Guideline Value for Lakshmipuram 6th St

Lakshmipuram 6th St guideline value

The current guideline value of Lakshmipuram 6th 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 6th St has changed

The guideline value for Lakshmipuram 6th St has seen several revisions over the years. In 2007, the 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 by 33% to Rs 2,010 per sq.ft in 2017. The subsequent revision in 2023 raised the value to Rs 3,000 per sq.ft, followed by the current rate of Rs 3,300 per sq.ft from 2024, reflecting a 10% increase.

From the 2017 revision to 2023, there was a substantial increase of 49%. Overall, from 2007 to 2024, the guideline value has risen by 450%. The register does not contain figures for the years 2002 and 2003 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 among these streets is Rs 3,300 per sq.ft, which is equal to the current guideline value of Lakshmipuram 6th St.

• Lakshmipuram 5th St: Rs 3,300 per sq.ft (2024)
• Lakshmipuram 7th St: Rs 3,300 per sq.ft (2024)
• Lakshmipuram 4th St: Rs 3,300 per sq.ft (2024)
• Lakshmipuram 8th St: Rs 3,300 per sq.ft (2024)
• Lakshmipuram 3rd St: Rs 3,300 per sq.ft (2024)
• Lakshmipuram 9th St: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Lakshmipuram 6th 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, resulting in a total of 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.

For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Lakshmipuram 6th St?

The Sub Registrar Office that covers Lakshmipuram 6th 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 during the registration of property transactions in Tambaram. It serves as a benchmark for calculating the stamp duty and registration fees, ensuring that the government receives its due revenue from property sales.

When buying or selling property, the guideline value helps establish a fair price for the transaction, as it reflects the government's assessment of property values in the area. Buyers and sellers should be aware of the guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Lakshmipuram 6th St?

The current guideline value of Lakshmipuram 6th 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 is the stamp duty for property in Lakshmipuram 6th St?

The stamp duty for property in Lakshmipuram 6th St is 7% of the guideline value or the sale price, whichever is higher.

What are the other streets in Tambaram with the same guideline value?

Other streets in Tambaram with a guideline value of Rs 3,300 per sq.ft include Lakshmipuram 5th St, 7th St, 4th St, 8th St, 3rd St, and 9th St.

Where can I find the Sub Registrar Office for Lakshmipuram 6th St?

The Sub Registrar Office for Lakshmipuram 6th St is the Tambaram Joint 1 Sub Registrar Office, located at No.26, mes Road, East Tambaram, Chennai-600059.