Guideline Value for Lakshmipuram Annex

Lakshmipuram Annex guideline value

The current guideline value of Lakshmipuram Annex is Rs 1,100 per sq.ft, effective from 1 July 2024. This property is located in Chembarambakkam village under the Poonamallee SRO, classified as Residential Class II Type - I.

How the guideline value of Lakshmipuram Annex has changed

The guideline value for Lakshmipuram Annex has undergone several revisions over the years. The 2012 revision set the value at Rs 1,000 per sq.ft, which was then reduced to Rs 670 per sq.ft in the 2017 revision. However, from 2017 to 2023, there was a significant increase of 49%, bringing the value back up to Rs 1,000 per sq.ft. The most recent revision in 2024 increased the guideline value to Rs 1,100 per sq.ft, marking a 10% rise from the previous year.

There are no recorded figures for the years 2002, 2003, and 2007 in the register for this street. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Chembarambakkam

Chembarambakkam village has a range of guideline values across its 64 streets under the Poonamallee SRO, with figures ranging from Rs 550 to Rs 4,000 per sq.ft. The median guideline value in this area is Rs 1,100 per sq.ft, which is equal to the current guideline value of Lakshmipuram Annex.

• Lime Light: Rs 2,300 per sq.ft (2024)
• Manikandan Nagar: Rs 1,100 per sq.ft (2024)
• M.G.R Nagar: Rs 1,100 per sq.ft (2024)
• Mgr Nagar 100/1: Rs 878 per sq.ft (2024)
• Mithila: Rs 3,960 per sq.ft (2024)
• Nedunchalai: Rs 878 per sq.ft (2024)

Stamp duty and registration fee for property in Lakshmipuram Annex

For a 1,000 sq.ft plot at the current guideline value of Rs 1,100 per sq.ft, the total guideline value would be Rs 11,00,000. The stamp duty at 7% would amount to Rs 77,000, while the registration fee at 2% would be Rs 22,000, bringing the total to Rs 99,000. It is important to note that 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 detailed calculations.

Which Sub Registrar Office covers Lakshmipuram Annex?

The Lakshmipuram Annex is covered by the Poonamallee Sub Registrar Office, located at No.332 U + 9cc Malma Nagar, Poonamallee, Chennai - 600056. For more information, you can find your SRO.

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

The guideline value is a crucial factor in property transactions in Chembarambakkam, as it determines the minimum value at which a property can be registered. Buyers and sellers must consider this value when negotiating sale prices, as it impacts the stamp duty and registration fees applicable during the transaction.

When registering a property, the guideline value is used to calculate the stamp duty, which is charged at a percentage of either the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Lakshmipuram Annex?

The current guideline value of Lakshmipuram Annex is Rs 1,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,000 per sq.ft in 2012 to Rs 670 per sq.ft in 2017, then increased to Rs 1,000 per sq.ft in 2023, and finally to Rs 1,100 per sq.ft in 2024.

What is the land classification for Lakshmipuram Annex?

Lakshmipuram Annex is classified as Residential Class II Type - I, indicating its designation for residential purposes within the area.

What are the stamp duty rates for properties in Lakshmipuram Annex?

The stamp duty rate for properties in Lakshmipuram Annex is 7%, while the registration fee is 2% of the guideline value or sale price, whichever is higher.

Where can I find the Sub Registrar Office for Lakshmipuram Annex?

The Sub Registrar Office covering Lakshmipuram Annex is the Poonamallee Sub Registrar Office, located at No.332 U + 9cc Malma Nagar, Poonamallee, Chennai - 600056.