Guideline Value for Lakshmipuram Colony

Lakshmipuram Colony guideline value

The current guideline value of Lakshmipuram Colony is Rs 880 per sq.ft, effective from 1 July 2024. This area is located in Thiruvallur village and falls under the Tiruvallur Joint 1 SRO. The land classification for this colony is Residential Class IV Type - I.

How the guideline value of Lakshmipuram Colony has changed

The guideline value for Lakshmipuram Colony has seen several revisions over the years. In 2003, the value was Rs 117 per sq.ft, which increased to Rs 200 per sq.ft in 2007. The 2012 revision brought it to Rs 800 per sq.ft, but it then decreased to Rs 536 per sq.ft in 2017. The most recent revisions show an increase to Rs 800 per sq.ft in 2023, followed by a further increase to Rs 880 per sq.ft in 2024, marking a 10% rise.

Overall, from 2003 to 2024, the guideline value has increased by 652%. The register has no figure for the year 2002 for this street.

Guideline values in Thiruvallur

In Thiruvallur, there are 172 streets under the Tiruvallur Joint 1 SRO with a 2024 guideline value ranging from Rs 550 to Rs 3,850 per sq.ft. The median value is Rs 1,100 per sq.ft, indicating that Lakshmipuram Colony's 2024 figure is below this median.

• Lakshmipuram: Rs 1,320 per sq.ft (2024)
• Lal Bhagathur Sastri Street: Rs 1,100 per sq.ft (2024)
• Langakara Street: Rs 1,650 per sq.ft (2024)
• Kuttaikkarai Street: Rs 2,200 per sq.ft (2024)
• Kumeravel Nagar: Rs 2,200 per sq.ft (2024)
• Kumaran Cross Street: Rs 1,100 per sq.ft (2024)

Stamp duty and registration fee for property in Lakshmipuram Colony

For a 1,000 sq.ft plot at the current rate of Rs 880 per sq.ft, the guideline value amounts to Rs 8,80,000. The stamp duty at 7% would be Rs 61,600, and the registration fee at 2% would be Rs 17,600, bringing the total to Rs 79,200. 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 Colony?

The Sub Registrar Office that covers Lakshmipuram Colony is the Tiruvallur Joint 1 Sub Registrar Office, located at No.201, J.n.road, Taluk Office Compound, Thiruvallur-602001. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process for property transactions in Thiruvallur. It serves as a benchmark for determining the stamp duty and registration fees, which are calculated based on the higher of the guideline value or the sale price.

Frequently asked questions

What is the current guideline value of Lakshmipuram Colony?

The current guideline value of Lakshmipuram Colony is Rs 880 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 117 per sq.ft in 2003 to Rs 880 per sq.ft in 2024, reflecting an overall increase of 652% over this period.

What is the median guideline value in Thiruvallur?

The median guideline value in Thiruvallur is Rs 1,100 per sq.ft, which is above the current value of Lakshmipuram Colony.

What are the stamp duty and registration fees for properties in Lakshmipuram Colony?

For a property valued at Rs 8,80,000, the stamp duty would be Rs 61,600 and the registration fee would be Rs 17,600, totaling Rs 79,200.

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

The Sub Registrar Office for Lakshmipuram Colony is located at No.201, J.n.road, Taluk Office Compound, Thiruvallur-602001.