Guideline Value for Lakshmi Street

Lakshmi Street guideline value

The current guideline value of Lakshmi Street in Thalakanancherry village is Rs 4,400 per sq.ft, effective from 1 July 2024. This street falls under the Alandur SRO and is classified as Residential Class I Type - II.

How the guideline value of Lakshmi Street has changed

The guideline value for Lakshmi Street has seen significant changes over the years. In 2007, the value was Rs 1,700 per sq.ft, which increased to Rs 4,000 per sq.ft in 2012, marking a rise of 135%. However, it then decreased to Rs 2,680 per sq.ft in 2017, a drop of 33%. The value rose again to Rs 4,000 per sq.ft in the 2023 revision, and most recently, it has increased to Rs 4,400 per sq.ft in the 2024 revision, reflecting a 10% increase.

Between the 2017 and 2023 revisions, the value saw a substantial increase of 49%. Overall, from 2007 to 2024, the guideline value has increased by 159%. It is important to note that the register has no figures for the years 2002 and 2003 for this street.

Guideline values in Thalakanancherry

In Thalakanancherry, there are 318 streets under the Alandur SRO with a 2024 guideline value ranging from Rs 2,200 to Rs 5,500 per sq.ft. The median value for these streets is Rs 3,900 per sq.ft, placing Lakshmi Street's 2024 figure above that median.

• Lakshmi Narasimma Koil Street: Rs 4,400 per sq.ft (2024)
• Lakshmi Nagar Main: Rs 4,400 per sq.ft (2024)
• Lakshmi Nagar 9th Street: Rs 4,400 per sq.ft (2024)
• Lakshmi Nagar 8th Street: Rs 4,400 per sq.ft (2024)
• Lakshmi Nagar 7th Street Extension: Rs 4,400 per sq.ft (2024)
• Lakshmi Nagar 7th Street: Rs 4,400 per sq.ft (2024)

Stamp duty and registration fee for property in Lakshmi Street

For a 1,000 sq.ft plot at the current guideline value of Rs 4,400 per sq.ft, the total guideline value amounts to Rs 44,00,000. The stamp duty at 7% would be Rs 3,08,000, and the registration fee at 2% would be Rs 88,000, bringing the total cost for these fees to Rs 3,96,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Lakshmi Street?

The Sub Registrar Office covering Lakshmi Street is the Alandur Sub Registrar Office, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061. You can find your SRO for more information.

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

The guideline value is an essential factor during the registration of property transactions in Thalakanancherry. It serves as a benchmark for determining the value of the property for taxation purposes, ensuring that the appropriate stamp duty and registration fees are calculated based on this value.

When buying or selling property, the guideline value helps both parties understand the minimum value at which the property can be registered. This ensures transparency in the transaction and helps in avoiding disputes related to property valuation.

Frequently asked questions

What is the current guideline value of Lakshmi Street?

The current guideline value of Lakshmi Street is Rs 4,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 1,700 per sq.ft in 2007 to Rs 4,400 per sq.ft in 2024, showing an overall increase of 159% over the years.

What are the stamp duty and registration fees for property on Lakshmi Street?

For a 1,000 sq.ft property, the total guideline value is Rs 44,00,000. The stamp duty would be Rs 3,08,000, and the registration fee would be Rs 88,000, totaling Rs 3,96,000.

Which office handles property registrations for Lakshmi Street?

The Alandur Sub Registrar Office is responsible for property registrations for Lakshmi Street, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061.

What is the land classification for Lakshmi Street?

Lakshmi Street is classified as Residential Class I Type - II, indicating its suitability for residential development.