Guideline Value for Lakshmana Perumal Nagar 5th Cross Street

Lakshmana Perumal Nagar 5th Cross Street guideline value

The current guideline value for Lakshmana Perumal Nagar 5th Cross Street is Rs 4,400 per sq.ft, effective from 1 July 2024. This street is located in Kottivakkam village and falls under the Adayar SRO. The land classification for this area is Residential Class I Type - I.

How the guideline value of Lakshmana Perumal Nagar 5th Cross Street has changed

Over the years, the guideline value for Lakshmana Perumal Nagar 5th Cross Street has seen significant changes. The register shows that in 2002, the guideline value was Rs 510 per sq.ft. This increased to Rs 606 per sq.ft in 2003, marking a rise of 19%. The value then experienced a dramatic increase to Rs 3,000 per sq.ft in 2007, which is a substantial jump of 395%. Following that, the value was Rs 4,000 per sq.ft in 2012, reflecting a 33% increase. However, it decreased to Rs 2,680 per sq.ft in 2017, a decline of 33%. In 2023, the value rose again to Rs 4,000 per sq.ft, and the most recent revision in 2024 set the value at Rs 4,400 per sq.ft, representing a 10% increase from the previous year.

The overall change from 2002 to 2024 shows an increase of 763% in the guideline value for this street.

Guideline values in Kottivakkam

Kottivakkam village has a total of 284 streets under the Adayar SRO, with guideline values ranging from Rs 1,700 to Rs 8,500 per sq.ft. The median value in this area is Rs 3,900 per sq.ft, indicating that the guideline value for Lakshmana Perumal Nagar 5th Cross Street is above this median.

• Lakshmana Perumal Nagar 4th Cross Street: Rs 4,400 per sq.ft (2024)
• Lakshmana Perumal Nagar First Street: Rs 4,400 per sq.ft (2024)
• Lakshmana Perumal Nagar 3rd Street: Rs 4,400 per sq.ft (2024)
• Lakshmana Perumal Nagar Jaganathan Street: Rs 4,400 per sq.ft (2024)
• Lakshmana Perumal Nagar 2nd Street: Rs 4,400 per sq.ft (2024)
• Lakshmana Perumal Nagar Main road: Rs 4,400 per sq.ft (2024)

Stamp duty and registration fee for property in Lakshmana Perumal Nagar 5th Cross 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 and the sale price.

For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Lakshmana Perumal Nagar 5th Cross Street?

The Adayar Sub Registrar Office covers Lakshmana Perumal Nagar 5th Cross Street. The office is located at 51, Kamaraj Avenue, Second Street, Adyar, Chennai-20. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Kottivakkam. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction.

When a property is registered, the guideline value is compared to the sale price, and the higher value is used to calculate the applicable duties and fees. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value for Lakshmana Perumal Nagar 5th Cross Street?

The current guideline value for Lakshmana Perumal Nagar 5th Cross 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, starting from Rs 510 per sq.ft in 2002 and reaching Rs 4,400 per sq.ft in 2024, which is an overall increase of 763%.

What is the median guideline value in Kottivakkam?

The median guideline value in Kottivakkam is Rs 3,900 per sq.ft, indicating that Lakshmana Perumal Nagar 5th Cross Street's value is above this median.

What are the stamp duty and registration fees for properties in this area?

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.

Where is the Adayar Sub Registrar Office located?

The Adayar Sub Registrar Office is located at 51, Kamaraj Avenue, Second Street, Adyar, Chennai-20.