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Guideline Value

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Guideline Value for L & T COLONY 1ST CROSS STREET

₹2530/sq.ft.

The guideline value for L & T Colony 1st Cross Street in Manapakkam village (Chennai South Joint I SRO, Chennai zone) is Rs 2530 per sq.ft, effective 1 July 2024. It was Rs 2300 per sq.ft from 1 April 2023, a 10% change. The land classification is Residential Class Ii Type - I. Source: TNReginet guideline value register.

Last updated:

Chennai

Zone

Manapakkam

Village

Chennai South Joint I

SRO

Residential Class II Type - I
History
Period Guideline Value
From 1-7-2024 ₹2530 /sq.ft.
From 1-4-2023 ₹2300 /sq.ft.
From 9-6-2017 To 31-3-2023 ₹1541 /sq.ft.
From 1-4-2012 To 8-6-2017 ₹2300 /sq.ft.
From 1-8-2007 To 31-3-2012 N/A
From 1-4-2003 To 31-7-2007 N/A
From 1-4-2002 To 31-3-2003 N/A
Guideline Value Timeline
Guideline Value Comparison

SRO (Sub Registrar Office)

Integrated Building For Offices Of The Commerrcial Taxes And Registrations Department ,fanepet Nandanam ,chennai -600 035
044-29510536
[email protected]

DRO (District Registrar Office)

Integrated Building For Offices Of The Commercial Taxes And Registration Department, Fanepet, Nandhanam, Chennai - 35.
044-22505552
[email protected], [email protected]

DIG (Deputy Inspector General)

Integrated Building For Offices Of The Commercial Taxes And Registration, Department Fanepet, Nandanam, Chennai - 600 035.
044-29510527
[email protected]
Records for a plot on L & T Colony 1st Cross Street

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L & T Colony 1st Cross Street guideline value

The current guideline value of L & T Colony 1st Cross Street is Rs 2,530 per sq.ft, effective from 1 July 2024. This street is located in Manapakkam village and falls under the Chennai South Joint I SRO. The land classification for this area is Residential Class II Type - I.

How the guideline value of L & T Colony 1st Cross Street has changed

In the 2012 revision, the guideline value was set at Rs 2,300 per sq.ft. This figure saw a decrease of 33% by the 2017 revision, bringing it down to Rs 1,541 per sq.ft. However, from 2017 to 2023, there was a significant increase of 49%, raising the value to Rs 2,300 per sq.ft. The most recent revision in 2024 has further increased the guideline value to Rs 2,530 per sq.ft, marking a 10% rise from the previous year.

It is important to note that the register has no figures for the years 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Manapakkam

In Manapakkam, there are 368 streets under the Chennai South Joint I SRO, with guideline values ranging from Rs 1,100 to Rs 12,800 per sq.ft. The median guideline value is Rs 2,530 per sq.ft, which is equal to the current value of L & T Colony 1st Cross Street.

Stamp duty and registration fee for property in L & T Colony 1st Cross Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,530 per sq.ft, the total guideline value amounts to Rs 25,30,000. The stamp duty, calculated at 7%, would be Rs 1,77,100, and the registration fee at 2% would be Rs 50,600, totaling Rs 2,27,700. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

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

Which Sub Registrar Office covers L & T Colony 1st Cross Street?

The Sub Registrar Office covering L & T Colony 1st Cross Street is the Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035. You can find your SRO for more information.

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

The guideline value is a crucial factor when buying or selling property in Manapakkam, as it determines the minimum value at which property transactions can be registered. This value is used to calculate the stamp duty and registration fees, ensuring that the government receives the appropriate revenue from property transactions.

When registering a property, buyers must pay the stamp duty based on the guideline value or the sale price, whichever is higher. This ensures that the transaction is recorded accurately and complies with the legal requirements set forth by the registration department.

Frequently asked questions

What is the current guideline value of L & T Colony 1st Cross Street?

The current guideline value of L & T Colony 1st Cross Street is Rs 2,530 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,300 per sq.ft in 2012 to Rs 1,541 per sq.ft in 2017, then increased to Rs 2,300 per sq.ft in 2023, and finally to Rs 2,530 per sq.ft in 2024.

What is the land classification for this street?

The land classification for L & T Colony 1st Cross Street is Residential Class II Type - I.

What is the stamp duty rate for property transactions?

The stamp duty rate for property transactions in this area is 7%, based on the guideline value or the sale price, whichever is higher.

Where is the Sub Registrar Office located?

The Sub Registrar Office for L & T Colony 1st Cross Street is located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035.