Guideline Value for T.V.Lakshmipathi Street

T.V.Lakshmipathi Street guideline value

The current guideline value of T.V.Lakshmipathi Street is Rs 830 per sq.ft, effective from 1 July 2024. This street is located in Agaramthen village under the Tambaram Joint 1 SRO, classified as Residential Class I Type - II.

How the guideline value of T.V.Lakshmipathi Street has changed

In the 2012 revision, the guideline value was Rs 750 per sq.ft. This figure remained unchanged until the 2017 revision, where it dropped to Rs 502 per sq.ft, marking a decrease of 33%. The value then increased significantly to Rs 750 per sq.ft in the 2023 revision, followed by a further increase to Rs 830 per sq.ft in the 2024 revision, which represents an 11% rise from the previous year.

Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 11%. The register has no figures for the years 2002, 2003, and 2007 for T.V.Lakshmipathi Street.

Guideline values in Agaramthen

Agaramthen has a total of 125 streets under the Tambaram Joint 1 SRO, with guideline values ranging from Rs 440 to Rs 3,700 per sq.ft. The median guideline value is Rs 830 per sq.ft, which is equal to the 2024 figure for T.V.Lakshmipathi Street.

• T.V.Srinivasan Street: Rs 830 per sq.ft (2024)
• Tiana Sky City Extension -III: Rs 3,450 per sq.ft (2024)
• Tiana Sky City Extension II - EGK Street: Rs 2,310 per sq.ft (2024)
• Tiana Sky City Extension-I: Rs 3,500 per sq.ft (2024)
• Tiana Sky City: Rs 3,300 per sq.ft (2024)
• Vallalar Street: Rs 830 per sq.ft (2024)

Stamp duty and registration fee for property in T.V.Lakshmipathi Street

For a 1,000 sq.ft plot at the current guideline value of Rs 830 per sq.ft, the total guideline value amounts to Rs 8,30,000. The stamp duty at 7% would be Rs 58,100, and the registration fee at 2% would be Rs 16,600, bringing the total fees together to Rs 74,700. 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 T.V.Lakshmipathi Street?

The Sub Registrar Office that covers T.V.Lakshmipathi Street is the Tambaram Joint 1 Sub Registrar Office, located at No.26, mes Road, East Tambaram, Chennai-600059, 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 Agaramthen

The guideline value is a crucial factor in property transactions in Agaramthen, as it determines the minimum value on which stamp duty and registration fees are calculated. Buyers and sellers must be aware of the current guideline value to ensure compliance with local regulations during the registration process.

When a property is sold, the guideline value is used to assess the transaction's value for taxation purposes. It is essential for both parties to understand that the guideline value may differ from the actual sale price, as the duty is charged on the higher of the two values.

Frequently asked questions

What is the current guideline value for T.V.Lakshmipathi Street?

The current guideline value for T.V.Lakshmipathi Street is Rs 830 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 750 per sq.ft in 2012 to Rs 502 per sq.ft in 2017, then back to Rs 750 per sq.ft in 2023, and finally to Rs 830 per sq.ft in 2024.

What is the land classification of T.V.Lakshmipathi Street?

T.V.Lakshmipathi Street is classified as Residential Class I Type - II.

What are the stamp duty and registration fees for property transactions?

The stamp duty is charged at 7%, and the registration fee is 2% of the guideline value or the sale price, whichever is higher.

Where can I find the Sub Registrar Office for T.V.Lakshmipathi Street?

The Sub Registrar Office for T.V.Lakshmipathi Street is the Tambaram Joint 1 Sub Registrar Office, located at No.26, mes Road, East Tambaram, Chennai-600059.