Guideline Value for L.I.C.NAGAR

L.I.C.Nagar guideline value

The current guideline value of L.I.C.Nagar is Rs 770 per sq.ft, effective from 1 July 2024. This area is located in Thiruninravur-B village and falls under the Avadi SRO. The land classification for this street is 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 significant changes over the years. In the 2017 revision, the value was Rs 469 per sq.ft. This increased to Rs 700 per sq.ft in the 2023 revision, marking a 49% rise. The most recent revision in 2024 set the value at Rs 770 per sq.ft, which is a 10% increase 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 the years 2002, 2003, 2007, and 2012 for this street.

Guideline values in Thiruninravur-B

In Thiruninravur-B, there are 374 streets under the Avadi SRO that carry a 2024 guideline value ranging from Rs 330 to Rs 1,760 per sq.ft. The median value is Rs 770 per sq.ft, which is the same as the current guideline value for L.I.C.Nagar. Below are the guideline values for other streets in Thiruninravur-B:

• Lingam Bharma: Rs 870 per sq.ft (2024)
• Lalithanjali Nagar: Rs 1,190 per sq.ft (2024)
• Lakshmipuram & Streets: Rs 870 per sq.ft (2024)
• Lakshmipuram 9th Main St: Rs 870 per sq.ft (2024)
• Lakshmipuram 9th Cross St: Rs 870 per sq.ft (2024)
• Lakshmipuram 8th Main St: Rs 870 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 770 per sq.ft, the total guideline value amounts to Rs 7,70,000. The stamp duty at 7% would be Rs 53,900, while the registration fee at 2% would be Rs 15,400. Together, these fees total Rs 69,300. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For further calculations, you can use the 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. The address is 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-B

The guideline value plays a crucial role during the registration of property transactions in Thiruninravur-B. It is used to determine the stamp duty and registration fees that must be paid when a property is bought or sold. Buyers and sellers must consider this value to ensure compliance with local regulations.

When a property is registered, the guideline value is assessed to calculate the applicable fees. This ensures that the transaction is officially recorded and that the government receives the necessary revenue from property sales.

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 770 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 469 per sq.ft in 2017 to Rs 700 per sq.ft in 2023, and then to Rs 770 per sq.ft in 2024. The overall increase from 2017 to 2024 is 64%.

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

For a 1,000 sq.ft plot, the total guideline value is Rs 7,70,000. The stamp duty is Rs 53,900 and the registration fee is Rs 15,400, totaling Rs 69,300.

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

The Avadi Sub Registrar Office handles registrations for L.I.C.Nagar. Its address is Plot No.145, Vii Street, Modern City, Thandurai Village, Avadi Taluk, Tiruvallur District, Chennai registration zone.

How is the guideline value determined for properties in Thiruninravur-B?

The guideline value for properties in Thiruninravur-B is determined based on various revisions by the Registration Department. It reflects the value per sq.ft for different streets and is used to calculate stamp duty and registration fees during property transactions.