Guideline Value for Lakshmipuram 12th St

Lakshmipuram 12th St guideline value

The current guideline value of Lakshmipuram 12th St is Rs 3,300 per sq.ft as per the 2024 revision, 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 12th St has changed

Over the years, the guideline value of Lakshmipuram 12th St has seen several revisions. The 2012 revision set the value at Rs 3,000 per sq.ft, which then decreased to Rs 2,010 per sq.ft in the 2017 revision. Following this, the value increased significantly to Rs 3,000 per sq.ft in 2023, and further rose to Rs 3,300 per sq.ft 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.

When examining the changes, from 2012 to 2017, there was a decrease of 33%. However, from 2017 to 2023, the value increased by 49%. The overall change from 2012 to 2024 shows a modest increase of 10%.

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 12th St.

• Lakshmipuram 11th St: Rs 3,300 per sq.ft (2024)
• Lakshmipuram 13th St: Rs 3,300 per sq.ft (2024)
• Lakshmipuram 10th 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 12th St

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, charged at 7%, would amount to Rs 2,31,000, while the registration fee at 2% would be Rs 66,000. Therefore, the total cost for stamp duty and registration fees combined 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 also use our stamp duty and registration fee calculator for more precise calculations.

Which Sub Registrar Office covers Lakshmipuram 12th St?

The Sub Registrar Office that covers Lakshmipuram 12th St is the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059, 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 Tambaram

The guideline value plays a crucial role in the registration process when buying or selling property in Tambaram. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is documented at a fair value.

When registering a property, the buyer must pay stamp duty and registration fees based on the guideline value or the sale price, whichever is higher. This ensures that the government receives appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Lakshmipuram 12th St?

The current guideline value of Lakshmipuram 12th 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 2012 to Rs 2,010 per sq.ft in 2017, then increased to Rs 3,000 per sq.ft in 2023, and finally to Rs 3,300 per sq.ft in 2024.

What is the land classification for Lakshmipuram 12th St?

Lakshmipuram 12th St is classified as Residential Class I Type - I, indicating its suitability for residential development.

What are the stamp duty and registration fees for properties in Lakshmipuram 12th 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.

Where can I find the Sub Registrar Office for Lakshmipuram 12th St?

The Sub Registrar Office for Lakshmipuram 12th St is the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059.