Guideline Value for Lakshmi Amman Kovil Street

Lakshmi Amman Kovil Street guideline value

The current guideline value of Lakshmi Amman Kovil Street is Rs 1,300 per sq.ft, effective from 1 July 2024. This street is located in Puthagaram village, under the Ambattur SRO. The land classification for this area is Residential Class IV Type - I.

How the guideline value of Lakshmi Amman Kovil Street has changed

Since the 2012 revision, the guideline value has seen various changes. In 2012, the guideline value was Rs 1,200 per sq.ft, which decreased to Rs 804 per sq.ft in 2017. However, from 2017 to 2023, there was a significant increase of 49%, raising the value to Rs 1,200 per sq.ft. The latest revision in 2024 has further increased the value to Rs 1,300 per sq.ft, marking an 8% rise from the previous year.

It is important to note that there are no figures available for the revisions in 2002, 2003, and 2007 for Lakshmi Amman Kovil Street. Overall, the guideline value has increased by 8% from 2012 to 2024.

Guideline values in Puthagaram

In Puthagaram village, there are 140 streets under the Ambattur SRO that carry a 2024 guideline value, ranging from Rs 1,200 to Rs 3,800 per sq.ft. The median guideline value for these streets is Rs 1,900 per sq.ft, making the guideline value of Lakshmi Amman Kovil Street below this median.

• Lakshmanan Nagar: Rs 1,300 per sq.ft (2024)
• Lakshmi Nagar: Rs 2,200 per sq.ft (2024)
• Lakshmi Nagar anex: Rs 2,200 per sq.ft (2024)
• Magathma ganthi Nagar: Rs 1,300 per sq.ft (2024)
• Krishna Nagar: Rs 1,400 per sq.ft (2024)
• Mathavan Nagar: Rs 2,200 per sq.ft (2024)

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

For a 1,000 sq.ft plot at the current rate of Rs 1,300 per sq.ft, the guideline value amounts to Rs 13,00,000. The stamp duty at 7% would be Rs 91,000, and the registration fee at 2% would be Rs 26,000, bringing the total to Rs 1,17,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Lakshmi Amman Kovil Street?

The Sub Registrar Office that covers Lakshmi Amman Kovil Street is the Ambattur Sub Registrar Office, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor when registering property in Puthagaram. It serves as a benchmark for calculating the stamp duty and registration fees, which are mandatory during the property transaction process.

When buying or selling property, the guideline value ensures that the transaction is recorded accurately and transparently. It helps in determining the legal value of the property, which is essential for both buyers and sellers.

Frequently asked questions

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

The current guideline value of Lakshmi Amman Kovil Street is Rs 1,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,200 per sq.ft in 2012 to Rs 804 per sq.ft in 2017, then back to Rs 1,200 per sq.ft in 2023, and finally to Rs 1,300 per sq.ft in 2024.

What is the land classification for Lakshmi Amman Kovil Street?

The land classification for Lakshmi Amman Kovil Street is Residential Class IV Type - I.

Which office handles property registrations for Lakshmi Amman Kovil Street?

The Ambattur Sub Registrar Office handles property registrations for Lakshmi Amman Kovil Street.

How is the stamp duty calculated for properties in Puthagaram?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a property with a guideline value of Rs 13,00,000 would incur a stamp duty of Rs 91,000 at 7%.