Guideline Value for Lakshmipuram (All Street)

Lakshmipuram (All Street) guideline value

The current guideline value of Lakshmipuram (All Street) is Rs 2,860 per sq.ft, effective from 1 July 2024. This street is located in Thiruneermalai village under the Pammal SRO, and is classified as Commercial Class I Type - I.

How the guideline value of Lakshmipuram (All Street) has changed

The guideline value for Lakshmipuram (All Street) has seen significant changes over the years. The 2017 revision set the value at Rs 1,742 per sq.ft, which increased to Rs 2,600 per sq.ft in the 2023 revision. The latest revision in 2024 has further raised the guideline value to Rs 2,860 per sq.ft, marking a 10% increase from the previous year and an overall increase of 64% since 2017.

It is important to note that the register has no figures for the years 2002, 2003, 2007, and 2012 for this street. The increase from 2017 to 2023 was 49%, reflecting a substantial rise in the guideline value during that period.

Guideline values in Thiruneermalai

In Thiruneermalai, there are 316 streets under the Pammal SRO that carry a 2024 guideline value ranging from Rs 1,320 to Rs 6,240 per sq.ft, with a median value of Rs 2,420 per sq.ft. The guideline value for Lakshmipuram (All Street) is above this median.

• Lakshmipuram/Kumaraswamy Street: Rs 2,860 per sq.ft (2024)
• Lakshmipuram/Mani Naicker Street: Rs 2,860 per sq.ft (2024)
• Lakshmipuram/Ranganathasami 2nd Street: Rs 2,860 per sq.ft (2024)
• Lal Bahadur Sastri Street: Rs 2,200 per sq.ft (2024)
• Maduappar 1st Street: Rs 2,420 per sq.ft (2024)
• Maduappar 2nd Street: Rs 2,420 per sq.ft (2024)

Stamp duty and registration fee for property in Lakshmipuram (All Street)

For a 1,000 sq.ft plot at the current guideline value of Rs 2,860 per sq.ft, the total guideline value amounts to Rs 28,60,000. The stamp duty at 7% would be Rs 2,00,200, and the registration fee at 2% would be Rs 57,200, bringing the total cost for stamp duty and registration to Rs 2,57,400. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher.

You can use the stamp duty and registration fee calculator for more accurate calculations.

Which Sub Registrar Office covers Lakshmipuram (All Street)?

The Lakshmipuram (All Street) falls under the Pammal Sub Registrar Office located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, in the Chengalpattu registration zone. To find your SRO, you can visit find your SRO.

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

The guideline value plays a crucial role during property registration in Thiruneermalai. It is used to determine the stamp duty and registration fees that need to be paid when a property is bought or sold. The guideline value is set by the government and reflects the minimum value at which properties in a particular area can be registered.

When registering a property, buyers should be aware that the stamp duty is calculated based on the higher of the guideline value or the actual sale price. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Lakshmipuram (All Street)?

The current guideline value of Lakshmipuram (All Street) is Rs 2,860 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 1,742 per sq.ft in 2017 to Rs 2,860 per sq.ft in 2024. This represents an overall increase of 64% over the seven years.

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

Other streets in Thiruneermalai with the same guideline value of Rs 2,860 per sq.ft for 2024 include Lakshmipuram/Kumaraswamy Street, Lakshmipuram/Mani Naicker Street, and Lakshmipuram/Ranganathasami 2nd Street.

What is the registration fee for property in Lakshmipuram (All Street)?

The registration fee for property in Lakshmipuram (All Street) is 2% of the guideline value. For a property valued at Rs 28,60,000, the registration fee would be Rs 57,200.

Where can I find the Sub Registrar Office for Lakshmipuram (All Street)?

The Sub Registrar Office covering Lakshmipuram (All Street) is the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075.