Guideline Value for L.I.C. NAGAR 4TH STREET

L.I.C. Nagar 4th Street guideline value

The current guideline value of L.I.C. Nagar 4th Street is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Pallikaranai 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.I.C. Nagar 4th Street has changed

The guideline value for L.I.C. Nagar 4th Street has seen a significant change from the 2012 revision to the 2024 revision. In 2012, the guideline value was Rs 2,000 per sq.ft. With the 2024 revision, it increased by 10% to Rs 2,200 per sq.ft.

There are no figures available for the revisions in the years 2023, 2017, 2007, 2003, and 2002 for this street. Therefore, only the figures from the 2012 and 2024 revisions are relevant for understanding the changes in the guideline value.

Guideline values in Pallikaranai

Pallikaranai village has a total of 749 streets under the Chennai South Joint I SRO, with guideline values ranging from Rs 1,110 to Rs 8,580 per sq.ft as per the 2024 revision. The median guideline value in this area is Rs 1,650 per sq.ft, making the 2024 figure for L.I.C. Nagar 4th Street above the median.

• L.I.C.Nagar 5th Street: Rs 2,200 per sq.ft (2024)
• L.I.C. Nagar /All Street /Main Roads /Cross Street: Rs 2,200 per sq.ft (2024)
• L.I.C.Nagar 3rd Main Road: Rs 2,200 per sq.ft (2024)
• L.I.C.Nagar Main Road: Rs 2,200 per sq.ft (2024)
• L.I.C. Nagar 2nd Street: Rs 2,200 per sq.ft (2024)
• L.I.C.Colony Ist Street: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in L.I.C. Nagar 4th Street

For a property size of 1,000 sq.ft at the current guideline value of Rs 2,200 per sq.ft, the total guideline value amounts to Rs 22,00,000. The stamp duty at 7% would be Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, bringing the total to Rs 1,98,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers L.I.C. Nagar 4th Street?

The Sub Registrar Office that covers L.I.C. Nagar 4th 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 details.

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

The guideline value is a critical factor in the registration process when buying or selling property in Pallikaranai. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is sold, the guideline value is used to ensure that the transaction is recorded accurately, reflecting the value of the property as per the official records. This helps in maintaining transparency and consistency in property transactions.

Frequently asked questions

What is the current guideline value of L.I.C. Nagar 4th Street?

The current guideline value of L.I.C. Nagar 4th Street is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value increased from Rs 2,000 per sq.ft in 2012 to Rs 2,200 per sq.ft in 2024, representing a 10% increase. There are no figures available for the years 2023, 2017, 2007, 2003, and 2002 for this street.

What is the median guideline value in Pallikaranai?

The median guideline value in Pallikaranai is Rs 1,650 per sq.ft. The guideline value for L.I.C. Nagar 4th Street is above this median.

What are the stamp duty and registration fees for properties in L.I.C. Nagar 4th Street?

For a property of 1,000 sq.ft, the total guideline value is Rs 22,00,000. The stamp duty would be Rs 1,54,000 and the registration fee would be Rs 44,000, totaling Rs 1,98,000.

Which office handles registrations for L.I.C. Nagar 4th Street?

The Chennai South Joint I Sub Registrar Office is responsible for handling registrations for L.I.C. Nagar 4th Street. It is located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, fanepet Nandanam, Chennai -600 035.