sq.ft, effective from 1 July 2024. This street is located in Thiruvanmiyur village and falls under the Chennai South Joint I SRO. The land classification for this area is Residential Class I Type - I.

How the guideline value of Lakshmipuram 6th Street has changed

The guideline value for Lakshmipuram 6th Street has seen significant changes over the years. In 2002, the guideline value 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 dramatically to Rs 3,000 per sq.ft in 2007, reflecting a 136% increase. Following this, the 2012 revision saw the value drop to Rs 9,000 per sq.ft, a decrease of 33%. The value then increased to Rs 6,030 per sq.ft in 2017, representing a 49% rise. The most recent revision in 2023 set the value at Rs 9,000 per sq.ft, which was then raised to Rs 9,900 per sq.ft in 2024, a 10% increase.

Overall, from 2002 to 2024, the guideline value has increased by 760%. It is important to note that there are no figures available for the years not listed in the register for this street.

Guideline values in Thiruvanmiyur

In Thiruvanmiyur, there are 484 streets under the Chennai South Joint I SRO that have a 2024 guideline value ranging from Rs 3,520 to Rs 12,660 per sq.ft. The median guideline value is Rs 9,900 per sq.ft, which is the same as the guideline value for Lakshmipuram 6th Street.

• Lakshmipuram 5th 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 6th 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, bringing the total to Rs 8,91,000. It is important to note that duty is charged on the higher of the guideline value and the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Lakshmipuram 6th Street?

The Sub Registrar Office that covers Lakshmipuram 6th 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 a crucial factor when registering property transactions in Thiruvanmiyur. It serves as a benchmark for determining the stamp duty and registration fees applicable during the registration process. Buyers and sellers must consider this value to ensure compliance with local regulations.

When a property is sold, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties. This ensures that all transactions are fairly assessed according to the established guidelines.

Frequently asked questions

What is the current guideline value of Lakshmipuram 6th Street?

The current guideline value of Lakshmipuram 6th 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 the years.

What is the median guideline value in Thiruvanmiyur?

The median guideline value in Thiruvanmiyur is Rs 9,900 per sq.ft, which is the same as the guideline value for Lakshmipuram 6th Street.

What are the stamp duty and registration fees for properties in Lakshmipuram 6th Street?

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 6th Street?

The Chennai South Joint I Sub Registrar Office handles registrations for Lakshmipuram 6th Street, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035.