Guideline Value for Lakshmiamman Nagar 3rd Street

Lakshmiamman Nagar 3rd Street guideline value

The current guideline value of Lakshmiamman Nagar 3rd 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 3rd Street has changed

The guideline value for Lakshmiamman Nagar 3rd Street has seen significant changes over the years. In the 2007 revision, the value was Rs 700 per sq.ft, which increased to Rs 4,000 per sq.ft in 2012. However, it decreased to Rs 2,680 per sq.ft in 2017, before rising again to Rs 4,000 per sq.ft in 2023, and finally reaching Rs 4,400 per sq.ft in the 2024 revision. Notably, there are no figures available for the years 2002 and 2003 for this street.

From 2017 to 2023, the value increased by 49%, and from 2023 to 2024, it rose by 10%. The overall increase from 2007 to 2024 is a remarkable 529%, showcasing the fluctuations in the guideline value over the years.

Guideline values in Sembiam

In Sembiam village, there are 250 streets under the Sembiam SRO with a 2024 guideline value ranging from Rs 1,700 to Rs 7,100 per sq.ft. The median guideline value for these streets is Rs 2,700 per sq.ft, placing Lakshmiamman Nagar 3rd Street's current value above this median.

• Lakshmiamman Nagar 3rd Cross Street: Rs 4,400 per sq.ft (2024)
• Lakshmiamman Nagar 4th Cross Street: Rs 4,400 per sq.ft (2024)
• Lakshmiamman Nagar 2nd Street: Rs 4,400 per sq.ft (2024)
• Lakshmiamman Nagar 4th Street: Rs 4,400 per sq.ft (2024)
• Lakshmiamman Nagar 2nd Cross Street: Rs 4,400 per sq.ft (2024)
• Lakshmiamman Nagar 5th Cross Street: Rs 4,400 per sq.ft (2024)

Stamp duty and registration fee for property in Lakshmiamman Nagar 3rd 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, making the total cost for these fees Rs 3,96,000. Please note that the duty is charged on the higher of the guideline value and the sale price. You can use our stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Lakshmiamman Nagar 3rd Street?

The Sub Registrar Office that covers Lakshmiamman Nagar 3rd Street is the Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011. You can find your SRO for more details.

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

The guideline value is an important factor in property transactions in Sembiam. It serves as a benchmark for determining the value of a property during registration, ensuring that the sale price is in line with the established rates. This value is used to calculate the applicable stamp duty and registration fees, which are mandatory for property transactions.

When buying or selling property, both the buyer and seller must consider the guideline value to ensure compliance with local regulations. The registration process requires that the property is registered at or above the guideline value, which helps maintain transparency and fairness in real estate transactions.

Frequently asked questions

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

The current guideline value of Lakshmiamman Nagar 3rd 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, showing an overall increase of 529% over the years.

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

Lakshmiamman Nagar 3rd Street is classified as Commercial Class I Type - III, indicating its suitability for commercial activities.

Where can I find the Sub Registrar Office for this area?

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

How are stamp duty and registration fees calculated?

Stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at Rs 4,400 per sq.ft would incur a total fee of Rs 3,96,000.