Guideline Value for Lakshmi Amman Koil Street

Lakshmi Amman Koil Street guideline value

The current guideline value of Lakshmi Amman Koil Street is Rs 2,700 per sq.ft, effective from 1 July 2024. This street is located in Kodungaiyur village under the Madhavaram SRO, classified as Residential Class I Type - I.

How the guideline value of Lakshmi Amman Koil Street has changed

The guideline value for Lakshmi Amman Koil Street has undergone several revisions over the years. The 2012 revision set the value at Rs 2,500 per sq.ft, which was then decreased to Rs 1,675 per sq.ft in the 2017 revision. Following this, the current 2024 revision has increased the value to Rs 2,700 per sq.ft, marking a significant rise of 61% from the 2017 figure. Overall, from 2012 to 2024, the guideline value has increased by 8%.

It is important to note that the register has no figures for the years 2002, 2003, 2007, and 2023 for this street.

Guideline values in Kodungaiyur

In Kodungaiyur, there are 1,318 streets under the Madhavaram SRO that carry a 2024 guideline value ranging from Rs 1,900 to Rs 4,000 per sq.ft, with a median value of Rs 2,700 per sq.ft. Lakshmi Amman Koil Street's 2024 figure aligns with this median.

• Kurinji Nagar Cross Street: Rs 2,700 per sq.ft (2024)
• Kuravar Kudisai: Rs 2,200 per sq.ft (2024)
• Lakshmi Street: Rs 2,700 per sq.ft (2024)
• Lalbahadur Shastri Street: Rs 2,700 per sq.ft (2024)
• Kumaran Nagar (Koyyathoppu): Rs 2,700 per sq.ft (2024)
• Kumaran Nagar 2nd Street: Rs 2,700 per sq.ft (2024)

Stamp duty and registration fee for property in Lakshmi Amman Koil Street

For a 1,000 sq.ft plot at the current rate of Rs 2,700 per sq.ft, the guideline value amounts to Rs 27,00,000. The stamp duty at 7% would be Rs 1,89,000, and the registration fee at 2% would be Rs 54,000, totaling Rs 2,43,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Lakshmi Amman Koil Street?

The Sub Registrar Office that covers Lakshmi Amman Koil 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 Kodungaiyur

The guideline value is a critical factor in the registration process when buying or selling property in Kodungaiyur. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is registered, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties and fees. This ensures that the government receives the appropriate revenue based on the property's value.

Frequently asked questions

What is the current guideline value of Lakshmi Amman Koil Street?

The current guideline value of Lakshmi Amman Koil Street is Rs 2,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,500 per sq.ft in 2012 to Rs 1,675 per sq.ft in 2017, and then increased to Rs 2,700 per sq.ft in 2024. This represents a 61% increase from 2017 to 2024.

What is the land classification for Lakshmi Amman Koil Street?

Lakshmi Amman Koil Street is classified as Residential Class I Type - I under the Madhavaram SRO.

Where can I calculate stamp duty and registration fees?

You can calculate the stamp duty and registration fees using the stamp duty and registration fee calculator available online.

Which office handles registrations for Lakshmi Amman Koil Street?

The Madhavaram Sub Registrar Office handles registrations for Lakshmi Amman Koil Street, located at No.7, Roja Nagar, Madhavaram, Chennai-600060.