Guideline Value for Lakshmiamman Koil Street

Lakshmiamman Koil Street guideline value

The current guideline value of Lakshmiamman Koil Street is Rs 4,400 per sq.ft, effective from 1 July 2024. This street is located in Sembiam village, under the Sembiam SRO, and is classified as Commercial Class I Type - III.

How the guideline value of Lakshmiamman Koil Street has changed

The guideline value for Lakshmiamman Koil Street has experienced several revisions over the years. In 2002, the guideline value was Rs 416 per sq.ft, which increased to Rs 451 per sq.ft in 2003, marking an increase of 8%. The value then rose significantly to Rs 800 per sq.ft in 2007, reflecting a 400% increase. Following that, it dropped to Rs 4,000 per sq.ft in 2012, a decrease of 33%. The value remained at Rs 4,000 per sq.ft until 2017, when it increased to Rs 2,680 per sq.ft. This was a substantial increase of 49% by 2023, reaching Rs 4,000 per sq.ft. The latest revision in 2024 set the guideline value at Rs 4,400 per sq.ft, a 10% increase from the previous year.

There are no figures available for the years not mentioned in the register for this street. The overall increase from 2002 to 2024 is 958%, showcasing significant changes in the guideline value over the years.

Guideline values in Sembiam

In Sembiam village, there are 250 streets under the Sembiam SRO that carry a 2024 guideline value ranging from Rs 1,700 to Rs 7,100 per sq.ft, with a median value of Rs 2,700 per sq.ft. Lakshmiamman Koil Street's 2024 guideline value is above this median.

• Lakshmiamman Nagar: Rs 4,400 per sq.ft (2024)
• Lakshmiamman Nagar 1st Cross Street: Rs 4,400 per sq.ft (2024)
• Lakshmiamman Nagar 1st Street: Rs 4,400 per sq.ft (2024)
• Lakshmiamman Nagar 2nd Cross Street: Rs 4,400 per sq.ft (2024)
• Lakshmiamman Nagar 2nd Street: Rs 4,400 per sq.ft (2024)
• Lakshmiamman Nagar 3rd Cross Street: Rs 4,400 per sq.ft (2024)

Stamp duty and registration fee for property in Lakshmiamman Koil Street

For a 1,000 sq.ft plot at the current guideline value of Rs 4,400 per sq.ft, the total guideline value would be Rs 44,00,000. The stamp duty at 7% would amount to Rs 3,08,000, while the registration fee at 2% would be Rs 88,000. Together, the total cost for stamp duty and registration would be Rs 3,96,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

You can use the stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Lakshmiamman Koil Street?

The Sub Registrar Office that covers Lakshmiamman Koil Street is the Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011. You can find your SRO for more information.

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

The guideline value is a crucial factor when registering property transactions in Sembiam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that all transactions are recorded accurately.

When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees. This ensures that both parties are aware of the financial obligations involved in the transaction.

Frequently asked questions

What is the current guideline value of Lakshmiamman Koil Street?

The current guideline value of Lakshmiamman Koil 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 changed significantly from Rs 416 per sq.ft in 2002 to Rs 4,400 per sq.ft in 2024, reflecting an overall increase of 958% over the years.

What is the land classification of Lakshmiamman Koil Street?

Lakshmiamman Koil Street is classified as Commercial Class I Type - III, which indicates its intended use for commercial activities.

What are the stamp duty and registration fees for property in Lakshmiamman Koil Street?

The stamp duty is calculated at 7% of the guideline value, and the registration fee is 2%. For a 1,000 sq.ft plot, the total stamp duty and registration fees would amount to Rs 3,96,000.

Where can I find the Sub Registrar Office for Lakshmiamman Koil Street?

The Sub Registrar Office for Lakshmiamman Koil Street is the Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011.