Guideline Value for L.D.G.Road

L.D.G.Road guideline value

The current guideline value of L.D.G.Road in Venkatapuram village is Rs 5,500 per sq.ft, effective from 1 July 2024. This street falls under the Adayar SRO and is classified as Residential Class II Type - I.

How the guideline value of L.D.G.Road has changed

Since the 2002 revision, the guideline value for L.D.G.Road has seen several changes. In 2002, the value was Rs 1,105 per sq.ft, which increased to Rs 1,188 per sq.ft in 2003. Following this, the value rose significantly to Rs 2,250 per sq.ft in 2007, and then reached Rs 5,000 per sq.ft in 2012. However, it dropped to Rs 3,350 per sq.ft in 2017 before climbing to Rs 5,000 per sq.ft in 2023, and finally to Rs 5,500 per sq.ft in 2024.

The changes between revisions include a 8% increase from 2002 to 2003, a 89% increase from 2003 to 2007, a 122% increase from 2007 to 2012, a 33% decrease from 2012 to 2017, a 49% increase from 2017 to 2023, and a 10% increase from 2023 to 2024. Overall, from 2002 to 2024, the guideline value has increased by 398%.

Guideline values in Venkatapuram

In Venkatapuram, there are 36 streets under the Adayar SRO that carry a 2024 guideline value ranging from Rs 2,800 to Rs 15,400 per sq.ft. The median guideline value is Rs 5,500 per sq.ft, which matches the current value of L.D.G.Road.

• Kannigapuram: Rs 2,800 per sq.ft (2024)
• Inpeeriyar Koil Street: Rs 2,800 per sq.ft (2024)
• Raj Bhavan Road: Rs 15,400 per sq.ft (2024)
• Rangarasapuram 1st Street: Rs 4,400 per sq.ft (2024)
• Rangarasapuram 2nd Street: Rs 4,400 per sq.ft (2024)
• Rangarasapuram 3rd Street: Rs 4,400 per sq.ft (2024)

Stamp duty and registration fee for property in L.D.G.Road

For a 1,000 sq.ft plot at the current guideline value of Rs 5,500 per sq.ft, the total guideline value would be Rs 55,00,000. The stamp duty at 7% would amount to Rs 3,85,000, and the registration fee at 2% would be Rs 1,10,000, totaling Rs 4,95,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers L.D.G.Road?

The Sub Registrar Office that covers L.D.G.Road is the Adayar Sub Registrar Office, located at 51, Kamaraj Avenue, Second Street, Adyar, Chennai-20. You can find your SRO for more details.

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

The guideline value is a crucial factor when registering property in Venkatapuram. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, the guideline value is compared against the sale price. The higher of the two values is used to calculate the applicable stamp duty and registration fees, ensuring compliance with local regulations.

Frequently asked questions

What is the current guideline value of L.D.G.Road?

The current guideline value of L.D.G.Road is Rs 5,500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,105 per sq.ft in 2002 to Rs 5,500 per sq.ft in 2024, with various increases and decreases in between, including a significant increase of 10% from 2023 to 2024.

What is the classification of land on L.D.G.Road?

L.D.G.Road is classified as Residential Class II Type - I, indicating its suitability for residential development.

Where can I find the registration office for L.D.G.Road?

The registration office for L.D.G.Road is the Adayar Sub Registrar Office, located at 51, Kamaraj Avenue, Second Street, Adyar, Chennai-20.

How is the stamp duty calculated for properties on L.D.G.Road?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, a property valued at Rs 55,00,000 would incur a stamp duty of Rs 3,85,000 at 7%.