Guideline Value for Lakshmipuram 9th St

Lakshmipuram 9th St guideline value

The current guideline value of Lakshmipuram 9th 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 9th St has changed

The guideline value for Lakshmipuram 9th St has undergone several revisions over the years. The earliest recorded revision is from 2007, where the value was Rs 600 per sq.ft. This increased significantly to Rs 3,000 per sq.ft in 2012, marking a 400% rise. However, in 2017, the value dropped to Rs 2,010 per sq.ft, reflecting a decrease of 33%. By 2023, the guideline value rose to Rs 3,000 per sq.ft, and the latest revision in 2024 set it at Rs 3,300 per sq.ft, which is a 10% increase from the previous year.

From 2017 to 2023, the value saw a substantial increase of 49%. Overall, from the 2007 revision to the current 2024 figure, there has been a remarkable increase of 450%. It is important to note that there are no figures available 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 is Rs 3,300 per sq.ft, which matches the current guideline value for Lakshmipuram 9th St.

• Lakshmipuram 8th St: Rs 3,300 per sq.ft (2024)
• Lakshmipuram 7th St: Rs 3,300 per sq.ft (2024)
• LAKSHMIPURAM EXTENSION 14tH STREET: Rs 3,300 per sq.ft (2024)
• Lakshmipuram 6th St: Rs 3,300 per sq.ft (2024)
• Lakshmipuram Extension & All Street: Rs 3,300 per sq.ft (2024)
• Lakshmipuram 5th St: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Lakshmipuram 9th 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 is charged at 7%, amounting to Rs 2,31,000, and the registration fee at 2% totals Rs 66,000. Together, the total cost for stamp duty and registration would be 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 more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Lakshmipuram 9th St?

The Sub Registrar Office that covers Lakshmipuram 9th 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 is a crucial factor in the registration process when buying or selling property in Tambaram. It serves as a benchmark for determining the stamp duty and registration fees applicable during the transaction.

When a property is sold, the buyer must pay stamp duty based on the higher value between the guideline value and the actual sale price. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Lakshmipuram 9th St?

The current guideline value of Lakshmipuram 9th 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 rate in Tambaram?

The stamp duty rate in Tambaram is 7% of the guideline value or sale price, whichever is higher.

Where is the Sub Registrar Office for Lakshmipuram 9th St located?

The Tambaram Joint 1 Sub Registrar Office is located at No.26, Mes Road, East Tambaram, Chennai-600059.

What other streets have the same guideline value in Tambaram?

Other streets in Tambaram with a guideline value of Rs 3,300 per sq.ft include Lakshmipuram 8th St, Lakshmipuram 7th St, and Lakshmipuram 6th St, among others.