Guideline Value for lakshmipuram

Lakshmipuram guideline value

The current guideline value of Lakshmipuram, located in Poonthamallee village under the Poonamallee SRO, is Rs 3,250 per sq.ft, effective from 1 July 2024. The land classification for this area is Commercial Class I Type - II.

How the guideline value of Lakshmipuram has changed

Over the years, the guideline value for Lakshmipuram has seen significant changes. The earliest recorded figure is from 2007, where the guideline value was Rs 300 per sq.ft. This increased dramatically to Rs 3,000 per sq.ft in 2012, marking a rise of 900%. However, by 2017, it decreased to Rs 2,010 per sq.ft, a drop of 33%. The value then rose again to Rs 3,000 per sq.ft in 2023, followed by an increase to Rs 3,250 per sq.ft in 2024, which is an 8% increase from the previous year.

From 2017 to 2023, the guideline value increased by 49%. Overall, from 2007 to 2024, the guideline value has risen by 983%. It is important to note that there are no recorded figures for the years 2002 and 2003 for this street.

Guideline values in Poonthamallee

In Poonthamallee, there are 257 streets under the Poonamallee SRO that carry a 2024 guideline value, ranging from Rs 1,980 to Rs 4,950 per sq.ft. The median value is Rs 2,200 per sq.ft, placing Lakshmipuram's 2024 figure above this median.

• Lakshmi nagar 567,566,643,967: Rs 1,980 per sq.ft (2024)
• Lakshmi nagar 447: Rs 1,980 per sq.ft (2024)
• Lakshmi Nagar: Rs 2,200 per sq.ft (2024)
• Maaran nagar: Rs 2,200 per sq.ft (2024)
• Kundrathoor Road Door No 1st To 19: Rs 2,740 per sq.ft (2024)
• Kundrathoor Road 24 To 130: Rs 2,740 per sq.ft (2024)

Stamp duty and registration fee for property in Lakshmipuram

For a 1,000 sq.ft plot at the current guideline value of Rs 3,250 per sq.ft, the total guideline value amounts to Rs 32,50,000. The stamp duty at 7% would be Rs 2,27,500, and the registration fee at 2% would be Rs 65,000, bringing the total to Rs 2,92,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can also use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Lakshmipuram?

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

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

The guideline value plays a crucial role in the registration process when buying or selling property in Poonthamallee. It is used to determine the stamp duty and registration fees that need to be paid during the transaction.

When a property is registered, the guideline value is considered to ascertain the applicable charges, ensuring that the transaction is compliant with local regulations. Buyers and sellers should be aware of the current guideline value to avoid any discrepancies during registration.

Frequently asked questions

What is the current guideline value of Lakshmipuram?

The current guideline value of Lakshmipuram is Rs 3,250 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 300 per sq.ft in 2007 to Rs 3,250 per sq.ft in 2024, showing an overall increase of 983% over the years.

What is the land classification for Lakshmipuram?

The land classification for Lakshmipuram is Commercial Class I Type - II.

What other streets have guideline values in Poonthamallee?

Other streets in Poonthamallee include Lakshmi nagar 567,566,643,967 at Rs 1,980 per sq.ft, Lakshmi nagar 447 at Rs 1,980 per sq.ft, and others with varying rates.

How is the stamp duty calculated for properties in Lakshmipuram?

The stamp duty for properties in Lakshmipuram is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot would incur a stamp duty of Rs 2,27,500 based on the current guideline value.