Guideline Value for Lakshmipuram/Kumaraswamy Street

Lakshmipuram/Kumaraswamy Street guideline value

The current guideline value of Lakshmipuram/Kumaraswamy Street is Rs 2,860 per sq.ft, effective from 1 July 2024. This street is located in Thiruneermalai village under the Pammal Sub Registrar Office (SRO) and is classified as Commercial Class I Type - I.

How the guideline value of Lakshmipuram/Kumaraswamy Street has changed

The guideline value for Lakshmipuram/Kumaraswamy Street has undergone several revisions over the years. The oldest available figure is from the 2017 revision, which was Rs 1,742 per sq.ft. This increased to Rs 2,600 per sq.ft in the 2023 revision, reflecting a significant rise of 49%. The most recent revision in 2024 set the guideline value at Rs 2,860 per sq.ft, marking 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 Thiruneermalai

In Thiruneermalai, there are 316 streets under the Pammal SRO that carry a 2024 guideline value, ranging from Rs 1,320 to Rs 6,240 per sq.ft. The median guideline value for these streets is Rs 2,420 per sq.ft, placing Lakshmipuram/Kumaraswamy Street's 2024 figure above this median.

• Lakshmipuram/Mani Naicker Street: Rs 2,860 per sq.ft (2024)
• Lakshmipuram/Ranganathasami 2nd Street: Rs 2,860 per sq.ft (2024)
• Lakshmipuram (All Street): Rs 2,860 per sq.ft (2024)
• Lal Bahadur Sastri Street: Rs 2,200 per sq.ft (2024)
• Maduappar 1st Street: Rs 2,420 per sq.ft (2024)
• Maduappar 2nd Street: Rs 2,420 per sq.ft (2024)

Stamp duty and registration fee for property in Lakshmipuram/Kumaraswamy Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,860 per sq.ft, the total guideline value amounts to Rs 28,60,000. The stamp duty at 7% would be Rs 2,00,200, and the registration fee at 2% would be Rs 57,200, bringing the total to Rs 2,57,400. Please note that the duty is charged on the higher of the guideline value and the sale price. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Lakshmipuram/Kumaraswamy Street?

The Lakshmipuram/Kumaraswamy Street falls under the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, 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 Thiruneermalai

The guideline value is a critical factor in the registration process when buying or selling property in Thiruneermalai. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is sold, the registration office uses the guideline value to calculate the applicable fees, ensuring that the transaction is recorded accurately. Buyers and sellers should be aware of the current guideline value to understand their financial obligations better.

Frequently asked questions

What is the current guideline value of Lakshmipuram/Kumaraswamy Street?

The current guideline value of Lakshmipuram/Kumaraswamy Street is Rs 2,860 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

Since the 2017 revision, the guideline value has increased from Rs 1,742 per sq.ft to Rs 2,860 per sq.ft in 2024, marking an overall increase of 64%.

What are the other guideline values in Thiruneermalai?

In Thiruneermalai, the guideline values for other streets range from Rs 1,320 to Rs 6,240 per sq.ft, with a median value of Rs 2,420 per sq.ft.

How is the stamp duty calculated for properties in Lakshmipuram/Kumaraswamy Street?

The stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, a property valued at Rs 28,60,000 incurs a stamp duty of Rs 2,00,200.

Where can I find the Sub Registrar Office for Lakshmipuram/Kumaraswamy Street?

The Sub Registrar Office for Lakshmipuram/Kumaraswamy Street is located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075. You can find more details online.