Guideline Value for LAKSHMIPURAM COLONY ROAD

Lakshmipuram Colony Road guideline value

The current guideline value of Lakshmipuram Colony Road is Rs 550 per sq.ft, effective from 1 July 2024. This road is located in Minjur village under the Ponneri Sub Registrar Office (SRO) and falls under the Residential Class II Type - I land classification.

How the guideline value of Lakshmipuram Colony Road has changed

The guideline value for Lakshmipuram Colony Road has seen several revisions over the years. The 2017 revision set the value at Rs 335 per sq.ft, which increased significantly to Rs 500 per sq.ft in the 2023 revision. The latest revision in 2024 has raised the value further to Rs 550 per sq.ft, marking a 10% increase from the previous year. The overall increase from 2017 to 2024 is 64%.

There are no figures available for the revisions in 2002, 2003, 2007, and 2012 for this street. The substantial increase from Rs 335 per sq.ft in 2017 to Rs 550 per sq.ft in 2024 reflects a 49% rise from 2023 to 2024 and a 64% increase overall since 2017.

Guideline values in Minjur

In Minjur, there are 179 streets under the Ponneri SRO that carry a 2024 guideline value ranging from Rs 440 to Rs 1,320 per sq.ft, with the median value being Rs 550 per sq.ft. The guideline value for Lakshmipuram Colony Road is equal to this median.

• Lakshmipuram Adi Dravidar Colony: Rs 550 per sq.ft (2024)
• Lakshmipuram Main Road: Rs 550 per sq.ft (2024)
• Lakshmi Saraswathi Nagar: Rs 550 per sq.ft (2024)
• Lalbagadur Sasthri Main Road: Rs 550 per sq.ft (2024)
• Lalbagadur Sasthri Road: Rs 550 per sq.ft (2024)
• Lalbagadur Shastri West Road: Rs 550 per sq.ft (2024)

Stamp duty and registration fee for property in Lakshmipuram Colony Road

For a 1,000 sq.ft plot at the current guideline value of Rs 550 per sq.ft, the total guideline value amounts to Rs 5,50,000. The stamp duty at 7% would be Rs 38,500, and the registration fee at 2% would be Rs 11,000, bringing the total cost together to Rs 49,500. It is essential to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Lakshmipuram Colony Road?

The Lakshmipuram Colony Road is covered by the Ponneri Sub Registrar Office, located at 9/5, Taluk Office Road, Ponneri, Chennai-601204. You can find your SRO for more information.

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

The guideline value is a crucial factor during property transactions in Minjur, as it determines the minimum value at which a property can be registered. Buyers and sellers must consider the guideline value to ensure compliance with registration norms and to calculate applicable fees.

When registering a property, the guideline value is used to assess the stamp duty and registration fees, which are based on this value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Lakshmipuram Colony Road?

The current guideline value of Lakshmipuram Colony Road is Rs 550 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 335 per sq.ft in 2017 to Rs 550 per sq.ft in 2024, reflecting a total increase of 64% over the seven years.

What is the land classification for Lakshmipuram Colony Road?

Lakshmipuram Colony Road is classified under Residential Class II Type - I.

What are the stamp duty and registration fees for properties here?

For a property valued at Rs 5,50,000, the stamp duty would be Rs 38,500 and the registration fee would be Rs 11,000, totaling Rs 49,500.

Where is the Ponneri Sub Registrar Office located?

The Ponneri Sub Registrar Office is located at 9/5, Taluk Office Road, Ponneri, Chennai-601204.