Guideline Value for Lakshmi ST

Lakshmi ST guideline value

The current guideline value of Lakshmi ST in Peerklankaranai village is Rs 2,200 per sq.ft, effective from 1 July 2024. This area falls under the Tambaram Joint 1 SRO and is classified as Residential Special Type - I.

How the guideline value of Lakshmi ST has changed

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

In terms of percentage changes, from 2017 to 2023, there was a notable increase of 49%. The decrease from 2012 to 2017 was 33%. It is important to note that the register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Peerklankaranai

In Peerklankaranai, there are 322 streets under the Tambaram Joint 1 SRO that have a 2024 guideline value ranging from Rs 880 to Rs 4,400 per sq.ft, with a median value of Rs 1,650 per sq.ft. The guideline value for Lakshmi ST is above this median.

• Lakshmi st extn: Rs 1,100 per sq.ft (2024)
• Lakshmi Narasimhan Street: Rs 1,100 per sq.ft (2024)
• Logavani Street: Rs 1,100 per sq.ft (2024)
• Lakshmi cross st: Rs 1,100 per sq.ft (2024)
• Kurinji Street: Rs 1,320 per sq.ft (2024)
• Kurinji Nagar Cross Street: Rs 1,100 per sq.ft (2024)

Stamp duty and registration fee for property in Lakshmi ST

For a 1,000 sq.ft plot at the current rate of Rs 2,200 per sq.ft, the guideline value amounts to Rs 22,00,000. The stamp duty at 7% would be Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, totaling Rs 1,98,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can also use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Lakshmi ST?

The Sub Registrar Office that covers Lakshmi ST is the Tambaram Joint 1 Sub Registrar Office, located at No.26, MES Road, East Tambaram, Chennai-600059, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor during property registration in Peerklankaranai. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid when buying or selling property in the area.

When a property transaction occurs, the higher of the guideline value or the sale price is considered for calculating the applicable duties. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Lakshmi ST?

The current guideline value of Lakshmi ST 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 to Rs 2,000 per sq.ft in 2023, and finally to Rs 2,200 per sq.ft in 2024.

What are the stamp duty and registration fees for properties on Lakshmi ST?

For a property valued at Rs 22,00,000, the stamp duty would be Rs 1,54,000 and the registration fee would be Rs 44,000, totaling Rs 1,98,000.

Which Sub Registrar Office is responsible for Lakshmi ST?

The Tambaram Joint 1 Sub Registrar Office is responsible for Lakshmi ST, located at No.26, MES Road, East Tambaram, Chennai-600059.

What is the land classification for Lakshmi ST?

Lakshmi ST is classified as Residential Special Type - I, which indicates its designated use for residential purposes.