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 Kolathur village and falls under the Sembiam SRO. The land classification for this area is Residential Class II 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. In 2002, the guideline value was Rs 286 per sq.ft. This increased to Rs 311 per sq.ft in 2003, reflecting a change of +9%. The value saw a significant rise to Rs 900 per sq.ft in 2007, marking an increase of +189%. In 2012, the value was Rs 2,500 per sq.ft, which was a decrease of -33% from the previous revision. The 2017 revision set the value at Rs 1,675 per sq.ft, which was a +49% increase from 2012. The most recent figures show Rs 2,500 per sq.ft in 2023, followed by a rise to Rs 2,700 per sq.ft in 2024, representing an increase of +8%.

There are no figures available for revisions in the years not listed. Overall, from 2002 to 2024, the guideline value has increased by +844%.

Guideline values in Kolathur

In Kolathur, there are 879 streets under the Sembiam SRO with a 2024 guideline value ranging from Rs 2,200 to Rs 6,000 per sq.ft. The median value for these streets is Rs 3,300 per sq.ft, placing Lakshmi Amman Koil Street's 2024 figure below that median.

• Lakshmi Ammal Nagar: Rs 2,700 per sq.ft (2024)
• Lakshmi Avenue: Rs 2,700 per sq.ft (2024)
• Lake Street: Rs 2,700 per sq.ft (2024)
• Lake Avenue: Rs 2,700 per sq.ft (2024)
• Lakshmi Nagar 1st Street: Rs 2,700 per sq.ft (2024)
• Lakshmi 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 guideline value of Rs 2,700 per sq.ft, the total guideline value is Rs 27,00,000. The stamp duty at 7% would amount to Rs 1,89,000, while the registration fee at 2% would be Rs 54,000. Together, the total cost for stamp duty and registration fees would be 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.

You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Lakshmi Amman Koil Street?

The Sub Registrar Office that covers Lakshmi Amman Koil Street is the Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011. You can find your SRO for further assistance.

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

The guideline value plays a crucial role during the registration of property transactions in Kolathur. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring compliance with local regulations.

When buying or selling property, the guideline value is utilized to calculate the applicable stamp duty and registration fees. This ensures that both parties are aware of the financial obligations associated with the transaction.

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 increased from Rs 286 per sq.ft in 2002 to Rs 2,700 per sq.ft in 2024, marking an overall increase of +844% over the years.

What is the land classification for Lakshmi Amman Koil Street?

The land classification for Lakshmi Amman Koil Street is Residential Class II Type - I.

What are the stamp duty and registration fees for a property in this area?

For a property valued at Rs 27,00,000, the stamp duty would be Rs 1,89,000 and the registration fee would be Rs 54,000, totaling Rs 2,43,000.

Which office handles registrations for Lakshmi Amman Koil Street?

The Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011, handles registrations for Lakshmi Amman Koil Street.