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The source localization algorithms in the earlier works, mostly used non-planar arrays. If we consider scenarios like human-computer communication, or human-television communication where the microphones need to be placed on the computer monitor or television front panel, i.e we need to use the planar arrays. The algorithm proposed in 1], is a Linear Closed Form source localization algorithm (LCF algorithm) which is based on Time Difference of Arrivals (TDOAs) that are obtained from the data collected using the microphones. It assumes non-planar arrays. The LCF algorithm is applied to planar arrays in the current work. The relationship between the error in the source location estimate and the perturbation in the TDOAs is derived using first order perturbation analysis and validated using simulations. If the TDOAs are erroneous, both the coefficient matrix and the data matrix used for obtaining source location will be perturbed. So, the Total least squares solution for source localization is proposed in the current work. The sensitivity analysis of the source localization algorithm for planar arrays and non-planar arrays is done by introducing perturbation in the TDOAs and the microphone locations. It is shown that the error in the source location estimate is less when we use planar array instead of the particular non-planar array considered for same perturbation in the TDOAs or microphone location. The location of the reference microphone is proved to be important for getting an accurate source location estimate if we are using the LCF algorithm.