Guideline Value for Lakshmiamman Nagar 1st Cross Street

Lakshmiamman Nagar 1st Cross Street guideline value

The current guideline value of Lakshmiamman Nagar 1st Cross 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 Nagar 1st Cross Street has changed

The guideline value for Lakshmiamman Nagar 1st Cross Street has seen several revisions over the years. In 2007, the value was Rs 700 per sq.ft, which rose significantly to Rs 4,000 per sq.ft in 2012. However, there was a decline to Rs 2,680 per sq.ft in 2017. The value then increased to Rs 4,000 per sq.ft in 2023, and the latest revision in 2024 set it at Rs 4,400 per sq.ft, marking a 10% increase from the previous year.

Overall, from 2007 to 2024, the guideline value has increased by 529%. Notably, there are no figures available for the years 2002 and 2003 for this street in the register.

Guideline values in Sembiam

In Sembiam village, there are 250 streets under the Sembiam SRO carrying 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 Nagar 1st Cross Street's 2024 figure of Rs 4,400 per sq.ft is above this median.

• 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)
• Lakshmiamman Nagar 3rd Street: Rs 4,400 per sq.ft (2024)
• Lakshmiamman Nagar 4th Cross Street: Rs 4,400 per sq.ft (2024)

Stamp duty and registration fee for property in Lakshmiamman Nagar 1st Cross 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, and the registration fee at 2% would be Rs 88,000, bringing the total fees to Rs 3,96,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Lakshmiamman Nagar 1st Cross Street?

The Sub Registrar Office that covers Lakshmiamman Nagar 1st Cross 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 an essential factor in the registration process of property transactions in Sembiam. It is used to determine the stamp duty and registration fees that must be paid when a property is bought or sold.

When you register a property, the guideline value acts as a benchmark to ensure that the transaction is recorded at a fair value, which helps in maintaining transparency in property dealings.

Frequently asked questions

What is the current guideline value of Lakshmiamman Nagar 1st Cross Street?

The current guideline value of Lakshmiamman Nagar 1st Cross 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 700 per sq.ft in 2007 to Rs 4,400 per sq.ft in 2024, with several revisions in between.

What is the land classification for this street?

Lakshmiamman Nagar 1st Cross Street is classified as Commercial Class I Type - III.

What are the stamp duty and registration fees for a property here?

For a property valued at 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.

Where is the Sub Registrar Office located?

The Sembiam Sub Registrar Office is located at 5, Papermills Road, Sembiam, Chennai - 600011.