Guideline Value for Lakshmipuram

Lakshmipuram guideline value

The current guideline value of Lakshmipuram, located in Thiruvallur village, is Rs 1,320 per sq.ft, effective from 1 July 2024. This area falls under the Tiruvallur Joint 1 SRO and is classified as Residential Class I Type - II.

How the guideline value of Lakshmipuram has changed

The guideline value for Lakshmipuram has undergone several revisions over the years. In 2007, the value was Rs 200 per sq.ft, which increased significantly to Rs 1,200 per sq.ft in 2012, marking a rise of 500%. However, it then decreased to Rs 804 per sq.ft in 2017, a drop of 33%. Following this, the value saw a substantial increase to Rs 1,200 per sq.ft in 2023, and further to Rs 1,320 per sq.ft in 2024, reflecting a 10% increase.

There are no figures available for the years 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 560%, showcasing significant fluctuations throughout the years.

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 guideline value is Rs 1,100 per sq.ft, placing Lakshmipuram's 2024 figure above this median.

• Lakshmipuram Colony: Rs 880 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

For a 1,000 sq.ft plot at the current guideline value of Rs 1,320 per sq.ft, the total guideline value would be Rs 13,20,000. The stamp duty at 7% would amount to Rs 92,400, and the registration fee at 2% would be Rs 26,400, bringing the total to Rs 1,18,800. It is important to note that the 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?

The Sub Registrar Office that covers Lakshmipuram is the Tiruvallur Joint 1 Sub Registrar Office, located at No.201, J.n.road, Taluk Office Compound, Thiruvallur-602001, Chennai registration zone. 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 property transactions in Thiruvallur, 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 the registration fees and stamp duties are based on the guideline value or the sale price, whichever is higher.

When registering a property, it is essential to ensure that the sale price is at least equal to the guideline value. This helps in avoiding any discrepancies during the registration process and ensures compliance with local regulations.

Frequently asked questions

What is the current guideline value of Lakshmipuram?

The current guideline value of Lakshmipuram is Rs 1,320 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly, from Rs 200 per sq.ft in 2007 to Rs 1,320 per sq.ft in 2024, reflecting an overall increase of 560% over the years.

What are the registration fees for property in Lakshmipuram?

The registration fees for property in Lakshmipuram include a stamp duty of 7% and a registration fee of 2%, calculated on the guideline value or the sale price, whichever is higher.

Which office handles registrations for Lakshmipuram?

The Tiruvallur Joint 1 Sub Registrar Office handles registrations for Lakshmipuram, located at No.201, J.n.road, Taluk Office Compound, Thiruvallur-602001.

What is the median guideline value in Thiruvallur?

The median guideline value in Thiruvallur is Rs 1,100 per sq.ft, with Lakshmipuram's 2024 figure being above this median.