Guideline Value for Lakshmipuram 5th St

Lakshmipuram 5th St guideline value

The current guideline value of Lakshmipuram 5th St is Rs 3,300 per sq.ft, 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 5th St has changed

Over the years, the guideline value of Lakshmipuram 5th St has seen significant changes. The earliest recorded figure is from 2007, where the value was Rs 600 per sq.ft. This increased dramatically to Rs 3,000 per sq.ft in 2012, marking a 400% rise. However, between 2012 and 2017, the value dropped to Rs 2,010 per sq.ft, a decrease of 33%. The value then rose again to Rs 3,000 per sq.ft in 2023, and most recently, it has increased to Rs 3,300 per sq.ft in the 2024 revision, reflecting a 10% increase from the previous year. The register has no figures for the years 2002 and 2003.

From 2017 to 2023, the guideline value increased by 49%, and overall, from 2007 to 2024, there has been a substantial increase of 450%. The changes in the guideline value reflect the evolving property landscape in the area.

Guideline values in Tambaram

In Tambaram, there are 360 streets under the Tambaram Joint 1 SRO that have 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 5th St.

• Lakshmipuram 4th St: Rs 3,300 per sq.ft (2024)
• Lakshmipuram 6th St: Rs 3,300 per sq.ft (2024)
• Lakshmipuram 3rd St: Rs 3,300 per sq.ft (2024)
• Lakshmipuram 7th St: Rs 3,300 per sq.ft (2024)
• Lakshmipuram 2nd St: Rs 3,300 per sq.ft (2024)
• Lakshmipuram 8th St: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Lakshmipuram 5th 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 amount to Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, bringing the total fees to 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 use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Lakshmipuram 5th St?

The Sub Registrar Office that covers Lakshmipuram 5th 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 minimum value at which a property can be registered, ensuring that the government receives appropriate stamp duty and registration fees.

When a property transaction occurs, the buyer and seller must refer to the guideline value to calculate the applicable fees. This process helps maintain transparency in property transactions and ensures that all parties are aware of the financial implications involved.

Frequently asked questions

What is the current guideline value of Lakshmipuram 5th St?

The current guideline value of Lakshmipuram 5th 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 significantly, from Rs 600 per sq.ft in 2007 to Rs 3,300 per sq.ft in 2024, marking an overall increase of 450%.

What is the land classification of Lakshmipuram 5th St?

Lakshmipuram 5th St is classified as Residential Class I Type - I.

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 office handles registrations for Lakshmipuram 5th St?

The Tambaram Joint 1 Sub Registrar Office handles registrations for Lakshmipuram 5th St, located at No.26, Mes Road, East Tambaram, Chennai-600059.