Guideline Value for Visalakshi 4th Cross Street (Lakshmi amman Nagar)

Visalakshi 4th Cross Street (Lakshmi amman Nagar) guideline value

The current guideline value of Visalakshi 4th Cross Street (Lakshmi amman Nagar) is Rs 2,500 per sq.ft, effective from 1 July 2024. This street is located in Erukancherry village under the Madhavaram SRO, classified as Residential Class III Type - I.

How the guideline value of Visalakshi 4th Cross Street (Lakshmi amman Nagar) has changed

The guideline value for Visalakshi 4th Cross Street has undergone several revisions over the years. In the 2012 revision, the value was Rs 2,300 per sq.ft, which decreased to Rs 1,541 per sq.ft in 2017. Following this, the value increased significantly to Rs 2,300 per sq.ft in 2023, before reaching the current value of Rs 2,500 per sq.ft in 2024. The register has no figures for the years 2002, 2003, and 2007.

From 2012 to 2017, there was a decrease of 33%. However, from 2017 to 2023, the value increased by 49%. The change from 2023 to 2024 reflects a 9% increase. Overall, from 2012 to 2024, the guideline value has increased by 9%.

Guideline values in Erukancherry

In Erukancherry, there are 376 streets under the Madhavaram SRO that carry a 2024 guideline value ranging from Rs 1,900 to Rs 3,800 per sq.ft, with a median of Rs 2,500 per sq.ft. The guideline value of Visalakshi 4th Cross Street is equal to this median.

• Visalakshi 3rd Cross Street (Lakshmi amman Nagar): Rs 2,500 per sq.ft (2024)
• Visalakshi 5th Cross Street (Lakshmi amman Nagar): Rs 2,500 per sq.ft (2024)
• Visalakshi 2nd Cross Street (Lakshmi amman Nagar): Rs 2,500 per sq.ft (2024)
• Visalakshi 1st Cross Street (M.R. Nagar): Rs 2,500 per sq.ft (2024)
• Visalakshi 1st Cross Street (Lakshmi amman Nagar): Rs 2,500 per sq.ft (2024)
• Visalakshi Street: Rs 2,700 per sq.ft (2024)

Stamp duty and registration fee for property in Visalakshi 4th Cross Street (Lakshmi amman Nagar)

For a 1,000 sq.ft plot at the current guideline value of Rs 2,500 per sq.ft, the total guideline value would be Rs 25,00,000. The stamp duty at 7% would amount to Rs 1,75,000, and the registration fee at 2% would be Rs 50,000, totaling Rs 2,25,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

For further assistance, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Visalakshi 4th Cross Street (Lakshmi amman Nagar)?

The Sub Registrar Office that covers Visalakshi 4th Cross Street (Lakshmi amman Nagar) is the Madhavaram Sub Registrar Office, 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 Erukancherry

The guideline value is an important factor in the registration process when buying or selling property in Erukancherry. It serves as a benchmark for determining the value of the property and calculating the applicable stamp duty and registration fees.

When completing a property transaction, it is essential to refer to the guideline value to ensure compliance with local regulations and to understand the financial obligations involved in the registration process.

Frequently asked questions

What is the current guideline value of Visalakshi 4th Cross Street?

The current guideline value of Visalakshi 4th Cross Street (Lakshmi amman Nagar) is Rs 2,500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Over the years, the guideline value has seen various changes. It was Rs 2,300 per sq.ft in 2012, decreased to Rs 1,541 per sq.ft in 2017, increased to Rs 2,300 per sq.ft in 2023, and is now Rs 2,500 per sq.ft in 2024.

What are the stamp duty and registration fees for properties here?

For a property valued at Rs 25,00,000, the stamp duty would be Rs 1,75,000 and the registration fee would be Rs 50,000, totaling Rs 2,25,000. The duty is charged on the higher of the guideline value or the sale price.

Which office handles registrations in this area?

The Madhavaram Sub Registrar Office handles registrations for Visalakshi 4th Cross Street (Lakshmi amman Nagar). The office is located at No.7, Roja Nagar, Madhavaram, Chennai-600060.

What is the land classification for this street?

Visalakshi 4th Cross Street (Lakshmi amman Nagar) is classified as Residential Class III Type - I, indicating its suitability for residential purposes.