Guideline Value for Lakshmiamman Nagar

Lakshmiamman Nagar guideline value

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

How the guideline value of Lakshmiamman Nagar has changed

The guideline value for Lakshmiamman Nagar has seen significant changes over the years. In 2002, the value was Rs 341 per sq.ft, which increased to Rs 370 per sq.ft in 2003. The value rose to Rs 700 per sq.ft in 2007, and then to Rs 4,000 per sq.ft in 2012. However, it decreased to Rs 2,680 per sq.ft in 2017, before climbing back to Rs 4,000 per sq.ft in 2023, and finally reaching Rs 4,400 per sq.ft in the 2024 revision.

Between the revisions, the notable changes include a 10% increase from 2023 to 2024, a 49% increase from 2017 to 2023, and a substantial 471% increase from 2007 to 2012. The overall increase from 2002 to 2024 is 1190%.

Guideline values in Sembiam

In Sembiam, 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 value for these streets is Rs 2,700 per sq.ft, placing Lakshmiamman Nagar's 2024 figure above the median.

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

Stamp duty and registration fee for property in Lakshmiamman Nagar

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 cost for these fees to Rs 3,96,000. 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 Nagar?

The Sembiam Sub Registrar Office covers Lakshmiamman Nagar, 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 when registering property transactions in Sembiam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring compliance with local regulations.

When buying or selling property, the guideline value is used to calculate the applicable stamp duty and registration fees. 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?

The current guideline value of Lakshmiamman Nagar 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 341 per sq.ft in 2002 to Rs 4,400 per sq.ft in 2024, reflecting an overall increase of 1190% over this period.

What are the other streets in Sembiam with the same guideline value?

Other streets in Sembiam, such as Lakshmiamman Nagar 1st Cross Street, 1st Street, 2nd Cross Street, 2nd Street, 3rd Cross Street, and 3rd Street, all have a guideline value of Rs 4,400 per sq.ft for 2024.

Where can I find the Sembiam Sub Registrar Office?

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

How is stamp duty calculated for properties in Lakshmiamman Nagar?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 44,00,000, the stamp duty at 7% would be Rs 3,08,000.