Guideline Value for Lakshmanapuram

Lakshmanapuram guideline value

The current guideline value of Lakshmanapuram is Rs 2,200 per sq.ft, effective from 1 July 2024. This area is located in Ambattur village, under the Ambattur SRO, classified as Residential Class IV Type - I.

How the guideline value of Lakshmanapuram has changed

The guideline value for Lakshmanapuram has seen several revisions over the years. The 2012 revision set the value at Rs 2,000 per sq.ft, which was later reduced to Rs 1,340 per sq.ft in 2017. Following this, the 2023 revision increased the value to Rs 2,000 per sq.ft, and the latest revision in 2024 raised it to Rs 2,200 per sq.ft.

From 2017 to 2023, the guideline value increased by 49%, while the change from 2023 to 2024 was a 10% increase. Overall, from 2012 to 2024, the guideline value has increased by 10%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Ambattur

In Ambattur, there are 448 streets under the Ambattur SRO that carry a 2024 guideline value, ranging from Rs 1,400 to Rs 8,209 per sq.ft. The median guideline value for these streets is Rs 3,600 per sq.ft, placing Lakshmanapuram's 2024 figure below this median.

• Kupusamy Street: Rs 3,600 per sq.ft (2024)
• Kumarasamy Nagar: Rs 4,000 per sq.ft (2024)
• Kumarasamy Muthali Street: Rs 4,000 per sq.ft (2024)
• Lal bagadur Street: Rs 3,600 per sq.ft (2024)
• L.I.C Colony: Rs 4,000 per sq.ft (2024)
• Loganathan Street: Rs 4,600 per sq.ft (2024)

Stamp duty and registration fee for property in Lakshmanapuram

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value amounts to Rs 22,00,000. The stamp duty at 7% would be Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, together totaling Rs 1,98,000. 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 details.

Which Sub Registrar Office covers Lakshmanapuram?

The Sub Registrar Office that covers Lakshmanapuram is the Ambattur Sub Registrar Office, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor during property registration in Ambattur. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring transparency in property transactions.

When buying or selling property, the guideline value helps in calculating the stamp duty and registration fees, which are necessary for the legal transfer of property ownership. It is essential for both buyers and sellers to be aware of the current guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Lakshmanapuram?

The current guideline value of Lakshmanapuram is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has undergone several revisions, with the most recent being Rs 2,200 per sq.ft in 2024, up from Rs 2,000 per sq.ft in 2023. The value was Rs 1,340 per sq.ft in 2017 and Rs 2,000 per sq.ft in 2012.

What is the land classification for Lakshmanapuram?

Lakshmanapuram is classified as Residential Class IV Type - I, which indicates its use for residential purposes.

Where can I find the Sub Registrar Office for Lakshmanapuram?

The Sub Registrar Office for Lakshmanapuram is located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone.

How is stamp duty calculated for property in Lakshmanapuram?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, a property valued at Rs 22,00,000 would incur a stamp duty of Rs 1,54,000 at 7%.