Guideline Value for Lakshmi Avenue

Lakshmi Avenue guideline value

The current guideline value of Lakshmi Avenue is Rs 1,500 per sq.ft. This street is located in Urapakkam village and falls under the Gooduvancheri SRO. The land classification for this area is Residential Special Type - II.

How the guideline value of Lakshmi Avenue has changed

The guideline value for Lakshmi Avenue has seen several revisions over the years. In the 2007 revision, the value was Rs 335 per sq.ft, which increased significantly to Rs 1,500 per sq.ft in the 2012 revision. However, this value remained unchanged in the 2012 to 2017 period, before dropping to Rs 1,005 per sq.ft in the 2017 revision. The most recent revision in 2023 has set the guideline value back to Rs 1,500 per sq.ft.

Between the revisions, there have been notable changes. From 2007 to 2012, the value increased by 348%, while from 2012 to 2017, it decreased by 33%. The value saw a significant increase of 49% from 2017 to 2023. Overall, from the 2007 revision to the 2023 revision, the guideline value has increased by 348%. The register has no figures for the years 2002, 2003, and 2024 for this street.

Guideline values in Urapakkam

Currently, there are no village figures available for Urapakkam. The guideline value of Lakshmi Avenue is set at Rs 1,500 per sq.ft. There are no other streets in Urapakkam listed under the Gooduvancheri SRO.

Stamp duty and registration fee for property in Lakshmi Avenue

For a 1,000 sq.ft plot at the current guideline value of Rs 1,500 per sq.ft, the total guideline value amounts to Rs 15,00,000. The stamp duty at 7% would be Rs 1,05,000, and the registration fee at 2% would be Rs 30,000, making the total cost for these fees Rs 1,35,000. 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 Avenue?

The Sub Registrar Office that covers Lakshmi Avenue is the Gooduvancheri Sub Registrar Office, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvanchery-603202, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor when registering property transactions in Urapakkam. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring that the government receives appropriate stamp duty and registration fees based on this value.

When buying or selling property, the guideline value helps both parties understand the legal and financial implications of the transaction. It is essential to consider the guideline value alongside the sale price, as stamp duty is charged on the higher of the two amounts.

Frequently asked questions

What is the current guideline value of Lakshmi Avenue?

The current guideline value of Lakshmi Avenue is Rs 1,500 per sq.ft as per the 2023 revision.

How has the guideline value changed over the years?

The guideline value has changed from Rs 335 per sq.ft in 2007 to Rs 1,500 per sq.ft in 2012, then decreased to Rs 1,005 per sq.ft in 2017, and finally returned to Rs 1,500 per sq.ft in 2023.

What is the registration office for Lakshmi Avenue?

The registration office for Lakshmi Avenue is the Gooduvancheri Sub Registrar Office, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvanchery-603202, Chengalpattu registration zone.

What are the stamp duty and registration fees for property in Lakshmi Avenue?

For a 1,000 sq.ft plot at the current guideline value, the total guideline value is Rs 15,00,000. The stamp duty at 7% would be Rs 1,05,000, and the registration fee at 2% would be Rs 30,000, totaling Rs 1,35,000.

Is there a guideline value for the year 2024 for Lakshmi Avenue?

No, the register has no figure for the year 2024 for Lakshmi Avenue.