Guideline Value for Lakshmipuram

Lakshmipuram guideline value

The current guideline value of Lakshmipuram, located in Agraharam Vada village under the Poonamallee SRO, is Rs 880 per sq.ft, effective from 1 July 2024. The land classification for this area is Residential Special Type - I.

How the guideline value of Lakshmipuram has changed

In the 2017 revision, the guideline value was Rs 536 per sq.ft. This increased significantly to Rs 800 per sq.ft in the 2023 revision, marking a change of 49%. The most recent revision in 2024 set the guideline value at Rs 880 per sq.ft, reflecting a 10% increase from the previous year.

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

Guideline values in Agraharam Vada

In Agraharam Vada, there are 17 streets under the Poonamallee SRO that carry a 2024 guideline value ranging from Rs 660 to Rs 1,650 per sq.ft. The median value for these streets is Rs 880 per sq.ft, which is equal to the guideline value for Lakshmipuram.

• L.K.B Nagar: Rs 880 per sq.ft (2024)
• Manickam Nagar: Rs 880 per sq.ft (2024)
• Manickam Nagar Extn: Rs 880 per sq.ft (2024)
• M.S.Nagar: Rs 1,650 per sq.ft (2024)
• Ms Nagar 47/2a: Rs 1,100 per sq.ft (2024)
• M.S.V Nagar: Rs 1,650 per sq.ft (2024)

Stamp duty and registration fee for property in Lakshmipuram

For a 1,000 sq.ft plot at the current guideline value of Rs 880 per sq.ft, the total 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. It is important to note that the duty is charged on either 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?

The Sub Registrar Office covering Lakshmipuram is the Poonamallee Sub Registrar Office, located at No.332 U + 9cc Malma Nagar Poonamallee Chennai - 600056. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Agraharam Vada. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction.

When a property is registered, the guideline value is compared with the sale price, and the higher amount is used to calculate the applicable duties. This ensures that the registration process reflects the true value of the property being transferred.

Frequently asked questions

What is the current guideline value of Lakshmipuram?

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

How has the guideline value changed over the years?

Since the 2017 revision, the guideline value has increased from Rs 536 per sq.ft to Rs 880 per sq.ft in 2024, marking an overall rise of 64%.

What is the land classification for Lakshmipuram?

The land classification for Lakshmipuram is Residential Special Type - I.

Where can I find the Sub Registrar Office for Lakshmipuram?

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

How is the stamp duty calculated for properties in Lakshmipuram?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 8,80,000, the stamp duty at 7% would be Rs 61,600.