Guideline Value for Lakshmana Perumal Nagar 3rd Street

Lakshmana Perumal Nagar 3rd Street guideline value

The current guideline value of Lakshmana Perumal Nagar 3rd 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 3rd Street has changed

The guideline value for Lakshmana Perumal Nagar 3rd Street has seen significant changes over the years. The earliest recorded figure is from 2002, where the guideline value was Rs 639 per sq.ft. This increased to Rs 760 per sq.ft in 2003, marking a 19% rise. The value continued to rise dramatically, reaching Rs 3,000 per sq.ft in 2007, which was an increase of 295% from the previous figure. In 2012, the value adjusted slightly to Rs 4,000 per sq.ft, reflecting a decrease of 33% from 2007. The guideline value then rose again to Rs 2,680 per sq.ft in 2017, representing a 49% increase from 2012. The most recent revision in 2023 set the value at Rs 4,000 per sq.ft, before the current figure of Rs 4,400 per sq.ft in 2024, which is a 10% increase.

There are no recorded figures for the years not listed in the register for Lakshmana Perumal Nagar 3rd Street.

Guideline values in Kottivakkam

Kottivakkam has a total of 284 streets under the Adayar SRO with a 2024 guideline value range 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 3rd Street above this median.

• Lakshmana Perumal Nagar 2nd Street: Rs 4,400 per sq.ft (2024)
• Lakshmana Perumal Nagar 4th Cross Street: Rs 4,400 per sq.ft (2024)
• Lakshmana Perumal Krishnan Street: Rs 4,400 per sq.ft (2024)
• Lakshmana Perumal Nagar 5th Cross Street: Rs 4,400 per sq.ft (2024)
• Lakshmana Perumal Kalyani Street: Rs 4,400 per sq.ft (2024)
• Lakshmana Perumal Nagar First Street: Rs 4,400 per sq.ft (2024)

Stamp duty and registration fee for property in Lakshmana Perumal Nagar 3rd Street

For a 1,000 sq.ft plot at the current guideline value of Rs 4,400 per sq.ft, the total guideline value would be 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 the stamp duty and registration fee calculator for further assistance.

Which Sub Registrar Office covers Lakshmana Perumal Nagar 3rd Street?

The Sub Registrar Office that covers Lakshmana Perumal Nagar 3rd 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 during the registration of 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. The guideline value ensures that the government receives appropriate revenue from property transactions.

When you engage in a property transaction, the guideline value is compared with the sale price. The higher value is used to calculate the applicable stamp duty and registration fees, ensuring that the transaction is recorded accurately in the government’s records.

Frequently asked questions

What is the current guideline value of Lakshmana Perumal Nagar 3rd Street?

The current guideline value of Lakshmana Perumal Nagar 3rd 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 increased from Rs 639 per sq.ft in 2002 to Rs 4,400 per sq.ft in 2024, showing an overall increase of 589% over the years.

What is the median guideline value in Kottivakkam?

The median guideline value in Kottivakkam is Rs 3,900 per sq.ft. Lakshmana Perumal Nagar 3rd Street's 2024 value is above this median.

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

Stamp duty is charged at 7% of the guideline value or sale price, whichever is higher, while the registration fee is charged at 2%. For example, a 1,000 sq.ft plot would incur a total of Rs 3,96,000 in fees based on the current guideline value.

Where is the Sub Registrar Office located for Lakshmana Perumal Nagar 3rd Street?

The Adayar Sub Registrar Office is located at 51, Kamaraj Avenue, Second Street, Adyar, Chennai-20. This office handles the registration of properties in the area.