Guideline Value for Lakshminaranyan Street

Lakshminaranyan Street guideline value

The current guideline value of Lakshminaranyan Street is Rs 1,980 per sq.ft, effective from 1 July 2024. This street is located in Pammal village under the Pammal SRO, classified as Residential Class II Type - II.

How the guideline value of Lakshminaranyan Street has changed

The guideline value for Lakshminaranyan Street has seen significant changes over the years. In 2002, the value was Rs 161 per sq.ft, which increased to Rs 182 per sq.ft in 2003, marking a 13% rise. The 2007 revision saw a substantial jump to Rs 260 per sq.ft, a 43% increase from the previous figure. Following this, the value surged to Rs 1,206 per sq.ft in 2017, reflecting a remarkable 364% increase. The next revision in 2023 set the value at Rs 1,800 per sq.ft, a 49% increase from 2017. The latest revision in 2024 has established the current rate at Rs 1,980 per sq.ft, representing a 10% rise from 2023. Notably, there is no figure available for the 2012 revision for this street.

Guideline values in Pammal

In Pammal village, there are 926 streets under the Pammal SRO, with guideline values ranging from Rs 880 to Rs 3,300 per sq.ft as of 2024. The median value for these streets is Rs 2,090 per sq.ft, placing Lakshminaranyan Street's 2024 figure below the median.

• Lakshminaranyan Nagar 4th Street: Rs 1,980 per sq.ft (2024)
• Lakshminaranyan Nagar 3rd Street: Rs 1,980 per sq.ft (2024)
• Lakshminaranyan Nagar 2nd Street: Rs 1,980 per sq.ft (2024)
• Lakshminaranyan Nagar 1st Street: Rs 1,980 per sq.ft (2024)
• Lakshman Street / Thandai Periyar Nagar: Rs 1,980 per sq.ft (2024)
• LIC Colony 1st Cross Street: Rs 2,530 per sq.ft (2024)

Stamp duty and registration fee for property in Lakshminaranyan Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,980 per sq.ft, the total guideline value amounts to Rs 19,80,000. The stamp duty at 7% would be Rs 1,38,600, and the registration fee at 2% would be Rs 39,600, bringing the total to Rs 1,78,200. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Lakshminaranyan Street?

The Sub Registrar Office that covers Lakshminaranyan Street is the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a critical factor when buying or selling property in Pammal. It serves as a benchmark for the registration of property transactions, ensuring that the transaction is recorded at a value that reflects the official rates set by the government.

When a property is sold, the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Lakshminaranyan Street?

The current guideline value of Lakshminaranyan Street is Rs 1,980 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 161 per sq.ft in 2002 to Rs 1,980 per sq.ft in 2024, showing an overall increase of 1130% over the years.

What is the median guideline value in Pammal?

The median guideline value for streets in Pammal is Rs 2,090 per sq.ft, with Lakshminaranyan Street's current value being below this median.

What are the stamp duty and registration fees for properties in Lakshminaranyan Street?

The stamp duty is 7% and the registration fee is 2% of the guideline value or sale price, whichever is higher. For example, for a 1,000 sq.ft plot, the total costs would be Rs 1,78,200.

Where is the Sub Registrar Office for Lakshminaranyan Street located?

The Sub Registrar Office for Lakshminaranyan Street is the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075.