Guideline Value for Lakshmana Perumal Raja Street

Lakshmana Perumal Raja Street guideline value

The current guideline value of Lakshmana Perumal Raja Street is Rs 4,400 per sq.ft. This street is located in Kottivakkam village under the Adayar SRO, classified as Residential Class I Type - I.

How the guideline value of Lakshmana Perumal Raja Street has changed

The guideline value for Lakshmana Perumal Raja Street has seen several revisions over the years. In 2002, the value was Rs 639 per sq.ft, which increased to Rs 760 per sq.ft in 2003, marking a 19% rise. The value then experienced a significant increase to Rs 3,000 per sq.ft in 2007, an increase of 295%. Following this, the value was revised to Rs 4,000 per sq.ft in 2012, reflecting a decrease of 33%. The next revision in 2017 brought the value up to Rs 2,680 per sq.ft, which was a 49% increase from the previous figure in 2012. The most recent revision in 2023 set the value at Rs 4,000 per sq.ft, followed by the current value of Rs 4,400 per sq.ft effective from 1 July 2024, which is a 10% increase.

There are no figures available for the revisions in the years not listed. Overall, from 2002 to 2024, the guideline value has increased by 589%.

Guideline values in Kottivakkam

In Kottivakkam, there are 284 streets under the Adayar SRO with a 2024 guideline value ranging from Rs 1,700 to Rs 8,500 per sq.ft. The median value is Rs 3,900 per sq.ft, placing Lakshmana Perumal Raja Street above this median.

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

Stamp duty and registration fee for property in Lakshmana Perumal Raja 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 amount to 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 guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for further calculations.

Which Sub Registrar Office covers Lakshmana Perumal Raja Street?

The Sub Registrar Office that covers Lakshmana Perumal Raja 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 crucial factor in the registration process when buying or selling property in Kottivakkam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that transactions are conducted fairly and transparently.

When a property is sold, the buyer must pay stamp duty and registration fees based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Lakshmana Perumal Raja Street?

The current guideline value of Lakshmana Perumal Raja 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 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 Raja Street's current value being above this median.

What are the stamp duty rates for properties in Kottivakkam?

The stamp duty rate for properties in Kottivakkam is 7%, while the registration fee is 2% of the guideline value or sale price, whichever is higher.

Where is the Adayar Sub Registrar Office located?

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