Guideline Value for Lakshmipuram 1-st Main Road

Lakshmipuram 1-st Main Road guideline value

The current guideline value of Lakshmipuram 1-st Main Road is Rs 3,300 per sq.ft, effective from 1 July 2024. This road is located in Tambaram village and falls under the Tambaram Joint 1 SRO. The land classification for this area is Residential Class I Type - I.

How the guideline value of Lakshmipuram 1-st Main Road has changed

Over the years, the guideline value of Lakshmipuram 1-st Main Road has seen several revisions. The 2007 revision set the value at Rs 600 per sq.ft, which increased significantly to Rs 3,000 per sq.ft in 2012. However, there was a decrease to Rs 2,010 per sq.ft in 2017. The value then rose to Rs 3,000 per sq.ft in 2023 before reaching the current figure of Rs 3,300 per sq.ft in 2024.

From 2017 to 2023, the value increased by 49%, and from 2023 to 2024, it rose by 10%. The overall change from the 2007 revision to the 2024 revision reflects a substantial increase of 450%. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Tambaram

In Tambaram, there are 360 streets under the Tambaram Joint 1 SRO that carry a 2024 guideline value, ranging from Rs 880 to Rs 8,250 per sq.ft. The median guideline value for these streets is Rs 3,300 per sq.ft, which is equal to the current value of Lakshmipuram 1-st Main Road.

• Lakshmipuram 15th St: Rs 3,300 per sq.ft (2024)
• Lakshmipuram 1st St: Rs 3,300 per sq.ft (2024)
• Lakshmipuram 14th St: Rs 3,300 per sq.ft (2024)
• Lakshmipuram 2-nd Main Road: Rs 3,300 per sq.ft (2024)
• Lakshmipuram 13th St: Rs 3,300 per sq.ft (2024)
• Lakshmipuram 2nd St: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Lakshmipuram 1-st Main Road

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value would be Rs 33,00,000. The stamp duty at 7% would amount to Rs 2,31,000, while the registration fee at 2% would be Rs 66,000. Together, the total cost for these fees would be Rs 2,97,000. 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 accurate calculations based on your specific property details.

Which Sub Registrar Office covers Lakshmipuram 1-st Main Road?

The Sub Registrar Office that covers Lakshmipuram 1-st Main Road is the Tambaram Joint 1 Sub Registrar Office, located at No.26, mes Road, East Tambaram, Chennai-600059, 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 Tambaram

The guideline value is a crucial factor when registering property transactions in Tambaram. It serves as a reference point to determine the minimum value at which a property can be sold or bought, ensuring that the transaction is recorded accurately for taxation purposes.

When you buy or sell property, the guideline value will be used to calculate the stamp duty and registration fees. These fees are based on the higher of the guideline value or the actual sale price, ensuring that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Lakshmipuram 1-st Main Road?

The current guideline value of Lakshmipuram 1-st Main Road is Rs 3,300 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 600 per sq.ft in 2007 to Rs 3,300 per sq.ft in 2024, reflecting an overall increase of 450% over this period.

What are the stamp duty and registration fees for properties in this area?

For a 1,000 sq.ft property at the current guideline value, the stamp duty would be Rs 2,31,000, and the registration fee would be Rs 66,000, totaling Rs 2,97,000.

Which office handles property registrations for Lakshmipuram 1-st Main Road?

The Tambaram Joint 1 Sub Registrar Office handles property registrations for Lakshmipuram 1-st Main Road, located at No.26, mes Road, East Tambaram, Chennai-600059.

What is the land classification for Lakshmipuram 1-st Main Road?

The land classification for Lakshmipuram 1-st Main Road is Residential Class I Type - I, indicating its suitability for residential development.