Guideline Value for T.S.LAKSHMANAN NAGAR

T.S.Lakshmanan Nagar guideline value

The current guideline value of T.S.Lakshmanan Nagar is Rs 3,300 per sq.ft, effective from 1 July 2024. This area 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 Nagar has changed

The guideline value for T.S.Lakshmanan Nagar has seen several revisions over the years. The 2012 revision set the value at Rs 3,000 per sq.ft, which was then reduced to Rs 2,010 per sq.ft in the 2017 revision. Following this, the value increased significantly to Rs 3,000 per sq.ft in the 2023 revision, and further to Rs 3,300 per sq.ft in the 2024 revision. Notably, there are no figures available for the revisions in 2002, 2003, and 2007 for this street.

From 2012 to 2017, the guideline value decreased by 33%. However, from 2017 to 2023, it increased by 49%, and from 2023 to 2024, there was a 10% increase. Overall, comparing the values from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Zaminpallavaram

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

• T.S. Lakshmanan 2nd Street: 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 1st Street: 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 Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value amounts to 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, bringing the total cost for these fees to Rs 2,97,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information on calculating fees, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers T.S.Lakshmanan Nagar?

The Sub Registrar Office that covers T.S.Lakshmanan Nagar 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 details.

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

The guideline value is a crucial factor when buying or selling property in Zaminpallavaram, as it determines the minimum value on which stamp duty and registration fees are calculated. Buyers and sellers must consider this value to ensure compliance with local regulations during the registration process.

When a property is sold, the guideline value serves as a reference point for the transaction. If the sale price is higher than the guideline value, the stamp duty is calculated based on the sale price instead.

Frequently asked questions

What is the current guideline value of T.S.Lakshmanan Nagar?

The current guideline value of T.S.Lakshmanan Nagar 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 from Rs 3,000 in 2012 to Rs 2,010 in 2017, then increased to Rs 3,000 in 2023, and finally to Rs 3,300 in 2024.

What is the land classification for T.S.Lakshmanan Nagar?

T.S.Lakshmanan Nagar is classified as Residential Class I Type - II.

Which office handles registrations for T.S.Lakshmanan Nagar?

The Pallavaram Sub Registrar Office handles registrations for T.S.Lakshmanan Nagar, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044.

How is stamp duty calculated in T.S.Lakshmanan Nagar?

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%.