Guideline Value for Laskhmi Land

Laskhmi Land guideline value

The current guideline value of Laskhmi Land in Kolathur village, under the Sriperumpudur SRO, is Rs 250 per sq.ft, effective from 1 July 2024. This property falls under the Residential Class I Type - I classification.

How the guideline value of Laskhmi Land has changed

The guideline value for Laskhmi Land has seen several revisions over the years. The 2012 revision set the value at Rs 250 per sq.ft, which remained unchanged until the 2023 revision, also at Rs 250 per sq.ft. The 2017 revision recorded a lower value of Rs 167 per sq.ft, marking a decrease of 33% from the previous figure. From 2017 to 2023, there was a significant increase of 50% to return to Rs 250 per sq.ft.

As of the latest 2024 revision, the guideline value remains at Rs 250 per sq.ft, indicating no change from the previous year. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Kolathur

In Kolathur, there are 45 streets under the Sriperumpudur SRO that carry a 2024 guideline value ranging from Rs 100 to Rs 1,300 per sq.ft. The median value for these streets is Rs 250 per sq.ft, which is equal to the guideline value for Laskhmi Land.

• Lakshmi Nagar: Rs 250 per sq.ft (2024)
• Main Road: Rs 600 per sq.ft (2024)
• M.G.R Main Road: Rs 200 per sq.ft (2024)
• M.G.R Street: Rs 200 per sq.ft (2024)
• Kamaraj Nagar: Rs 300 per sq.ft (2024)
• Ideal Forms: Rs 200 per sq.ft (2024)

Stamp duty and registration fee for property in Laskhmi Land

For a 1,000 sq.ft plot at the current guideline value of Rs 250 per sq.ft, the total guideline value amounts to Rs 2,50,000. The stamp duty at 7% would be Rs 17,500, and the registration fee at 2% would be Rs 5,000, totaling Rs 22,500. 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.

Which Sub Registrar Office covers Laskhmi Land?

The Laskhmi Land property is covered by the Sriperumpudur Sub Registrar Office located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone. You can find your SRO for further assistance.

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

The guideline value plays a crucial role in property transactions in Kolathur. When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees that need to be paid at the time of registration.

It is essential for buyers and sellers to be aware of the guideline value as it directly impacts the overall cost of property transactions. Ensuring that the property is registered at the correct guideline value helps in maintaining transparency and legal compliance in real estate dealings.

Frequently asked questions

What is the current guideline value of Laskhmi Land?

The current guideline value of Laskhmi Land is Rs 250 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Over the years, the guideline value has remained at Rs 250 per sq.ft for several revisions, with a notable drop to Rs 167 per sq.ft in 2017 before returning to Rs 250 per sq.ft in 2023 and 2024.

What is the land classification for Laskhmi Land?

Laskhmi Land is classified as Residential Class I Type - I, indicating its suitability for residential development.

Where can I find the Sub Registrar Office for Laskhmi Land?

The Sub Registrar Office covering Laskhmi Land is located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone.

How is stamp duty calculated for properties in Kolathur?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 2,50,000, the stamp duty would be Rs 17,500 at a rate of 7%.