Guideline Value for Lakshmi Avenue

Lakshmi Avenue guideline value

The current guideline value of Lakshmi Avenue is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Selaiyur village, under the Selaiyur SRO, and is classified as Residential Class I Type - I.

How the guideline value of Lakshmi Avenue has changed

The guideline value for Lakshmi Avenue has seen several revisions over the years. In the 2012 revision, the value was set at Rs 2,000 per sq.ft, which then decreased to Rs 1,340 per sq.ft in the 2017 revision. Following this, the value increased significantly to Rs 2,000 per sq.ft in 2023, and then to Rs 2,200 per sq.ft in the 2024 revision, marking a 10% increase from the previous year.

Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 10%. The changes between the revisions are as follows: from 2017 to 2023, there was a 49% increase, and from 2012 to 2017, there was a decrease of 33%. It is important to note that there are no figures available for the years 2002, 2003, and 2007 for this street.

Guideline values in Selaiyur

In Selaiyur, there are 478 streets under the Selaiyur SRO that carry a 2024 guideline value ranging from Rs 850 to Rs 6,500 per sq.ft. The median value is Rs 2,200 per sq.ft, which is equal to the current guideline value of Lakshmi Avenue.

• Lake-Bound Street: Rs 950 per sq.ft (2024)
• Lakshmi Nagar: Rs 2,900 per sq.ft (2024)
• K.V.N. Nagar: Rs 1,300 per sq.ft (2024)
• Lakshmi Nagar Ext: Rs 3,750 per sq.ft (2024)
• Lalbagadur Sastri Street: Rs 950 per sq.ft (2024)
• Kundalakesi Nagar Ganesh Nagar: Rs 2,900 per sq.ft (2024)

Stamp duty and registration fee for property in Lakshmi Avenue

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value would be Rs 22,00,000. The stamp duty, charged at 7%, would amount to Rs 1,54,000, while the registration fee, charged at 2%, would be Rs 44,000. Together, these fees would total Rs 1,98,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information, you can use our stamp duty and registration fee calculator.

Which Sub Registrar Office covers Lakshmi Avenue?

The Sub Registrar Office that covers Lakshmi Avenue is the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, in the Chengalpattu registration zone.

You can find your SRO for more details.

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

The guideline value plays a crucial role in the registration process for property transactions in Selaiyur. It is used to determine the stamp duty and registration fees that must be paid when buying or selling property. The fees are calculated based on the guideline value or the sale price, whichever is higher.

When a property is registered, the guideline value ensures that the transaction is recorded at a fair value, which helps in maintaining transparency in real estate dealings. This value is regularly updated to reflect changes in the market and local conditions.

Frequently asked questions

What is the current guideline value of Lakshmi Avenue?

The current guideline value of Lakshmi Avenue is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,000 per sq.ft in 2012 to Rs 1,340 per sq.ft in 2017, then increased to Rs 2,000 in 2023 and finally to Rs 2,200 in 2024.

What is the land classification of Lakshmi Avenue?

Lakshmi Avenue is classified as Residential Class I Type - I.

Where is the Selaiyur Sub Registrar Office located?

The Selaiyur Sub Registrar Office is located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073.

How is the stamp duty calculated for properties in Lakshmi Avenue?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 22,00,000, the stamp duty would be Rs 1,54,000.