Guideline Value for Lakshmi Amman Koil 2nd Lane

Lakshmi Amman Koil 2nd Lane guideline value

The current guideline value for Lakshmi Amman Koil 2nd Lane in Puzhal village is Rs 1,650 per sq.ft, effective from 1 July 2024. This street falls under the Redhills SRO and is classified as Residential Class I Type - I.

How the guideline value of Lakshmi Amman Koil 2nd Lane has changed

The guideline value for Lakshmi Amman Koil 2nd Lane has seen significant changes over the years. In 2003, the value was Rs 91 per sq.ft, which increased to Rs 400 per sq.ft in 2007. This was followed by a substantial rise to Rs 1,500 per sq.ft in 2012, but it then dropped to Rs 1,005 per sq.ft in 2017. The 2023 revision set the value at Rs 1,500 per sq.ft, and the most recent revision in 2024 has increased it to Rs 1,650 per sq.ft, marking a 10% increase from the previous year.

From 2017 to 2023, there was a notable increase of 49%. The 2012 to 2017 period saw a decrease of 33%. The value surged dramatically from Rs 400 per sq.ft in 2007 to Rs 1,500 per sq.ft in 2012, which is an increase of 275%. The increase from 2003 to 2007 was even more pronounced at 340%. Overall, from 2003 to 2024, the guideline value has risen by 1713%. The register has no figure for this street in 2002.

Guideline values in Puzhal

In Puzhal, there are 270 streets under the Redhills SRO with a 2024 guideline value ranging from Rs 1,100 to Rs 6,000 per sq.ft. The median value for these streets is Rs 1,102 per sq.ft, making the guideline value for Lakshmi Amman Koil 2nd Lane above that median.

• Lakshmiamman Koil 1st Street: Rs 1,650 per sq.ft (2024)
• Lakshmiamman Koil 2nd Street: Rs 1,650 per sq.ft (2024)
• Lakshmi Amman Koil 3rd Lane: Rs 1,650 per sq.ft (2024)
• Lakshmiamman Koil 3rd Street: Rs 1,650 per sq.ft (2024)
• Lakshmi Amman Koil First Lane: Rs 1,650 per sq.ft (2024)
• Lakshmiamman Koil Street: Rs 1,650 per sq.ft (2024)

Stamp duty and registration fee for property in Lakshmi Amman Koil 2nd Lane

For a 1,000 sq.ft plot at the current guideline value of Rs 1,650 per sq.ft, the total guideline value amounts to Rs 16,50,000. The stamp duty at 7% would be Rs 1,15,500, and the registration fee at 2% would be Rs 33,000, bringing the total cost for these fees to Rs 1,48,500. 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 precise calculations based on your property details.

Which Sub Registrar Office covers Lakshmi Amman Koil 2nd Lane?

The Lakshmi Amman Koil 2nd Lane is covered by the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Puzhal. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is documented accurately.

When a property is sold, the guideline value helps in calculating the stamp duty and registration fees, which are necessary for the legal transfer of ownership. Buyers and sellers must be aware of these values to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value for Lakshmi Amman Koil 2nd Lane?

The current guideline value for Lakshmi Amman Koil 2nd Lane is Rs 1,650 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 91 per sq.ft in 2003 to Rs 1,650 per sq.ft in 2024. The value has seen both increases and decreases across various revisions.

What is the registration office for Lakshmi Amman Koil 2nd Lane?

The registration office for Lakshmi Amman Koil 2nd Lane is the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.

How is stamp duty calculated for properties in Lakshmi Amman Koil 2nd Lane?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a plot valued at Rs 16,50,000, the stamp duty would be Rs 1,15,500 at 7%.

What are the other streets in Puzhal with the same guideline value?

Other streets in Puzhal with a guideline value of Rs 1,650 per sq.ft include Lakshmiamman Koil 1st Street, Lakshmiamman Koil 2nd Street, Lakshmi Amman Koil 3rd Lane, Lakshmiamman Koil 3rd Street, Lakshmi Amman Koil First Lane, and Lakshmiamman Koil Street.