Guideline Value for Lakshmi Amman Koil First Lane

Lakshmi Amman Koil First Lane guideline value

The current guideline value of Lakshmi Amman Koil First Lane is Rs 1,650 per sq.ft, effective from 1 July 2024. This street is located in Puzhal village and falls under the Redhills SRO. The land classification for this area is Residential Class I Type - I.

How the guideline value of Lakshmi Amman Koil First Lane has changed

The guideline value for Lakshmi Amman Koil First Lane has undergone several revisions over the years. The earliest recorded figure is from 2003, where the value was Rs 91 per sq.ft. This increased significantly to Rs 400 per sq.ft in 2007, followed by a substantial rise to Rs 1,500 per sq.ft in 2012. However, there was a decline to Rs 1,005 per sq.ft in 2017. The value then increased to Rs 1,500 per sq.ft in 2023, and finally, it reached Rs 1,650 per sq.ft in the 2024 revision.

Between the revisions, there have been notable changes. From 2003 to 2007, the value increased by 340%. The value then saw a 275% increase from 2007 to 2012, followed by a 33% decrease from 2012 to 2017. The value rose by 49% from 2017 to 2023, and there was a further increase of 10% from 2023 to 2024. Overall, from 2003 to 2024, the guideline value has increased by 1713%.

Guideline values in Puzhal

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

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

Stamp duty and registration fee for property in Lakshmi Amman Koil First 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 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 details.

Which Sub Registrar Office covers Lakshmi Amman Koil First Lane?

The Sub Registrar Office that covers Lakshmi Amman Koil First Lane is the Redhills Sub Registrar Office. The address is 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 critical factor in the registration process of property transactions in Puzhal. It serves as the basis for calculating stamp duty and registration fees, ensuring that both buyers and sellers comply with the legal requirements during the transfer of property ownership.

When buying or selling property, it is essential to be aware of the current guideline value, as it influences the overall cost of the transaction. Buyers should ensure that they are prepared for the associated fees based on the guideline value to avoid any surprises during the registration process.

Frequently asked questions

What is the current guideline value of Lakshmi Amman Koil First Lane?

The current guideline value of Lakshmi Amman Koil First 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 from Rs 91 per sq.ft in 2003 to Rs 1,650 per sq.ft in 2024, reflecting an overall increase of 1713% over the years.

What are the stamp duty and registration fees for property in Lakshmi Amman Koil First Lane?

For a 1,000 sq.ft plot, the total guideline value is Rs 16,50,000. The stamp duty would be Rs 1,15,500, and the registration fee would be Rs 33,000, totaling Rs 1,48,500.

Which Sub Registrar Office covers this area?

The Redhills Sub Registrar Office covers Lakshmi Amman Koil First Lane, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.

What is the land classification of Lakshmi Amman Koil First Lane?

The land classification for Lakshmi Amman Koil First Lane is Residential Class I Type - I.