Guideline Value for Lakshmi Land

Lakshmi Land guideline value

The current guideline value of Lakshmi Land in Malaipattu village is Rs 150 per sq.ft, effective from 1 July 2024. This land falls under the Residential Class IV Type - I classification and is registered with the Sunguvarchattram SRO.

How the guideline value of Lakshmi Land has changed

The guideline value for Lakshmi Land has seen several revisions over the years. The 2012 revision set the value at Rs 150 per sq.ft, which remained unchanged in the subsequent revisions of 2017 and 2023. The 2017 revision increased the value to Rs 100 per sq.ft, marking a 50% increase from the previous figure. However, the 2024 revision reverted back to Rs 150 per sq.ft, showing no change from the 2023 revision.

There are no recorded figures for the years 2002, 2003, and 2007 in the register for this street. Overall, from the 2012 revision to the 2024 revision, the guideline value has remained constant, with a 0% change.

Guideline values in Malaipattu

Malaipattu village has a total of 36 streets under the Sunguvarchattram SRO, with guideline values ranging from Rs 150 to Rs 1,181 per sq.ft. The median guideline value for these streets is Rs 200 per sq.ft, placing Lakshmi Land's 2024 figure below that median.

• Kullakarai Street: Rs 150 per sq.ft (2024)
• Krishnamoorthy Salai: Rs 200 per sq.ft (2024)
• Kanniamman street: Rs 181 per sq.ft (2024)
• MGR Street: Rs 200 per sq.ft (2024)
• Kamarajar Salai: Rs 150 per sq.ft (2024)
• Kalaizhnar Street: Rs 150 per sq.ft (2024)

Stamp duty and registration fee for property in Lakshmi Land

For a 1,000 sq.ft plot at the current guideline value of Rs 150 per sq.ft, the guideline value amounts to Rs 1,50,000. The stamp duty at 7% would be Rs 10,500, and the registration fee at 2% would be Rs 3,000, bringing the total fees to Rs 13,500. It is important to note that duty is charged on the higher of the guideline value or the sale price.

You can also use our stamp duty and registration fee calculator for more accurate calculations.

Which Sub Registrar Office covers Lakshmi Land?

The Lakshmi Land property is covered by the Sunguvarchattram Sub Registrar Office, located at Vadivamal Nagar Kandigai Road Caparo Company Opp, Sunguvarchatram, Chengalpattu registration zone. To find your nearest SRO, visit find your SRO.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Malaipattu. It serves as the basis for calculating stamp duty and registration fees, which are essential components of the property transaction process.

When you register a property, the guideline value is either the sale price or the guideline value, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Lakshmi Land?

The current guideline value of Lakshmi Land in Malaipattu village is Rs 150 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has remained at Rs 150 per sq.ft in the 2012, 2023, and 2024 revisions. It increased to Rs 100 per sq.ft in the 2017 revision, marking a 50% increase from the previous figure.

What is the median guideline value for streets in Malaipattu?

The median guideline value for streets in Malaipattu is Rs 200 per sq.ft, with Lakshmi Land's 2024 figure being below this median.

What are the stamp duty and registration fees for Lakshmi Land?

For a 1,000 sq.ft plot at the guideline value of Rs 150 per sq.ft, the total stamp duty and registration fees would amount to Rs 13,500, calculated based on the guideline value of Rs 1,50,000.

Where is the Sub Registrar Office for Lakshmi Land located?

The Sunguvarchattram Sub Registrar Office is located at Vadivamal Nagar Kandigai Road Caparo Company Opp, Sunguvarchatram, Chengalpattu registration zone.