Guideline Value for Lakshmana Perumal Nagar First Street

Lakshmana Perumal Nagar First Street guideline value

The current guideline value of Lakshmana Perumal Nagar First Street is Rs 4,400 per sq.ft. This street is located in Kottivakkam village, under the Adayar SRO, and falls under the Residential Class I Type - I land classification.

How the guideline value of Lakshmana Perumal Nagar First Street has changed

The guideline value for Lakshmana Perumal Nagar First Street has undergone several revisions over the years. Starting from Rs 639 per sq.ft in 2002, it increased to Rs 760 per sq.ft in 2003, marking a 19% rise. The value then saw a significant jump to Rs 3,000 per sq.ft in 2007, which is a 295% increase. In 2012, the value was recorded at Rs 4,000 per sq.ft, reflecting a 33% decrease from the previous revision.

From 2012 to 2017, the guideline value dropped to Rs 2,680 per sq.ft, which was a further decline of 33%. However, it rebounded to Rs 4,000 per sq.ft in 2023, showing a 49% increase. The most recent revision in 2024 set the current guideline value at Rs 4,400 per sq.ft, representing a 10% increase from 2023.

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 for these streets is Rs 3,900 per sq.ft, placing Lakshmana Perumal Nagar First Street above this median.

• Lakshmana Perumal Nagar 5th Cross Street: Rs 4,400 per sq.ft (2024)
• Lakshmana Perumal Nagar Jaganathan Street: Rs 4,400 per sq.ft (2024)
• Lakshmana Perumal Nagar 4th Cross Street: Rs 4,400 per sq.ft (2024)
• Lakshmana Perumal Nagar Main road: Rs 4,400 per sq.ft (2024)
• Lakshmana Perumal Nagar 3rd Street: Rs 4,400 per sq.ft (2024)
• Lakshmana Perumal Raja Street: Rs 4,400 per sq.ft (2024)

Stamp duty and registration fee for property in Lakshmana Perumal Nagar First 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 cost for these fees 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.

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

Which Sub Registrar Office covers Lakshmana Perumal Nagar First Street?

The Sub Registrar Office that covers Lakshmana Perumal Nagar First Street is the Adayar Sub Registrar Office, 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 critical factor in the registration process when buying or selling property in Kottivakkam. It serves as a benchmark for determining the minimum value at which the property can be registered, ensuring that the transaction is recorded accurately in the official registry.

When a property is sold, the guideline value is used to calculate the stamp duty and registration fees, which are essential costs that must be paid during the registration process. Buyers and sellers should be aware of these values to ensure compliance with local regulations.

Frequently asked questions

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

The current guideline value of Lakshmana Perumal Nagar First 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 seen various changes over the years, with the most recent increase being from Rs 4,000 per sq.ft in 2023 to Rs 4,400 per sq.ft in 2024, which is a 10% rise.

What is the land classification for Lakshmana Perumal Nagar First Street?

Lakshmana Perumal Nagar First Street falls under the Residential Class I Type - I land classification, indicating its suitability for residential purposes.

Where can I find the Adayar Sub Registrar Office?

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

How are stamp duty and registration fees calculated?

Stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 44,00,000, the total stamp duty and registration fees would amount to Rs 3,96,000.