Guideline Value for V.R LAKSHMI AVENUE

V.R Lakshmi Avenue guideline value

The current guideline value of V.R Lakshmi Avenue is Rs 2,700 per sq.ft, effective from 1 July 2024. This street is located in Chembarambakkam village, under the Poonamallee SRO, and is classified as Mixed Type - III land.

How the guideline value of V.R Lakshmi Avenue has changed

The guideline value for V.R Lakshmi Avenue has undergone several revisions over the years. The most recent revision in 2024 set the value at Rs 2,700 per sq.ft, which is a slight increase from Rs 2,690 per sq.ft in 2023. Before that, in 2017, the value was Rs 1,800 per sq.ft, marking a significant increase of 49% from 2017 to 2023, and an overall increase of 50% from 2017 to 2024.

It is important to note that there are no figures available for the years 2002, 2003, 2007, and 2012 in the register for this street. This lack of data highlights the changes that have occurred in the guideline value over the years, particularly between the last three revisions.

Guideline values in Chembarambakkam

Chembarambakkam has a total of 64 streets under the Poonamallee SRO that carry a 2024 guideline value ranging from Rs 550 to Rs 4,000 per sq.ft. The median value for these streets is Rs 1,100 per sq.ft, placing V.R Lakshmi Avenue's 2024 figure above that median.

• V M E Flats: Rs 1,100 per sq.ft (2024)
• Yamuna Nagar: Rs 550 per sq.ft (2024)
• Vishu Nagar: Rs 1,100 per sq.ft (2024)
• Vijaylakshmi Nagar I & II: Rs 1,100 per sq.ft (2024)
• Thilakar Street: Rs 878 per sq.ft (2024)
• Thilagar Street 97/4c,4i,4j,5,6,7,8,9,10: Rs 878 per sq.ft (2024)

Stamp duty and registration fee for property in V.R Lakshmi Avenue

For a 1,000 sq.ft plot at the current guideline value of Rs 2,700 per sq.ft, the total guideline value would be Rs 27,00,000. The stamp duty at 7% would amount to Rs 1,89,000, and the registration fee at 2% would be Rs 54,000, bringing the total fees to Rs 2,43,000. It is important to note that the 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 V.R Lakshmi Avenue?

The Sub Registrar Office that covers V.R Lakshmi Avenue is the Poonamallee Sub Registrar Office, located at No.332 U + 9cc Malma Nagar Poonallee Chennai - 600056. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Chembarambakkam. It serves as a benchmark for determining the stamp duty and registration fees that are applicable during the transaction.

When a property is sold, the guideline value is used to ensure that the transaction is recorded at a fair value, reflecting the current market conditions. This helps maintain transparency and accountability in property transactions.

Frequently asked questions

What is the current guideline value of V.R Lakshmi Avenue?

The current guideline value of V.R Lakshmi Avenue is Rs 2,700 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

Since 2017, the guideline value has increased from Rs 1,800 per sq.ft to Rs 2,700 per sq.ft in 2024, marking a total increase of 50% over this period.

What are the stamp duty and registration fees for property in V.R Lakshmi Avenue?

The stamp duty is charged at 7% and the registration fee at 2% of the guideline value or sale price, whichever is higher. For a 1,000 sq.ft plot, the total fees would amount to Rs 2,43,000.

Which office handles property registrations for V.R Lakshmi Avenue?

The Poonamallee Sub Registrar Office handles property registrations for V.R Lakshmi Avenue, located at No.332 U + 9cc Malma Nagar Poonallee Chennai - 600056.

What is the land classification for V.R Lakshmi Avenue?

The land classification for V.R Lakshmi Avenue is Mixed Type - III, indicating its diverse usage potential.