Guideline Value for Lakshmi Puram (Thiyagi Sankara Linganar Street)

Lakshmi Puram (Thiyagi Sankara Linganar Street) guideline value

The current guideline value for Lakshmi Puram (Thiyagi Sankara Linganar Street) is Rs 1,300 per sq.ft, effective from 1 July 2024. This street is located in Madhavaram village, under the Madhavaram SRO, and is classified as Residential Class III Type - I.

How the guideline value of Lakshmi Puram (Thiyagi Sankara Linganar Street) has changed

The guideline value for Lakshmi Puram (Thiyagi Sankara Linganar Street) has undergone several revisions over the years. The most recent revision in 2024 set the value at Rs 1,300 per sq.ft, a significant increase from the 2017 revision, which was Rs 804 per sq.ft. This change represents a rise of 62% from the previous figure.

It is important to note that there are no recorded figures for this street in the revisions of 2023, 2012, 2007, 2003, and 2002. Thus, the only available figures for this street are from the 2017 and 2024 revisions.

Guideline values in Madhavaram

In Madhavaram, there are a total of 1,946 streets under the Madhavaram SRO that carry a 2024 guideline value ranging from Rs 1,300 to Rs 7,500 per sq.ft. The median value for these streets is Rs 1,600 per sq.ft, indicating that the guideline value for Lakshmi Puram (Thiyagi Sankara Linganar Street) is below this median.

• Lakshmipuram Thirumal Nagr (Ward 29): Rs 1,300 per sq.ft (2024)
• Lalbahadur Sasthiri Street (Lakshmipuram): Rs 1,300 per sq.ft (2024)
• Lalitha Garden Roads (Ward No.7): Rs 1,300 per sq.ft (2024)
• Lalitha Garden (Ward-07): Rs 1,300 per sq.ft (2024)
• Lalitha Nagar: Rs 1,300 per sq.ft (2024)
• Lalitha Nagar, Lakshmipuram (Ward-26): Rs 1,300 per sq.ft (2024)

Stamp duty and registration fee for property in Lakshmi Puram (Thiyagi Sankara Linganar Street)

For a 1,000 sq.ft plot at the current guideline value of Rs 1,300 per sq.ft, the total 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. It is important to note that the 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 Puram (Thiyagi Sankara Linganar Street)?

The Sub Registrar Office that covers Lakshmi Puram (Thiyagi Sankara Linganar Street) is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find your SRO for more information.

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

The guideline value plays a crucial role when buying or selling property in Madhavaram. It serves as a benchmark for determining the minimum value at which a property can be registered. Buyers and sellers must consider this value to ensure compliance with local regulations during the registration process.

When a property is sold, the guideline value is used to calculate the applicable stamp duty and registration fees. This ensures that the transaction is legally recognized and that the appropriate taxes are paid to the government.

Frequently asked questions

What is the current guideline value of Lakshmi Puram (Thiyagi Sankara Linganar Street)?

The current guideline value for Lakshmi Puram (Thiyagi Sankara Linganar Street) is Rs 1,300 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value increased from Rs 804 per sq.ft in 2017 to Rs 1,300 per sq.ft in 2024, marking a 62% rise. There are no recorded figures for the years 2023, 2012, 2007, 2003, and 2002 for this street.

What is the land classification of Lakshmi Puram (Thiyagi Sankara Linganar Street)?

Lakshmi Puram (Thiyagi Sankara Linganar Street) is classified as Residential Class III Type - I. This classification indicates the type of development permitted in the area.

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

The stamp duty is 7% of the guideline value, and the registration fee is 2%. For a 1,000 sq.ft plot at the current guideline value, the total stamp duty and registration fees would amount to Rs 1,17,000.

Where is the Sub Registrar Office for Lakshmi Puram located?

The Sub Registrar Office for Lakshmi Puram is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. This office handles the registration of properties in the area.