Guideline Value for LAKSHMIPURAM MAIN ROAD

Lakshmipuram Main Road guideline value

The current guideline value of Lakshmipuram Main Road is Rs 5,000 per sq.ft, effective from 1 July 2024. This road is located in Puliyur village, under the Kodambakkam SRO, and is classified as Residential Class III Type - I.

How the guideline value of Lakshmipuram Main Road has changed

The guideline value for Lakshmipuram Main Road has seen several revisions over the years. Starting from Rs 672 per sq.ft in 2002, the value increased to Rs 738 per sq.ft in 2003, marking a 10% rise. The next revision in 2007 saw a significant jump to Rs 1,200 per sq.ft, which is an increase of 63%. By 2012, the value rose further to Rs 4,600 per sq.ft, reflecting a remarkable 283% increase from 2007. However, in 2017, the value decreased to Rs 3,082 per sq.ft, a decline of 33% from the previous revision. The latest revision in 2024 has set the guideline value at Rs 5,000 per sq.ft, which is a 62% increase from 2017.

It is important to note that there is no figure available for the year 2023 for this street in the register. Overall, from 2002 to 2024, the guideline value has increased by 644%.

Guideline values in Puliyur

In Puliyur village, there are 648 streets under the Kodambakkam SRO that have a 2024 guideline value ranging from Rs 3,300 to Rs 14,300 per sq.ft. The median value for these streets is Rs 5,800 per sq.ft, which indicates that Lakshmipuram Main Road's current guideline value is below this median.

• Lakshmi Narayanan Street: Rs 5,800 per sq.ft (2024)
• Lic Colony: Rs 4,600 per sq.ft (2024)
• Loganathan Nagar 1st Street: Rs 6,300 per sq.ft (2024)
• Loganathan Nagar 2nd Street: Rs 6,300 per sq.ft (2024)
• Loganathan Nagar 3rd Street: Rs 6,300 per sq.ft (2024)
• Loganathan Puram: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Lakshmipuram Main Road

For a 1,000 sq.ft plot at the current guideline value of Rs 5,000 per sq.ft, the total guideline value would be Rs 50,00,000. The stamp duty at 7% would amount to Rs 3,50,000, and the registration fee at 2% would be Rs 1,00,000, bringing the total cost for these fees to Rs 4,50,000. 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 precise calculations based on your property details.

Which Sub Registrar Office covers Lakshmipuram Main Road?

The Sub Registrar Office that covers Lakshmipuram Main Road is the Kodambakkam Sub Registrar Office, located at 2/31, Azhagiri Nagar 5th Street, Vadapalani, Chennai - 600 026. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions in Puliyur. It serves as a benchmark for determining the minimum value on which stamp duty and registration fees are calculated during the registration of property. Buyers and sellers must consider this value to ensure compliance with local regulations.

When a property is sold, the guideline value helps in establishing a fair transaction value, as it reflects the prevailing rates in the area. This value is particularly important for legal documentation and taxation purposes during the sale process.

Frequently asked questions

What is the current guideline value of Lakshmipuram Main Road?

The current guideline value of Lakshmipuram Main Road is Rs 5,000 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 672 per sq.ft in 2002 to Rs 5,000 per sq.ft in 2024, showing an overall increase of 644% over the years.

What is the land classification for Lakshmipuram Main Road?

Lakshmipuram Main Road is classified as Residential Class III Type - I.

Where is the Kodambakkam Sub Registrar Office located?

The Kodambakkam Sub Registrar Office is located at 2/31, Azhagiri Nagar 5th Street, Vadapalani, Chennai - 600 026.

How do I calculate stamp duty and registration fees?

Stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for accurate calculations.