Guideline Value for T.S. Lakshmanan 1st Street

T.S. Lakshmanan 1st Street guideline value

The current guideline value of T.S. Lakshmanan 1st Street is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Zaminpallavaram village, under the Pallavaram SRO, and is classified as Residential Class I Type - II.

How the guideline value of T.S. Lakshmanan 1st Street has changed

Since the 2003 revision, the guideline value for T.S. Lakshmanan 1st Street has seen significant changes. In 2003, the value was Rs 690 per sq.ft. It increased to Rs 1,000 per sq.ft in 2007, marking a rise of 45%. The value then surged to Rs 3,000 per sq.ft in 2012, a substantial increase of 200%. However, it dropped to Rs 2,010 per sq.ft in 2017, reflecting a decrease of 33%. The value rose again to Rs 3,000 per sq.ft in 2023, and most recently to Rs 3,300 per sq.ft in 2024, which is a 10% increase from the previous year.

Overall, from 2003 to 2024, the guideline value has increased by 378%. Notably, the register has no figure for the year 2002 for this street.

Guideline values in Zaminpallavaram

In Zaminpallavaram, there are 638 streets under the Pallavaram SRO with a 2024 guideline value ranging from Rs 2,100 to Rs 11,000 per sq.ft. The median value is Rs 3,300 per sq.ft, which is equal to the current guideline value for T.S. Lakshmanan 1st Street.

• T.S. Lakshmanan 2nd Street: Rs 3,300 per sq.ft (2024)
• T.S.Lakshmanan Nagar: Rs 3,300 per sq.ft (2024)
• T.S. Lakshmanan Nagar 1st Street (Near Thiruneer Malai Road): Rs 3,300 per sq.ft (2024)
• T.S. Lakshmanan Nagar 2nd Street (Near Thiruneer Malai Road): Rs 3,300 per sq.ft (2024)
• Tvs Emerald: Rs 4,400 per sq.ft (2024)
• Tirumurugan Nagar 1st Street: Rs 2,160 per sq.ft (2024)

Stamp duty and registration fee for property in T.S. Lakshmanan 1st Street

For a 1,000 sq.ft plot at the current rate, the guideline value is Rs 33,00,000. The stamp duty at 7% would be Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, totaling Rs 2,97,000. 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 T.S. Lakshmanan 1st Street?

The Sub Registrar Office that covers T.S. Lakshmanan 1st Street is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in property transactions in Zaminpallavaram. It serves as the minimum value for which a property can be registered, ensuring that the government receives the appropriate stamp duty and registration fees based on this value.

When buying or selling property, the guideline value is used to calculate the applicable taxes and fees. This value is essential for both buyers and sellers to understand their financial obligations during the transaction process.

Frequently asked questions

What is the current guideline value of T.S. Lakshmanan 1st Street?

The current guideline value of T.S. Lakshmanan 1st Street is Rs 3,300 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 690 per sq.ft in 2003 to Rs 3,300 per sq.ft in 2024, marking an overall increase of 378% over the years.

What is the land classification of T.S. Lakshmanan 1st Street?

T.S. Lakshmanan 1st Street is classified as Residential Class I Type - II.

Where can I find the Sub Registrar Office for T.S. Lakshmanan 1st Street?

The Sub Registrar Office for T.S. Lakshmanan 1st Street is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044.

How is stamp duty calculated for properties in T.S. Lakshmanan 1st Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a plot valued at Rs 33,00,000, the stamp duty would be Rs 2,31,000 at 7%.