Guideline Value for LAKSHMIPURAM EXTN

Lakshmipuram Extn guideline value

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

How the guideline value of Lakshmipuram Extn has changed

Over the years, the guideline value for Lakshmipuram Extn has seen several revisions. The most recent revision in 2024 set the guideline value at Rs 3,300 per sq.ft, an increase from Rs 3,000 per sq.ft in 2023. Prior to that, the 2017 revision recorded a value of Rs 2,010 per sq.ft, which was a significant increase of 49% from the previous figure of Rs 3,000 per sq.ft in 2012. It is important to note that the register has no figure for this street for the years 2002, 2003, and 2007.

From 2012 to 2017, the value decreased by 33%, resulting in Rs 2,010 per sq.ft. When considering the overall change from 2012 to 2024, the guideline value has increased by 10% from Rs 3,000 per sq.ft to Rs 3,300 per sq.ft.

Guideline values in Villivakkam

In Villivakkam, there are 372 streets under the Villivakkam SRO with a guideline value for 2024 ranging from Rs 1,600 to Rs 13,200 per sq.ft. The median guideline value is Rs 4,900 per sq.ft, placing the 2024 figure for Lakshmipuram Extn below this median.

• Lakshmipuram Lane: Rs 2,700 per sq.ft (2024)
• Lakshmipuram N.R.N.Street: Rs 3,300 per sq.ft (2024)
• Lakshmi Street: Rs 3,300 per sq.ft (2024)
• Lakshmi Street (Near Agathiyar Nagar): Rs 3,300 per sq.ft (2024)
• Lakshmipuram 4th Street: Rs 3,300 per sq.ft (2024)
• LAKSHMIPURAM 3rd STREET: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Lakshmipuram Extn

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 at 7% would be Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, bringing the total cost to Rs 2,97,000. It is important to 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 detailed calculations.

Which Sub Registrar Office covers Lakshmipuram Extn?

The Sub Registrar Office that covers Lakshmipuram Extn is the Villivakkam Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037 (Near By Nolambur Eb Office). You can find your SRO for more information.

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

The guideline value is an essential reference for determining the value of property transactions in Villivakkam. It is used by the registration department to assess the stamp duty and registration fees applicable to a property sale, ensuring that the transaction is recorded at a fair value.

When buying or selling property, the guideline value helps establish a baseline for negotiations and legal documentation. It is crucial for buyers and sellers to be aware of the current guideline value to understand their financial obligations during the registration process.

Frequently asked questions

What is the current guideline value of Lakshmipuram Extn?

The current guideline value of Lakshmipuram Extn 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 2023 to Rs 3,300 per sq.ft in 2024. It was Rs 2,010 per sq.ft in 2017 and Rs 3,000 per sq.ft in 2012.

What is the land classification for Lakshmipuram Extn?

Lakshmipuram Extn is classified as Residential Class IV Type - II.

Where can I find the Sub Registrar Office for Lakshmipuram Extn?

The Sub Registrar Office for Lakshmipuram Extn is located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.

How is stamp duty calculated for property transactions?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, on a property valued at Rs 33,00,000, the stamp duty would be calculated at 7% of that amount.