Guideline Value for Lakshmi st extn

Lakshmi st extn guideline value

The current guideline value for Lakshmi St Extension in Peerklankaranai village is Rs 1,100 per sq.ft, effective from 1 July 2024. This property falls under the Tambaram Joint 1 SRO and is classified as Residential Class II Type - I.

How the guideline value of Lakshmi st extn has changed

The guideline value for Lakshmi St Extension has undergone several revisions over the years. In 2012, the value was set at Rs 1,000 per sq.ft. This figure remained unchanged until the 2017 revision, where it decreased to Rs 670 per sq.ft. However, in 2023, the value increased to Rs 1,000 per sq.ft, and the most recent revision in 2024 has raised it to Rs 1,100 per sq.ft.

From 2012 to 2017, the guideline value decreased by 33%. Following this, from 2017 to 2023, there was a significant increase of 49%. The overall change from 2012 to 2024 is an increase of 10%. The 2023 to 2024 revision reflects a 10% increase.

Guideline values in Peerklankaranai

In Peerklankaranai village, there are 322 streets under the Tambaram Joint 1 SRO that carry a 2024 guideline value ranging from Rs 880 to Rs 4,400 per sq.ft. The median guideline value for these streets is Rs 1,650 per sq.ft, placing Lakshmi St Extension's value below this median.

• Lakshmi ST: Rs 2,200 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 extn

For a 1,000 sq.ft plot at the current guideline value of Rs 1,100 per sq.ft, the total guideline value would amount to Rs 11,00,000. The stamp duty, calculated at 7%, would be Rs 77,000, while the registration fee at 2% would be Rs 22,000, bringing the total fees together to Rs 99,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information on fees, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Lakshmi st extn?

The Lakshmi St Extension is covered by 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 additional details.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Peerklankaranai. It serves as a benchmark for calculating stamp duty and registration fees, ensuring that these costs are based on a standardized value rather than the negotiated sale price.

When a property is registered, the stamp duty is calculated on the higher of the guideline value or the sale price, which means that buyers should be aware of the current guideline value to anticipate their costs accurately.

Frequently asked questions

What is the current guideline value of Lakshmi St Extension?

The current guideline value of Lakshmi St Extension is Rs 1,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,000 per sq.ft in 2012 to Rs 670 per sq.ft in 2017, then back to Rs 1,000 per sq.ft in 2023, and finally to Rs 1,100 per sq.ft in 2024.

What is the stamp duty rate for properties in Lakshmi St Extension?

The stamp duty rate for properties in Lakshmi St Extension is 7% of the guideline value or the sale price, whichever is higher.

Which office handles registrations for Lakshmi St Extension?

The Tambaram Joint 1 Sub Registrar Office handles registrations for Lakshmi St Extension, located at No.26, Mes Road, East Tambaram, Chennai-600059.

Where can I find more information about stamp duty and registration fees?

You can find more information about stamp duty and registration fees using the stamp duty and registration fee calculator.