Guideline Value for Lakshmipuram 13th St

Lakshmipuram 13th St guideline value

The current guideline value of Lakshmipuram 13th 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, classified as Residential Class I Type - I.

How the guideline value of Lakshmipuram 13th St has changed

The guideline value for Lakshmipuram 13th St has undergone several revisions over the years. In 2007, the guideline value was Rs 600 per sq.ft, which increased significantly to Rs 3,000 per sq.ft in 2012, marking a 400% rise. However, from 2012 to 2017, the value decreased to Rs 2,010 per sq.ft, a drop of 33%. The value then rose again to Rs 3,000 per sq.ft in 2023, and finally reached Rs 3,300 per sq.ft in the 2024 revision, reflecting a 10% increase from the previous year.

Between 2017 and 2023, the guideline value increased by 49%. Overall, from 2007 to 2024, there has been a substantial increase of 450%. It is important to note that there are no figures available for the years 2002 and 2003 in the register 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 the same as the current value for Lakshmipuram 13th St.

• Lakshmipuram 12th St: Rs 3,300 per sq.ft (2024)
• Lakshmipuram 14th St: Rs 3,300 per sq.ft (2024)
• Lakshmipuram 11th St: Rs 3,300 per sq.ft (2024)
• Lakshmipuram 15th St: Rs 3,300 per sq.ft (2024)
• Lakshmipuram 10th 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 13th 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 at 7% would be Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, bringing the total to Rs 2,97,000. 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 details.

Which Sub Registrar Office covers Lakshmipuram 13th St?

The Sub Registrar Office that covers Lakshmipuram 13th 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 property transactions in Tambaram. It serves as a benchmark for determining the stamp duty and registration fees that must be paid during the registration process. Buyers and sellers should be aware that the guideline value is used to calculate these fees, ensuring compliance with local regulations.

When purchasing property, the guideline value helps in understanding the minimum value at which a property can be registered. This ensures transparency and fairness in property transactions, as it prevents undervaluation and ensures that the government receives appropriate revenue from property sales.

Frequently asked questions

What is the current guideline value of Lakshmipuram 13th St?

The current guideline value of Lakshmipuram 13th 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 600 per sq.ft in 2007 to Rs 3,300 per sq.ft in 2024, reflecting an overall increase of 450% over the years.

What are the stamp duty and registration fees for property in Lakshmipuram 13th St?

The stamp duty is 7% and the registration fee is 2%. For a 1,000 sq.ft plot, the total fees would amount to Rs 2,97,000.

Which Sub Registrar Office covers Lakshmipuram 13th St?

The Tambaram Joint 1 Sub Registrar Office covers Lakshmipuram 13th St, located at No.26, Mes Road, East Tambaram, Chennai-600059.

What is the land classification for Lakshmipuram 13th St?

Lakshmipuram 13th St is classified as Residential Class I Type - I, indicating its suitability for residential purposes.