Guideline Value for Lakshmipuram 11th St

Lakshmipuram 11th St guideline value

The current guideline value of Lakshmipuram 11th St is Rs 3,300 per sq.ft, effective from 1 July 2024. This street 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 11th St has changed

The guideline value for Lakshmipuram 11th St has undergone several revisions over the years. The 2012 revision set the value at Rs 3,000 per sq.ft, which remained unchanged until the 2017 revision, where it dropped to Rs 2,010 per sq.ft, marking a decrease of 33%. However, from 2017 to 2023, there was a significant increase of 49%, bringing the value back up to Rs 3,000 per sq.ft. The latest revision in 2024 raised the guideline value to Rs 3,300 per sq.ft, reflecting a 10% increase from the previous year.

The register has no figure for the revisions in 2002, 2003, and 2007 for this street. Overall, the guideline value has increased by 10% from the 2012 revision to the 2024 revision.

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 guideline value of Lakshmipuram 11th St.

• Lakshmipuram 10th 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 11th 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 and the sale price.

You can use our stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Lakshmipuram 11th St?

The Sub Registrar Office that covers Lakshmipuram 11th 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 is a crucial factor in the registration process when buying or selling property in Tambaram. It serves as a benchmark for determining the value of the property, ensuring that the transaction is registered at a fair price as per government regulations.

When a property is sold, the guideline value is used to calculate the stamp duty and registration fees. Buyers should be aware that these fees are based on the higher of the guideline value or the actual sale price, which can impact the overall cost of the transaction.

Frequently asked questions

What is the current guideline value of Lakshmipuram 11th St?

The current guideline value of Lakshmipuram 11th 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 from Rs 3,000 per sq.ft in 2023 to Rs 3,300 per sq.ft in 2024, reflecting a 10% increase. It was Rs 2,010 per sq.ft in 2017 and Rs 3,000 per sq.ft in 2012.

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 value for Lakshmipuram 11th St.

What are the stamp duty rates for properties in Lakshmipuram 11th St?

The stamp duty rate for properties in Lakshmipuram 11th St is 7%, while the registration fee is 2% of the guideline value or sale price, whichever is higher.

Which office do I need to visit for registration in Lakshmipuram 11th St?

The registration for properties in Lakshmipuram 11th St is handled by the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059.