Guideline Value for Lakshmipuram 4th St

Lakshmipuram 4th St guideline value

The current guideline value of Lakshmipuram 4th 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 4th St has changed

Over the years, the guideline value of Lakshmipuram 4th St has seen several revisions. 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, this value dropped to Rs 2,010 per sq.ft in 2017, reflecting a decrease of 33%. The value then increased to Rs 3,000 per sq.ft in 2023, followed by a further increase to Rs 3,300 per sq.ft in 2024, which is a 10% rise from the previous year. The register has no figures for the years 2002 and 2003 for this street.

From the baseline in 2007 to the current value in 2024, the overall increase in guideline value is 450%. The changes between the revisions highlight the fluctuations and adjustments made to the guideline value over time, reflecting various factors in the real estate landscape.

Guideline values in Tambaram

In Tambaram, there are 360 streets under the Tambaram Joint 1 SRO with a 2024 guideline value ranging from Rs 880 to Rs 8,250 per sq.ft. The median guideline value is Rs 3,300 per sq.ft, which is the same as the current value for Lakshmipuram 4th St.

• Lakshmipuram 3rd St: Rs 3,300 per sq.ft (2024)
• Lakshmipuram 5th St: Rs 3,300 per sq.ft (2024)
• Lakshmipuram 2nd St: Rs 3,300 per sq.ft (2024)
• Lakshmipuram 6th St: Rs 3,300 per sq.ft (2024)
• Lakshmipuram 2-nd Main Road: Rs 3,300 per sq.ft (2024)
• Lakshmipuram 7th St: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Lakshmipuram 4th 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, charged 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 higher of the guideline value and the sale price.

For more information on calculating fees, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Lakshmipuram 4th St?

The Sub Registrar Office that covers Lakshmipuram 4th 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 details.

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 on which stamp duty and registration fees are calculated. This ensures that the property is registered at a value that reflects the current market conditions.

When a property transaction occurs, the guideline value is utilized to assess the applicable duties and fees, which are essential for the legal transfer of property ownership. Buyers and sellers should be aware of the guideline value to ensure compliance with local regulations during the transaction process.

Frequently asked questions

What is the current guideline value of Lakshmipuram 4th St?

The current guideline value of Lakshmipuram 4th 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, marking an overall increase of 450% over the years.

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

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 Sub Registrar Office is responsible for Lakshmipuram 4th St?

The Tambaram Joint 1 Sub Registrar Office is responsible for Lakshmipuram 4th St, located at No.26, mes Road, East Tambaram, Chennai-600059.

What is the land classification for Lakshmipuram 4th St?

Lakshmipuram 4th St is classified as Residential Class I Type - I, indicating its suitability for residential development.