Guideline Value for LAKSHMIPURAM LANE

Lakshmipuram Lane guideline value

The current guideline value of Lakshmipuram Lane is Rs 2,700 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 - III.

How the guideline value of Lakshmipuram Lane has changed

The guideline value for Lakshmipuram Lane has undergone several revisions over the years. The 2012 revision set the value at Rs 2,500 per sq.ft, which then decreased to Rs 1,675 per sq.ft in the 2017 revision. Following this, the value saw a significant increase to Rs 2,500 per sq.ft in the 2023 revision, and further increased to Rs 2,700 per sq.ft in the 2024 revision, marking an 8% rise from the previous year.

From 2017 to 2023, the guideline value rose by 49%, while the change from 2012 to 2017 was a decrease of 33%. Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 8%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Villivakkam

In Villivakkam, there are a total of 372 streets under the Villivakkam SRO with 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, indicating that the guideline value of Lakshmipuram Lane is below this median.

• Lakshmipuram Extn: Rs 3,300 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 Lane

For a 1,000 sq.ft plot at the current guideline value of Rs 2,700 per sq.ft, the total guideline value would be Rs 27,00,000. The stamp duty at 7% would amount to Rs 1,89,000, and the registration fee at 2% would be Rs 54,000, bringing the total charges to Rs 2,43,000. It is important to note that duty is charged on the higher of the guideline value and the sale price.

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

Which Sub Registrar Office covers Lakshmipuram Lane?

The Sub Registrar Office that covers Lakshmipuram Lane 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 details.

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

The guideline value is a crucial factor during the registration of property transactions in Villivakkam. It serves as a benchmark for determining the stamp duty and registration fees applicable to the property being bought or sold.

When buying or selling property, it is essential to be aware of the guideline value, as it may affect the overall cost of the transaction. The higher of the guideline value and the sale price will be used to calculate the applicable duties and fees.

Frequently asked questions

What is the current guideline value of Lakshmipuram Lane?

The current guideline value of Lakshmipuram Lane is Rs 2,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,500 per sq.ft in 2023 to Rs 2,700 per sq.ft in 2024, an increase of 8%. From 2017 to 2023, it rose by 49%, while it decreased from Rs 2,500 per sq.ft in 2012 to Rs 1,675 per sq.ft in 2017.

What is the land classification of Lakshmipuram Lane?

Lakshmipuram Lane is classified as Residential Class IV Type - III according to the local guidelines.

What is the stamp duty rate for properties in Lakshmipuram Lane?

The stamp duty rate for properties in Lakshmipuram Lane is 7% of the guideline value or the sale price, whichever is higher.

Where is the Villivakkam Sub Registrar Office located?

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