Guideline Value for L.I.C Colony Kothandapani Street

L.I.C Colony Kothandapani Street guideline value

The current guideline value of L.I.C Colony Kothandapani Street is Rs 2,530 per sq.ft, effective from 1 July 2024. This street is located in Anakaputhur village under the Pammal SRO, classified as Commercial Class I Type - II.

How the guideline value of L.I.C Colony Kothandapani Street has changed

In the 2017 revision, the guideline value was recorded at Rs 1,541 per sq.ft. This figure saw a significant increase to Rs 2,300 per sq.ft in the 2023 revision, marking a 49% rise. The current 2024 revision reflects a further increase to Rs 2,530 per sq.ft, which is a 10% rise from the previous year.

Overall, from the 2017 revision to the 2024 revision, the guideline value has increased by 64%. It is important to note that the register has no figures for L.I.C Colony Kothandapani Street for the years 2002, 2003, 2007, and 2012.

Guideline values in Anakaputhur

In Anakaputhur, there are 501 streets under the Pammal SRO that carry a 2024 guideline value, ranging from Rs 1,320 to Rs 4,640 per sq.ft. The median guideline value for these streets is Rs 1,980 per sq.ft, placing L.I.C Colony Kothandapani Street's 2024 figure above this median.

• L.I.C Colony Meelamegam Street: Rs 2,530 per sq.ft (2024)
• LIC Colony 7th Street: Rs 2,530 per sq.ft (2024)
• LIC Colony 6th Street: Rs 2,530 per sq.ft (2024)
• LIC Colony 5th Street: Rs 2,530 per sq.ft (2024)
• LIC Colony 4th Street: Rs 2,530 per sq.ft (2024)
• LIC Colony 3rd Street: Rs 2,530 per sq.ft (2024)

Stamp duty and registration fee for property in L.I.C Colony Kothandapani Street

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

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

Which Sub Registrar Office covers L.I.C Colony Kothandapani Street?

The L.I.C Colony Kothandapani Street falls under the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a critical factor in the registration process of property transactions in Anakaputhur. It serves as 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 used to calculate the applicable stamp duty and registration fees. The fees are based on the higher of the guideline value or the actual sale price, which ensures that the government collects revenue based on the true value of the property being transferred.

Frequently asked questions

What is the current guideline value of L.I.C Colony Kothandapani Street?

The current guideline value of L.I.C Colony Kothandapani Street is Rs 2,530 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

Since the 2017 revision, the guideline value has increased from Rs 1,541 per sq.ft to Rs 2,530 per sq.ft in 2024, representing an overall increase of 64% over this period.

What is the land classification for L.I.C Colony Kothandapani Street?

L.I.C Colony Kothandapani Street is classified as Commercial Class I Type - II, which indicates its suitability for commercial activities.

Where can I find the Pammal Sub Registrar Office?

The Pammal Sub Registrar Office is located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, in the Chengalpattu registration zone.

How is the stamp duty calculated for a property in L.I.C Colony Kothandapani Street?

The stamp duty for a property in L.I.C Colony Kothandapani Street is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot, the stamp duty would be Rs 1,77,100 based on the current guideline value.