Guideline Value for Lakshmipuram 5th Cross Street

Lakshmipuram 5th Cross Street guideline value

The current guideline value of Lakshmipuram 5th Cross Street is Rs 4,400 per sq.ft, effective from 1 July 2024. This street is located in Velachery village, under the Velacheri SRO, and is classified as Residential Class II Type - II.

How the guideline value of Lakshmipuram 5th Cross Street has changed

The guideline value for Lakshmipuram 5th Cross Street was last revised in 2024 to Rs 4,400 per sq.ft. Prior to this, the 2012 revision set the value at Rs 4,000 per sq.ft, reflecting a change of +10% over the years. The register has no figure for this street for the years 2023, 2017, 2007, 2003, and 2002.

In summary, the guideline value increased from Rs 4,000 per sq.ft in 2012 to Rs 4,400 per sq.ft in 2024. This change indicates a steady increase in the guideline value over the past decade.

Guideline values in Velachery

In Velachery, there are 2,691 streets under the Velacheri SRO that carry a 2024 guideline value, ranging from Rs 3,300 to Rs 13,200 per sq.ft. The median guideline value is Rs 4,400 per sq.ft, which is equal to the 2024 figure for Lakshmipuram 5th Cross Street.

• Lakshmipuram 4th Street: Rs 4,400 per sq.ft (2024)
• Lakshmipuram 5th Street: Rs 4,400 per sq.ft (2024)
• Lakshmipuram 4th Cross Street: Rs 4,400 per sq.ft (2024)
• Lakshmipuram 3rd Street: Rs 4,400 per sq.ft (2024)
• Lakshmipuram 3rd Cross Street: Rs 4,400 per sq.ft (2024)
• Lakshmipuram 2nd Street: Rs 4,400 per sq.ft (2024)

Stamp duty and registration fee for property in Lakshmipuram 5th Cross Street

For a 1,000 sq.ft plot at the current rate of Rs 4,400 per sq.ft, the guideline value amounts to Rs 44,00,000. The stamp duty at 7% would be Rs 3,08,000, and the registration fee at 2% would be Rs 88,000, totaling Rs 3,96,000. 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 5th Cross Street?

The Sub Registrar Office that covers Lakshmipuram 5th Cross Street is the Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042. You can find your SRO for more information.

How the guideline value is used when you buy or sell in Velachery

The guideline value is a crucial factor during the registration of property transactions in Velachery. It serves as a benchmark for determining the stamp duty and registration fees that are applicable when buying or selling property.

When a property is registered, the guideline value is used to calculate the applicable charges, ensuring that both the buyer and seller are aware of the financial obligations involved in the transaction. This process helps maintain transparency in property dealings.

Frequently asked questions

What is the current guideline value of Lakshmipuram 5th Cross Street?

The current guideline value of Lakshmipuram 5th Cross Street is Rs 4,400 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has changed from Rs 4,000 per sq.ft in 2012 to Rs 4,400 per sq.ft in 2024, marking a +10% increase over this period.

Are there any years without a guideline value for this street?

Yes, the register has no figure for Lakshmipuram 5th Cross Street for the years 2023, 2017, 2007, 2003, and 2002.

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

For a 1,000 sq.ft plot valued at Rs 4,400 per sq.ft, the total guideline value is Rs 44,00,000. The stamp duty would be Rs 3,08,000, and the registration fee would be Rs 88,000, totaling Rs 3,96,000.

Where can I find the Sub Registrar Office for Lakshmipuram 5th Cross Street?

The Velacheri Sub Registrar Office, which covers Lakshmipuram 5th Cross Street, is located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.