Guideline Value for Lakshmi street(maruthiram nagar)

Lakshmi street(maruthiram nagar) guideline value

The current guideline value of Lakshmi street(maruthiram nagar) is Rs 1,100 per sq.ft, effective from 1 July 2024. This street is located in Ayappakkam village, under the Ambattur SRO, and is classified as Residential Class I Type - II.

How the guideline value of Lakshmi street(maruthiram nagar) has changed

Over the years, the guideline value of Lakshmi street(maruthiram nagar) has seen several revisions. In the 2007 revision, the guideline value was Rs 400 per sq.ft, which increased significantly to Rs 1,000 per sq.ft in the 2012 revision, marking a 150% increase. However, it decreased to Rs 670 per sq.ft in the 2017 revision, representing a 33% decline. The value then rose to Rs 1,000 per sq.ft in the 2023 revision, and finally, it reached Rs 1,100 per sq.ft in the 2024 revision, indicating a 10% increase from the previous year.

From 2017 to 2023, the guideline value increased by 49%. Overall, from 2007 to 2024, there has been a substantial increase of 175%. It is important to note that the register does not have figures for the years 2002 and 2003 for this street.

Guideline values in Ayappakkam

In Ayappakkam, there are 221 streets under the Ambattur SRO, with guideline values ranging from Rs 550 to Rs 4,000 per sq.ft as of 2024. The median guideline value for these streets is Rs 1,300 per sq.ft, making the guideline value of Lakshmi street(maruthiram nagar) below this median.

• Lotus Avenue: Rs 1,700 per sq.ft (2024)
• Lotus Avenue Phase -II: Rs 3,300 per sq.ft (2024)
• Lakshmi Nagar: Rs 1,600 per sq.ft (2024)
• Kumaran street(Iyappan nagar): Rs 1,700 per sq.ft (2024)
• Mahalakshmi street(Bhavani nagar): Rs 1,600 per sq.ft (2024)
• Mahalingam Street (Bhavani nagar): Rs 1,600 per sq.ft (2024)

Stamp duty and registration fee for property in Lakshmi street(maruthiram nagar)

For a 1,000 sq.ft plot at the current rate of Rs 1,100 per sq.ft, the guideline value amounts to Rs 11,00,000. The stamp duty at 7% would be Rs 77,000, and the registration fee at 2% would be Rs 22,000, totaling Rs 99,000. 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(maruthiram nagar)?

The Sub Registrar Office that covers Lakshmi street(maruthiram nagar) is the Ambattur Sub Registrar Office, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur- 600 053, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is an important factor in property transactions in Ayappakkam. It serves as the minimum value at which properties can be registered, ensuring that the government receives appropriate revenue from stamp duties and registration fees. Buyers and sellers must consider this value when negotiating sale prices to ensure compliance with legal requirements.

When a property is sold, the guideline value is used to calculate the stamp duty and registration fees. This ensures that all transactions are documented accurately and transparently, reflecting the true value of the property being transferred.

Frequently asked questions

What is the current guideline value of Lakshmi street(maruthiram nagar)?

The current guideline value of Lakshmi street(maruthiram nagar) 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 400 per sq.ft in 2007 to Rs 1,100 per sq.ft in 2024, representing a total increase of 175% over the years.

What is the registration office for Lakshmi street(maruthiram nagar)?

The registration office for Lakshmi street(maruthiram nagar) is the Ambattur Sub Registrar Office, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur- 600 053, Chennai registration zone.

What are the stamp duty and registration fees for properties on this street?

For a property valued at Rs 11,00,000, the stamp duty would be Rs 77,000 and the registration fee would be Rs 22,000, totaling Rs 99,000.

Are there other streets with different guideline values in Ayappakkam?

Yes, there are several other streets in Ayappakkam with varying guideline values, ranging from Rs 550 to Rs 4,000 per sq.ft as of 2024.