Guideline Value for L.I.C.COLONY 5TH CROSS STREET

L.I.C.Colony 5th Cross Street guideline value

The current guideline value of L.I.C.Colony 5th Cross Street is Rs 9,900 per sq.ft, effective from 1 July 2024. This street is located in Thiruvanmiyur village and falls under the Chennai South Joint I SRO. The land classification for this area is Residential Class I Type - I.

How the guideline value of L.I.C.Colony 5th Cross Street has changed

The guideline value for L.I.C.Colony 5th Cross Street has undergone several revisions over the years. The earliest recorded figure is from 2012, where the value was Rs 9,000 per sq.ft. This was followed by a decrease to Rs 6,030 per sq.ft in 2017. Subsequently, the value increased to Rs 9,000 per sq.ft in 2023, and currently stands at Rs 9,900 per sq.ft from the 2024 revision. The changes between these revisions include a 33% decrease from 2012 to 2017, a 49% increase from 2017 to 2023, and a 10% increase from 2023 to 2024.

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

Guideline values in Thiruvanmiyur

In Thiruvanmiyur, there are 484 streets under the Chennai South Joint I SRO that carry a 2024 guideline value, ranging from Rs 3,520 to Rs 12,660 per sq.ft. The median guideline value is Rs 9,900 per sq.ft, which is equal to the current value of L.I.C.Colony 5th Cross Street.

• L.I.C.Colony 4th Cross Street: Rs 9,900 per sq.ft (2024)
• L.I.C.Colony Extension: Rs 9,900 per sq.ft (2024)
• L.I.C.Colony 3rd Cross Street: Rs 9,900 per sq.ft (2024)
• L.I.C.Colony 2nd Cross Street: Rs 9,900 per sq.ft (2024)
• L.I.C.Colony 1st Cross Street: Rs 9,900 per sq.ft (2024)
• L.I.C. Colony: Rs 9,900 per sq.ft (2024)

Stamp duty and registration fee for property in L.I.C.Colony 5th Cross Street

For a 1,000 sq.ft plot at the current guideline value of Rs 9,900 per sq.ft, the total guideline value would be Rs 99,00,000. The stamp duty at 7% would amount to Rs 6,93,000, and the registration fee at 2% would be Rs 1,98,000, bringing the total to Rs 8,91,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers L.I.C.Colony 5th Cross Street?

The Sub Registrar Office that covers L.I.C.Colony 5th 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, Chennai registration zone. You can find your SRO for more details.

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

The guideline value is a crucial factor when buying or selling property in Thiruvanmiyur. It serves as a reference point for determining the stamp duty and registration fees applicable during the transaction. Buyers and sellers must be aware that the guideline value can influence the overall cost of the property transaction.

When registering a property, the guideline value is considered to ensure that the transaction is compliant with local regulations. This helps in maintaining transparency and standardization in property dealings within the region.

Frequently asked questions

What is the current guideline value of L.I.C.Colony 5th Cross Street?

The current guideline value of L.I.C.Colony 5th Cross Street is Rs 9,900 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 9,000 per sq.ft in 2012 to Rs 6,030 per sq.ft in 2017, then to Rs 9,000 per sq.ft in 2023, and currently stands at Rs 9,900 per sq.ft in 2024.

What is the land classification for L.I.C.Colony 5th Cross Street?

The land classification for L.I.C.Colony 5th Cross Street is Residential Class I Type - I.

Where can I find the Sub Registrar Office for L.I.C.Colony 5th Cross Street?

The Sub Registrar Office for L.I.C.Colony 5th 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.

How is stamp duty calculated for property in L.I.C.Colony 5th Cross Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a 1,000 sq.ft property at the current guideline value, the total stamp duty would amount to Rs 6,93,000 at a rate of 7%.