Guideline Value for Lakshmana Perumal Nagar 2nd Street

Lakshmana Perumal Nagar 2nd Street guideline value

The current guideline value for Lakshmana Perumal Nagar 2nd Street is Rs 4,400 per sq.ft, effective from 1 July 2024. This street is located in Kottivakkam village, under the Adayar SRO, and is classified as Residential Class I Type - I.

How the guideline value of Lakshmana Perumal Nagar 2nd Street has changed

Over the years, the guideline value for Lakshmana Perumal Nagar 2nd Street has seen significant changes. The earliest recorded figure is from 2002, with a guideline value of Rs 639 per sq.ft. This value increased to Rs 760 per sq.ft in 2003, marking a 19% rise. The value then experienced a substantial increase of 295% to reach Rs 3,000 per sq.ft in 2007. Following this, the guideline value increased by 33% to Rs 4,000 per sq.ft in 2012. However, it then decreased by 33% to Rs 2,680 per sq.ft in 2017. The value rebounded to Rs 4,000 per sq.ft in 2023, before reaching the current figure of Rs 4,400 per sq.ft in 2024, which is a 10% increase from the previous year.

In summary, the guideline value has changed from Rs 639 per sq.ft in 2002 to Rs 4,400 per sq.ft in 2024, reflecting an overall increase of 589% over this period. There are no figures available for the revisions in years not listed above.

Guideline values in Kottivakkam

In Kottivakkam, there are 284 streets under the Adayar SRO that carry a 2024 guideline value ranging from Rs 1,700 to Rs 8,500 per sq.ft. The median guideline value in this area is Rs 3,900 per sq.ft, placing Lakshmana Perumal Nagar 2nd Street's current value above the median.

• Lakshmana Perumal Krishnan Street: Rs 4,400 per sq.ft (2024)
• Lakshmana Perumal Nagar 3rd Street: Rs 4,400 per sq.ft (2024)
• Lakshmana Perumal Kalyani Street: Rs 4,400 per sq.ft (2024)
• Lakshmana Perumal Nagar 4th Cross Street: Rs 4,400 per sq.ft (2024)
• Lakshmana Perumal Kalyani Cross Street: Rs 4,400 per sq.ft (2024)
• Lakshmana Perumal Nagar 5th Cross Street: Rs 4,400 per sq.ft (2024)

Stamp duty and registration fee for property in Lakshmana Perumal Nagar 2nd Street

For a 1,000 sq.ft plot at the current guideline value of Rs 4,400 per sq.ft, the total guideline value amounts to Rs 44,00,000. The stamp duty at 7% would be Rs 3,08,000, and the registration fee at 2% would be Rs 88,000, bringing the total to Rs 3,96,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Lakshmana Perumal Nagar 2nd Street?

The Sub Registrar Office that covers Lakshmana Perumal Nagar 2nd Street is the Adayar Sub Registrar Office, located at 51, Kamaraj Avenue, Second Street, Adyar, Chennai-20. For more information, you can find your SRO.

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

The guideline value is a crucial factor in property transactions in Kottivakkam. It is used to determine the stamp duty and registration fees that must be paid when a property is bought or sold. Buyers and sellers should be aware that the guideline value may differ from the actual sale price, and the higher of the two will be used to calculate the applicable fees.

When registering a property, it is essential to refer to the latest guideline value to ensure compliance with the legal requirements. This helps in avoiding any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Lakshmana Perumal Nagar 2nd Street?

The current guideline value for Lakshmana Perumal Nagar 2nd Street is Rs 4,400 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 639 per sq.ft in 2002 to Rs 4,400 per sq.ft in 2024, reflecting an overall increase of 589% over this period.

What is the median guideline value in Kottivakkam?

The median guideline value in Kottivakkam is Rs 3,900 per sq.ft, with Lakshmana Perumal Nagar 2nd Street's current value above this median.

What are the stamp duty and registration fees for property transactions?

For a property valued at Rs 44,00,000, the stamp duty would be Rs 3,08,000 and the registration fee would be Rs 88,000, totaling Rs 3,96,000.

Which office handles property registrations for Lakshmana Perumal Nagar 2nd Street?

The Adayar Sub Registrar Office handles property registrations for Lakshmana Perumal Nagar 2nd Street, located at 51, Kamaraj Avenue, Second Street, Adyar, Chennai-20.