Guideline Value for Telephone Colony (Lakshmipuram)

Telephone Colony (Lakshmipuram) guideline value

The current guideline value of Telephone Colony (Lakshmipuram) is Rs 1,600 per sq.ft, effective from 1 July 2024. This area is located in Madhavaram village, under the Madhavaram SRO, and is classified as Residential Class II Type - I.

How the guideline value of Telephone Colony (Lakshmipuram) has changed

Looking at the revisions, the guideline value for this street was Rs 1,500 per sq.ft in the 2012 revision. It remained unchanged in the 2023 revision, but saw an increase to Rs 1,600 per sq.ft in the 2024 revision, marking a 7% increase from the previous year. The register does not contain figures for the years 2002, 2003, 2007, and 2017 for this street.

Overall, from the 2012 revision to the 2024 revision, there has been a total increase of 7%. The 2024 figure aligns with the median guideline value of Rs 1,600 per sq.ft for the 1,946 streets in Madhavaram under the Madhavaram SRO.

Guideline values in Madhavaram

The guideline values in Madhavaram village range from Rs 1,300 to Rs 7,500 per sq.ft, with a median value of Rs 1,600 per sq.ft. Telephone Colony (Lakshmipuram) holds a guideline value that matches this median.

• Telephone Colony South ( Ward No.8 ): Rs 1,600 per sq.ft (2024)
• Telephone Colony 4th st ( Ward No.8 ): Rs 1,600 per sq.ft (2024)
• Telephone Colony 3rd st ( Ward No.8 ): Rs 1,600 per sq.ft (2024)
• Telephone Colony (Ward-08): Rs 1,600 per sq.ft (2024)
• Telephone Colony 2nd st ( Ward No.8 ): Rs 1,600 per sq.ft (2024)
• Telephone Colony 1st st ( Ward No.8 ): Rs 1,600 per sq.ft (2024)

Stamp duty and registration fee for property in Telephone Colony (Lakshmipuram)

For a 1,000 sq.ft plot at the current guideline value of Rs 1,600 per sq.ft, the total guideline value would be Rs 16,00,000. The stamp duty at 7% would amount to Rs 1,12,000, and the registration fee at 2% would be Rs 32,000, making the total charges Rs 1,44,000. It is important to note that duty is charged on the guideline value or the sale price, whichever is higher. You can also use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Telephone Colony (Lakshmipuram)?

The Madhavaram Sub Registrar Office covers Telephone Colony (Lakshmipuram) and is located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find your SRO for more information.

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

The guideline value is utilized during the registration process of property transactions in Madhavaram. It serves as a benchmark for determining the amount of stamp duty and registration fees applicable to the property being sold or purchased.

When buying or selling property, it is essential to refer to the guideline value to understand the financial implications of the transaction. This value ensures that the appropriate fees are calculated based on the prevailing rates set by the registration department.

Frequently asked questions

What is the current guideline value of Telephone Colony (Lakshmipuram)?

The current guideline value of Telephone Colony (Lakshmipuram) is Rs 1,600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value increased from Rs 1,500 per sq.ft in 2012 to Rs 1,600 per sq.ft in 2024, marking a total increase of 7% over this period.

What are the guideline values of other streets in Madhavaram?

Other streets in Madhavaram have a guideline value of Rs 1,600 per sq.ft for 2024, including Telephone Colony South, Telephone Colony 4th st, Telephone Colony 3rd st, Telephone Colony (Ward-08), Telephone Colony 2nd st, and Telephone Colony 1st st.

What fees are associated with property transactions in Telephone Colony (Lakshmipuram)?

For a property in Telephone Colony (Lakshmipuram), the total stamp duty and registration fees can amount to Rs 1,44,000 for a 1,000 sq.ft plot at the current guideline value.

Where is the Sub Registrar Office for Telephone Colony (Lakshmipuram)?

The Madhavaram Sub Registrar Office is located at No.7, Roja Nagar, Madhavaram, Chennai-600060, and it covers Telephone Colony (Lakshmipuram).