Guideline Value for Lakshmipathi Street

Lakshmipathi Street guideline value

The current guideline value of Lakshmipathi Street in Kovilpathagai village is Rs 805 per sq.ft, effective from 1 July 2024. This street falls under the Ambattur SRO and is classified as Residential Class II Type - II.

How the guideline value of Lakshmipathi Street has changed

The guideline value for Lakshmipathi Street has undergone several revisions over the years. The 2012 revision set the value at Rs 700 per sq.ft, which then decreased to Rs 469 per sq.ft in the 2017 revision. However, from 2017 to 2023, the value increased significantly by 72% to reach Rs 805 per sq.ft, a figure that remained unchanged in the 2024 revision.

It is important to note that there are no figures available for the years 2002, 2003, and 2007 in the register for this street. Overall, the guideline value has increased by 15% from the 2012 revision to the current 2024 figure.

Guideline values in Kovilpathagai

Kovilpathagai village has a total of 278 streets under the Ambattur SRO, with guideline values ranging from Rs 803 to Rs 2,900 per sq.ft. The median guideline value for the village is Rs 870 per sq.ft, making the current value of Lakshmipathi Street below this median.

• Lakeview Street: Rs 880 per sq.ft (2024)
• Lotus Nagar: Rs 803 per sq.ft (2024)
• Kuppammal Street: Rs 880 per sq.ft (2024)
• Magesh Nagar: Rs 803 per sq.ft (2024)
• Mahalakshmi Nagar: Rs 803 per sq.ft (2024)
• Mahalakshmi Street (Ashok Nagar): Rs 880 per sq.ft (2024)

Stamp duty and registration fee for property in Lakshmipathi Street

For a 1,000 sq.ft plot at the current guideline value of Rs 805 per sq.ft, the total guideline value amounts to Rs 8,05,000. The stamp duty at 7% would be Rs 56,350, and the registration fee at 2% would be Rs 16,100, bringing the total fees to Rs 72,450. 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 Lakshmipathi Street?

The Sub Registrar Office that covers Lakshmipathi Street is the Ambattur Sub Registrar Office, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in the property registration process in Kovilpathagai. When a property is bought or sold, the guideline value is used to determine the stamp duty and registration fees that need to be paid during the transaction.

It is essential for buyers and sellers to be aware of the guideline value as it ensures that the property is registered at a value that is recognized by the state authorities, thus facilitating a smooth transaction process.

Frequently asked questions

What is the current guideline value of Lakshmipathi Street?

The current guideline value of Lakshmipathi Street is Rs 805 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 2012 to Rs 469 per sq.ft in 2017, then increased to Rs 805 per sq.ft in 2023 and remained the same in 2024.

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

For a 1,000 sq.ft plot, the total guideline value is Rs 8,05,000, with stamp duty at Rs 56,350 and registration fee at Rs 16,100, totaling Rs 72,450.

Which Sub Registrar Office covers Lakshmipathi Street?

The Ambattur Sub Registrar Office covers Lakshmipathi Street, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone.

What is the land classification for Lakshmipathi Street?

Lakshmipathi Street is classified as Residential Class II Type - II according to the guideline value register.