Guideline Value for Lakshmi Amman 3rd Street

Lakshmi Amman 3rd Street guideline value

The current guideline value of Lakshmi Amman 3rd Street is Rs 3,000 per sq.ft, effective from 1 July 2024. This street is located in Erukancherry village under the Madhavaram SRO, classified as Residential Class I Type - I.

How the guideline value of Lakshmi Amman 3rd Street has changed

The guideline value for Lakshmi Amman 3rd Street has seen several revisions over the years. In 2012, the guideline value was Rs 2,800 per sq.ft. This figure remained unchanged until the next revision in 2017, where it dropped to Rs 1,876 per sq.ft. Following this, the value increased significantly to Rs 2,800 per sq.ft in 2023, and further rose to Rs 3,000 per sq.ft in 2024.

From 2012 to 2017, there was a decrease of 33%. However, from 2017 to 2023, the value increased by 49%. The most recent change from 2023 to 2024 reflects an increase of 7%. Overall, from 2012 to 2024, the guideline value has increased by 7%.

Guideline values in Erukancherry

In Erukancherry, there are 376 streets under the Madhavaram SRO, with guideline values ranging from Rs 1,900 to Rs 3,800 per sq.ft. The median guideline value for these streets is Rs 2,500 per sq.ft, making the 2024 figure for Lakshmi Amman 3rd Street above that median.

• Lakshmi Amman 2nd Street: Rs 3,000 per sq.ft (2024)
• Lakshmi Amman 1st Street: Rs 3,000 per sq.ft (2024)
• Lakshmi Amman Koil Street: Rs 3,000 per sq.ft (2024)
• Lakshmiamman Nagar 1st Cross Street: Rs 3,000 per sq.ft (2024)
• Kuppusamy Dasan Street: Rs 2,200 per sq.ft (2024)
• Kuppusamy Dasan 1st Street: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Lakshmi Amman 3rd Street

For a 1,000 sq.ft plot at the current rate of Rs 3,000 per sq.ft, the guideline value amounts to Rs 30,00,000. The stamp duty at 7% would be Rs 2,10,000, and the registration fee at 2% would be Rs 60,000, totaling Rs 2,70,000. It is important to note that duty is charged on the higher of the guideline value or the sale price.

For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Lakshmi Amman 3rd Street?

The Sub Registrar Office covering Lakshmi Amman 3rd Street is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find your SRO for more information.

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

The guideline value is a crucial factor when registering property transactions in Erukancherry. It determines the minimum value at which a property must be registered and is used to calculate stamp duty and registration fees.

Frequently asked questions

What is the current guideline value of Lakshmi Amman 3rd Street?

The current guideline value of Lakshmi Amman 3rd Street is Rs 3,000 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,800 per sq.ft in 2012 to Rs 1,876 per sq.ft in 2017, then increased to Rs 2,800 per sq.ft in 2023, and finally to Rs 3,000 per sq.ft in 2024.

What is the median guideline value in Erukancherry?

The median guideline value for streets in Erukancherry is Rs 2,500 per sq.ft, with Lakshmi Amman 3rd Street's 2024 figure being above this median.

What are the stamp duty and registration fees for a property in Lakshmi Amman 3rd Street?

For a property valued at Rs 30,00,000, the stamp duty would be Rs 2,10,000, and the registration fee would be Rs 60,000, totaling Rs 2,70,000.

Where is the Sub Registrar Office for Lakshmi Amman 3rd Street located?

The Madhavaram Sub Registrar Office is located at No.7, Roja Nagar, Madhavaram, Chennai-600060, which covers Lakshmi Amman 3rd Street.