Guideline Value for L.I.C.NAGAR

L.I.C.Nagar guideline value

The current guideline value of L.I.C.Nagar is Rs 750 per sq.ft, effective from 1 July 2024. This area is located in Thiruninravur-A village under the Avadi SRO and is classified as Residential Class II Type - III.

How the guideline value of L.I.C.Nagar has changed

The guideline value for L.I.C.Nagar has seen several revisions over the years. In 2017, the value was Rs 469 per sq.ft, which increased to Rs 700 per sq.ft in 2023. The latest revision in 2024 set the guideline value at Rs 750 per sq.ft, marking a 7% increase from the previous year. Overall, from 2017 to 2024, the guideline value has risen by 60%.

There are no figures available for the years 2002, 2003, 2007, and 2012 in the register for this street. The increase from 2017 to 2023 was significant at 49%.

Guideline values in Thiruninravur-A

In Thiruninravur-A, there are 382 streets under the Avadi SRO that carry a 2024 guideline value ranging from Rs 440 to Rs 2,750 per sq.ft. The median value for these streets is Rs 750 per sq.ft, making L.I.C.Nagar's guideline value equal to this median.

• Lingam Bharma: Rs 840 per sq.ft (2024)
• Lalithanjali Nagar: Rs 1,200 per sq.ft (2024)
• Lalitha Avenue: Rs 550 per sq.ft (2024)
• Lakshmipuram & Streets: Rs 840 per sq.ft (2024)
• Lakshmipuram 9th Main St: Rs 840 per sq.ft (2024)
• Lakshmipuram 9th Cross St: Rs 840 per sq.ft (2024)

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

For a 1,000 sq.ft plot at the current guideline value of Rs 750 per sq.ft, the total guideline value would be Rs 7,50,000. The stamp duty at 7% would amount to Rs 52,500, and the registration fee at 2% would be Rs 15,000, totaling Rs 67,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more detailed calculations, you can use our stamp duty and registration fee calculator.

Which Sub Registrar Office covers L.I.C.Nagar?

The Sub Registrar Office that covers L.I.C.Nagar is the Avadi Sub Registrar Office, located at Plot No.145, Vii Street, Modern City, Thandurai Village, Avadi Taluk, Tiruvallur District, Chennai registration zone.

You can find your SRO for more information.

How the guideline value is used when you buy or sell in Thiruninravur-A

The guideline value plays a crucial role during the registration of property transactions in Thiruninravur-A. It is used to determine the stamp duty and registration fees that need to be paid, ensuring that all transactions are legally compliant.

When buying or selling property, the guideline value serves as a benchmark for the transaction, and the fees are calculated based on this value or the sale price, whichever is higher. This ensures transparency and uniformity in property dealings.

Frequently asked questions

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

The current guideline value of L.I.C.Nagar is Rs 750 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

Since 2017, the guideline value has increased from Rs 469 per sq.ft to Rs 750 per sq.ft in 2024, marking an overall increase of 60%.

What are the stamp duty and registration fees for property in L.I.C.Nagar?

The stamp duty is 7% of the guideline value, and the registration fee is 2%. For a 1,000 sq.ft plot, the total fees would amount to Rs 67,500.

Which office handles registrations for L.I.C.Nagar?

The Avadi Sub Registrar Office handles registrations for L.I.C.Nagar, located at Plot No.145, Vii Street, Modern City, Thandurai Village, Avadi Taluk, Tiruvallur District, Chennai.

What is the significance of the guideline value?

The guideline value is used to determine the stamp duty and registration fees during property transactions. It ensures that the fees are based on a standardized value, providing clarity and uniformity in the registration process.