Guideline Value for Lakshmiamman Nagar 3rd Cross Street

Lakshmiamman Nagar 3rd Cross Street guideline value

The current guideline value of Lakshmiamman Nagar 3rd 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, classified as Commercial Class I Type - III.

How the guideline value of Lakshmiamman Nagar 3rd Cross Street has changed

The guideline value for Lakshmiamman Nagar 3rd Cross Street has seen several revisions over the years. In 2007, the guideline value was Rs 700 per sq.ft, which increased significantly to Rs 4,000 per sq.ft in 2012. However, this figure then decreased to Rs 2,680 per sq.ft in 2017. The value rose again 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.

Examining the changes, the guideline value increased by 471% from 2007 to 2012, then saw a decrease of 33% from 2012 to 2017. Following that, there was a substantial increase of 49% from 2017 to 2023. Overall, from 2007 to 2024, the guideline value has increased by 529%. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Sembiam

In Sembiam, 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. The guideline value for Lakshmiamman Nagar 3rd Cross Street is above this median, reflecting its commercial classification.

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

Stamp duty and registration fee for property in Lakshmiamman Nagar 3rd 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 amounts to Rs 44,00,000. The stamp duty is charged at 7%, which totals Rs 3,08,000, and the registration fee at 2% amounts to 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 guideline value or the sale price, whichever is higher. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Lakshmiamman Nagar 3rd Cross Street?

The Sub Registrar Office that covers Lakshmiamman Nagar 3rd 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 a crucial factor during property transactions in Sembiam. It serves as a reference point for determining the minimum value at which properties can be registered. Buyers and sellers must consider this value to ensure compliance with local regulations and to avoid disputes during the registration process.

When a property is sold, the registration office uses the guideline value to calculate applicable fees such as stamp duty and registration charges. This ensures that both parties are aware of the financial implications of the transaction based on the established guideline value.

Frequently asked questions

What is the current guideline value of Lakshmiamman Nagar 3rd Cross Street?

The current guideline value of Lakshmiamman Nagar 3rd 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 from Rs 700 per sq.ft in 2007 to Rs 4,400 per sq.ft in 2024, reflecting an overall increase of 529% over the years.

What is the land classification for Lakshmiamman Nagar 3rd Cross Street?

Lakshmiamman Nagar 3rd Cross Street is classified as Commercial Class I Type - III.

What are the stamp duty and registration fees for a property in this area?

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 for Lakshmiamman Nagar 3rd Cross Street located?

The Sub Registrar Office is located at 5, Papermills Road, Sembiam, Chennai - 600011, which covers Lakshmiamman Nagar 3rd Cross Street.