Guideline Value for Lakshmiamman Nagar 5th Street

Lakshmiamman Nagar 5th Street guideline value

The current guideline value of Lakshmiamman Nagar 5th Street is Rs 4,400 per sq.ft, effective from 1 July 2024. This street is located in Sembiam village, under the Sembiam Sub Registrar Office (SRO), and is classified as Commercial Class I Type - III.

How the guideline value of Lakshmiamman Nagar 5th Street has changed

The guideline value for Lakshmiamman Nagar 5th Street has undergone several revisions over the years. In 2007, the value was set at Rs 700 per sq.ft, which increased significantly to Rs 4,000 per sq.ft in 2012, marking a rise of 471%. However, this value decreased to Rs 2,680 per sq.ft in 2017, reflecting a decline of 33%. The subsequent revision in 2023 saw the value rise to Rs 4,000 per sq.ft, and the latest revision in 2024 has brought it to Rs 4,400 per sq.ft, an increase of 10% from the previous year.

It is important to note that there are no figures available for the revisions in 2002 and 2003 for Lakshmiamman Nagar 5th Street. Overall, from 2007 to 2024, the guideline value has increased by 529%.

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 5th Street is above this median, indicating a higher valuation compared to many other streets in the area.

• Lakshmiamman Nagar 5th Cross Street: Rs 4,400 per sq.ft (2024)
• Lakshmiamman Nagar 6th Cross Street: Rs 4,400 per sq.ft (2024)
• Lakshmiamman Nagar 4th Street: Rs 4,400 per sq.ft (2024)
• Lakshmiamman Nagar 4th Cross Street: Rs 4,400 per sq.ft (2024)
• Lakshmiamman Nagar 3rd 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 Nagar 5th 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 at 7% would be 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 detailed calculations.

Which Sub Registrar Office covers Lakshmiamman Nagar 5th Street?

The Sub Registrar Office that covers Lakshmiamman Nagar 5th 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 plays a crucial role in the registration process of properties in Sembiam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the registration fees and stamp duties are calculated accordingly.

When buying or selling property, the guideline value is used to assess the financial obligations associated with the transaction. Buyers should be aware that the stamp duty and registration fees will be based on the higher of the guideline value or the sale price, which can significantly impact the overall cost of the transaction.

Frequently asked questions

What is the current guideline value of Lakshmiamman Nagar 5th Street?

The current guideline value of Lakshmiamman Nagar 5th 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 seen several revisions, starting from Rs 700 per sq.ft in 2007 to Rs 4,400 per sq.ft in 2024, marking an overall increase of 529% over this period.

What is the land classification for Lakshmiamman Nagar 5th Street?

Lakshmiamman Nagar 5th Street is classified as Commercial Class I Type - III, which indicates its suitability for commercial activities.

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.

Which Sub Registrar Office covers this street?

The Sembiam Sub Registrar Office covers Lakshmiamman Nagar 5th Street, located at 5, Papermills Road, Sembiam, Chennai - 600011.