Guideline Value for Laksminarayana Perumal Koil Street

Laksminarayana Perumal Koil Street guideline value

The current guideline value of Laksminarayana Perumal Koil Street is Rs 8,300 per sq.ft, effective from 1 July 2024. This street is located in Egmore village and falls under the Periamet SRO, classified as Residential Class I Type - III.

How the guideline value of Laksminarayana Perumal Koil Street has changed

The guideline value for Laksminarayana Perumal Koil Street has seen several revisions over the years. In 2007, the value was Rs 1,500 per sq.ft, which increased significantly to Rs 7,600 per sq.ft in 2012, marking a rise of 407%. However, from 2012 to 2017, the value decreased to Rs 5,092 per sq.ft, a drop of 33%. The value then rose to Rs 7,600 per sq.ft in 2023, reflecting a 49% increase, and has now reached Rs 8,300 per sq.ft in the 2024 revision, which is a 9% increase from the previous year.

It is important to note that the register has no figures for the years 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 453%.

Guideline values in Egmore

In Egmore, there are 465 streets under the Periamet SRO, with guideline values ranging from Rs 2,800 to Rs 22,000 per sq.ft. The median guideline value in this area is Rs 7,100 per sq.ft, which means that Laksminarayana Perumal Koil Street's 2024 figure is above the median.

• LakshmiStreet: Rs 11,000 per sq.ft (2024)
• Lamech Avenue: Rs 13,400 per sq.ft (2024)
• Landons Salai: Rs 13,400 per sq.ft (2024)
• Langs Garden Road: Rs 11,000 per sq.ft (2024)
• Logaiya Maistry Street: Rs 3,900 per sq.ft (2024)
• LabbaiSTreet: Rs 3,900 per sq.ft (2024)

Stamp duty and registration fee for property in Laksminarayana Perumal Koil Street

For a 1,000 sq.ft plot at the current guideline value of Rs 8,300 per sq.ft, the total guideline value would be Rs 83,00,000. The stamp duty at 7% would amount to Rs 5,81,000, while the registration fee at 2% would be Rs 1,66,000, bringing the total to Rs 7,47,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Laksminarayana Perumal Koil Street?

The Sub Registrar Office that covers Laksminarayana Perumal Koil Street is the Periamet Sub Registrar Office, located at 1103, Poonamallee High Road, Chennai-600 003. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process of property transactions in Egmore. It determines the minimum value at which a property can be registered and is used to calculate the stamp duty and registration fees applicable to the transaction.

When buying or selling property, the guideline value ensures that the transaction is recorded at a fair value, preventing undervaluation. Buyers and sellers should be aware that the guideline value may differ from the actual sale price, but the higher amount will be used for calculating fees.

Frequently asked questions

What is the current guideline value of Laksminarayana Perumal Koil Street?

The current guideline value of Laksminarayana Perumal Koil Street is Rs 8,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 1,500 per sq.ft in 2007 to Rs 8,300 per sq.ft in 2024, reflecting an overall increase of 453% over the years.

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

The stamp duty is charged at 7% of the guideline value, while the registration fee is 2%. For a property valued at Rs 83,00,000, the total fees would amount to Rs 7,47,000.

Where is the Sub Registrar Office for Laksminarayana Perumal Koil Street?

The Sub Registrar Office for Laksminarayana Perumal Koil Street is located at 1103, Poonamallee High Road, Chennai-600 003.

What is the significance of the guideline value in property transactions?

The guideline value is used to establish the minimum value for property registration and is essential for calculating stamp duty and registration fees. It ensures that properties are registered at a fair value, preventing undervaluation in transactions.