Guideline Value for L.K.S GARDEN

L.K.S Garden guideline value

The current guideline value of L.K.S Garden in Umaiyal Parancheri village is Rs 200 per sq.ft, effective from 1 July 2024. This property falls under the jurisdiction of the Sunguvarchattram SRO and is classified as Residential Class II Type - I.

How the guideline value of L.K.S Garden has changed

The guideline value for L.K.S Garden has undergone several revisions over the years. In 2007, the value was set at Rs 30 per sq.ft, which saw a significant increase to Rs 200 per sq.ft in 2012, marking a rise of 567%. However, from 2012 to 2017, the value decreased to Rs 134 per sq.ft, reflecting a drop of 33%. The most recent revisions in 2023 and 2024 have maintained the guideline value at Rs 200 per sq.ft, indicating no change from the previous year.

In summary, the guideline value has seen an overall increase of 567% from 2007 to 2024. The revisions for the years 2002 and 2003 do not have figures available for this street.

Guideline values in Umaiyal Parancheri

In Umaiyal Parancheri, there are 18 streets under the Sunguvarchattram SRO that carry a 2024 guideline value ranging from Rs 175 to Rs 500 per sq.ft. The median value is Rs 200 per sq.ft, which is equal to the current guideline value for L.K.S Garden.

• Mariamman Kovil Street( Kulakkarai Street): Rs 175 per sq.ft (2024)
• Kanniamman Kovil Street: Rs 175 per sq.ft (2024)
• M.R.Rajamani Nagar: Rs 200 per sq.ft (2024)
• MuthuKumaran Nagar: Rs 250 per sq.ft (2024)
• Issai Estate: Rs 250 per sq.ft (2024)
• Park City: Rs 500 per sq.ft (2024)

Stamp duty and registration fee for property in L.K.S Garden

For a 1,000 sq.ft plot at the current guideline value of Rs 200 per sq.ft, the total guideline value amounts to Rs 2,00,000. The stamp duty at 7% would be Rs 14,000, and the registration fee at 2% would be Rs 4,000, bringing the total cost for these fees to Rs 18,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers L.K.S Garden?

The Sub Registrar Office that covers L.K.S Garden is the Sunguvarchattram Sub Registrar Office, located at Vadivamal Nagar Kandigai Road, opposite Caparo Company, Sunguvarchatram, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role during the registration process of property transactions in Umaiyal Parancheri. It serves as a benchmark for determining the stamp duty and registration fees that must be paid when buying or selling property.

When a property is registered, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable fees. This ensures that the government receives the appropriate revenue from property transactions based on current market standards.

Frequently asked questions

What is the current guideline value for L.K.S Garden?

The current guideline value for L.K.S Garden is Rs 200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 30 per sq.ft in 2007 to Rs 200 per sq.ft in 2012, then decreased to Rs 134 per sq.ft in 2017, and has remained at Rs 200 per sq.ft from 2023 to 2024.

What are the stamp duty and registration fees for L.K.S Garden?

For a 1,000 sq.ft plot valued at Rs 200 per sq.ft, the total guideline value is Rs 2,00,000. The stamp duty would be Rs 14,000 and the registration fee would be Rs 4,000, totaling Rs 18,000.

Which office handles registrations for L.K.S Garden?

The Sunguvarchattram Sub Registrar Office handles registrations for L.K.S Garden, located at Vadivamal Nagar Kandigai Road, opposite Caparo Company.

What is the land classification for L.K.S Garden?

L.K.S Garden is classified as Residential Class II Type - I, indicating its suitability for residential purposes.