Guideline Value for Lakshmipuram Extension & All Street

Lakshmipuram Extension & All Street guideline value

The current guideline value for Lakshmipuram Extension & All Street 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 falls under the Residential Class I Type - I land classification.

How the guideline value of Lakshmipuram Extension & All Street has changed

The guideline value for Lakshmipuram Extension & All Street has seen significant changes over the years. In the 2017 revision, the value was Rs 2,010 per sq.ft, which increased to Rs 3,000 per sq.ft in 2023, marking a 49% increase. The most recent revision in 2024 raised the guideline value to Rs 3,300 per sq.ft, reflecting a 10% increase from the previous year.

Overall, from the 2017 revision to the 2024 revision, the guideline value has increased by 64%. It is important to note that there are no figures available for the revisions in 2002, 2003, 2007, and 2012 for this street.

Guideline values in Tambaram

In Tambaram village, there are a total of 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 for Lakshmipuram Extension & All Street.

• LAKSHMIPURAM EXTENSION 14tH STREET: Rs 3,300 per sq.ft (2024)
• Lakshmipuram extn: Rs 3,300 per sq.ft (2024)
• Lakshmipuram extn Main: Rs 3,300 per sq.ft (2024)
• Lakshmipuram 9th St: Rs 3,300 per sq.ft (2024)
• Lakshmipuram-Gandhi Road: 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 Extension & All Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value amounts to Rs 33,00,000. The stamp duty at 7% would be Rs 2,31,000, and the registration fee at 2% would be Rs 66,000. Together, the total cost for stamp duty and registration fee 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.

You can use the stamp duty and registration fee calculator for more details on fees applicable to your property transaction.

Which Sub Registrar Office covers Lakshmipuram Extension & All Street?

The Sub Registrar Office that covers Lakshmipuram Extension & All Street 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 further assistance.

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

The guideline value is a crucial factor in property transactions in Tambaram. It serves as the minimum value at which a property can be registered, ensuring that all transactions are conducted at a fair value as determined by the government. This value is used to calculate the stamp duty and registration fees that are payable when a property is bought or sold.

When buying or selling property, it is essential to be aware of the guideline value, as it directly impacts the financial obligations of both the buyer and the seller. The guideline value helps in maintaining transparency in property transactions and prevents undervaluation of properties.

Frequently asked questions

What is the current guideline value for Lakshmipuram Extension & All Street?

The current guideline value for Lakshmipuram Extension & All Street is Rs 3,300 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has changed from Rs 2,010 per sq.ft in 2017 to Rs 3,300 per sq.ft in 2024, marking an overall increase of 64% over this period.

What are the stamp duty and registration fees for a property in this area?

For a 1,000 sq.ft plot at the current guideline value, the total stamp duty and registration fees would amount to Rs 2,97,000, calculated based on the guideline value of Rs 33,00,000.

Which office should I approach for registration in this area?

The Tambaram Joint 1 Sub Registrar Office is responsible for property registration in Lakshmipuram Extension & All Street, located at No.26, MES Road, East Tambaram, Chennai-600059.

What is the land classification for Lakshmipuram Extension & All Street?

Lakshmipuram Extension & All Street is classified as Residential Class I Type - I, indicating its suitability for residential development.