Guideline Value for Lakshmipuram 10th St

Lakshmipuram 10th St guideline value

The current guideline value of Lakshmipuram 10th St is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Tambaram village, under the Tambaram Joint 1 SRO, and is classified as Residential Class I Type - I.

How the guideline value of Lakshmipuram 10th St has changed

Over the years, the guideline value of Lakshmipuram 10th St has seen significant changes. In the 2007 revision, the value was Rs 600 per sq.ft, which increased to Rs 3,000 per sq.ft in the 2012 revision. However, this figure dropped to Rs 2,010 per sq.ft in the 2017 revision, marking a decline of 33%. The 2023 revision saw a substantial increase to Rs 3,000 per sq.ft, followed by a further rise to Rs 3,300 per sq.ft in the 2024 revision, reflecting a 10% increase from the previous year.

From 2007 to 2024, the overall increase in the guideline value for Lakshmipuram 10th St is 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 value is Rs 3,300 per sq.ft, which is equal to the current guideline value of Lakshmipuram 10th St.

• Lakshmipuram 11th St: Rs 3,300 per sq.ft (2024)
• Lakshmipuram 12th St: Rs 3,300 per sq.ft (2024)
• Lakshmipuram 13th St: Rs 3,300 per sq.ft (2024)
• Lakshmipuram 14th St: Rs 3,300 per sq.ft (2024)
• Lakshmipuram 15th St: Rs 3,300 per sq.ft (2024)
• Lakshmipuram 1-st Main Road: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Lakshmipuram 10th St

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value amounts to Rs 33,00,000. The stamp duty at 7% would be Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, bringing the total cost to 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 further assistance.

Which Sub Registrar Office covers Lakshmipuram 10th St?

The Sub Registrar Office that covers Lakshmipuram 10th St 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 plays a crucial role when buying or selling property in Tambaram. It serves as a reference point for determining the minimum value at which a property can be registered. This value is essential for calculating the stamp duty and registration fees that are applicable during the transaction.

When a buyer approaches the registration office, they must pay the stamp duty and registration fees based on the guideline value or the sale price, whichever is higher. This ensures that the transaction is recorded accurately and complies with local regulations.

Frequently asked questions

What is the current guideline value of Lakshmipuram 10th St?

The current guideline value of Lakshmipuram 10th St 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. Notable changes include a drop to Rs 2,010 per sq.ft in 2017 and a rise to Rs 3,000 per sq.ft in 2023.

What is the median guideline value in Tambaram?

The median guideline value in Tambaram is Rs 3,300 per sq.ft, which is the same as the current guideline value for Lakshmipuram 10th St.

What are the stamp duty and registration fees for a property in Lakshmipuram 10th St?

For a property valued at Rs 33,00,000, 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 registration for Lakshmipuram 10th St?

The Tambaram Joint 1 Sub Registrar Office handles property registration for Lakshmipuram 10th St, located at No.26, mes Road, East Tambaram, Chennai-600059.