Guideline Value for School Street / Lakshmipuram

School Street / Lakshmipuram guideline value

The current guideline value of School Street / Lakshmipuram in Thiruneermalai village is Rs 2,860 per sq.ft, effective from 1 July 2024. This area falls under the Pammal SRO and is classified as Commercial Class I Type - I.

How the guideline value of School Street / Lakshmipuram has changed

The guideline value for School Street / Lakshmipuram has undergone several revisions over the years. The earliest recorded figure is from 2003, which was Rs 312 per sq.ft. This value saw significant increases over the years, with the 2007 revision showing a rise to Rs 810 per sq.ft, marking a 160% increase. In 2017, the value jumped to Rs 1,742 per sq.ft, reflecting a 115% increase from the previous revision. By 2023, the guideline value reached Rs 2,600 per sq.ft, a 49% increase from 2017.

The most recent revision in 2024 set the guideline value at Rs 2,860 per sq.ft, representing a 10% increase from the previous year. It is important to note that there are no figures available for the years 2002 and 2012 for this street.

Guideline values in Thiruneermalai

In Thiruneermalai, there are 316 streets under the Pammal SRO that have 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 School Street / Lakshmipuram above this median.

• Selva Vinayagar Koil Street: Rs 2,200 per sq.ft (2024)
• Saraswathipuram Extn 2nd Street: Rs 2,860 per sq.ft (2024)
• Saraswathipuram Extn 1st Street: Rs 2,860 per sq.ft (2024)
• Saraswathipuram Extn.: Rs 2,860 per sq.ft (2024)
• Saraswathipuram 3rd Main Road: Rs 2,860 per sq.ft (2024)
• Saraswathipuram 2nd Main Road: Rs 2,860 per sq.ft (2024)

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

For a 1,000 sq.ft plot at the current guideline value of Rs 2,860 per sq.ft, the total guideline value would be Rs 28,60,000. The stamp duty at 7% would amount to Rs 2,00,200, and the registration fee at 2% would be Rs 57,200. Together, the total cost for stamp duty and registration would be Rs 2,57,400. It is important to note that duty is charged on 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 School Street / Lakshmipuram?

The Sub Registrar Office that covers School Street / Lakshmipuram is the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, Chengalpattu registration zone. You can find your SRO for further assistance.

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

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

When a property is sold, the guideline value helps ensure that the transaction is recorded accurately, reflecting the official value set by the government. This process helps maintain transparency and standardization in property transactions.

Frequently asked questions

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

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

How has the guideline value changed over the years?

The guideline value has increased significantly from Rs 312 per sq.ft in 2003 to Rs 2,860 per sq.ft in 2024, marking an overall increase of 817% over the years.

What is the land classification for School Street / Lakshmipuram?

School Street / Lakshmipuram is classified as Commercial Class I Type - I, indicating its suitability for commercial activities.

What are the other streets in Thiruneermalai with similar guideline values?

Other streets in Thiruneermalai with similar guideline values include Selva Vinayagar Koil Street at Rs 2,200 per sq.ft and several streets at Rs 2,860 per sq.ft, including Saraswathipuram Extn 2nd Street and Saraswathipuram Extn 1st Street.

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

The Sub Registrar Office for School Street / Lakshmipuram is located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, Chengalpattu registration zone.