Guideline Value for L.M.J Garden

L.M.J Garden guideline value

The current guideline value of L.M.J Garden in Perungalathur village under the Padappai SRO is Rs 2,310 per sq.ft, effective from 1 July 2024. This area is classified as Residential Class II Type - I.

How the guideline value of L.M.J Garden has changed

The guideline value of L.M.J Garden has seen several revisions over the years. In the 2012 revision, the value was set at Rs 2,100 per sq.ft. This figure then decreased to Rs 1,407 per sq.ft in the 2017 revision, marking a decline of 33%. However, from 2017 to 2023, the value increased significantly by 49%, reaching Rs 2,100 per sq.ft. The latest revision in 2024 has set the guideline value at Rs 2,310 per sq.ft, reflecting a 10% increase from the previous year.

It is important to note that the register has no figures for L.M.J Garden for the years 2002, 2003, and 2007. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Perungalathur

In Perungalathur, there are 411 streets under the Padappai SRO, with guideline values ranging from Rs 1,320 to Rs 5,500 per sq.ft. The median value for these streets is Rs 2,310 per sq.ft, which is equal to the current guideline value of L.M.J Garden.

• Lingam Nagar-II: Rs 1,980 per sq.ft (2024)
• Lingam Nagar-I: Rs 1,980 per sq.ft (2024)
• Lime Light Avenue Phase II: Rs 2,640 per sq.ft (2024)
• Lime Light Avenue: Rs 2,310 per sq.ft (2024)
• Madan Street: Rs 1,650 per sq.ft (2024)
• Laxmi Nagar: Rs 2,310 per sq.ft (2024)

Stamp duty and registration fee for property in L.M.J Garden

For a 1,000 sq.ft plot at the current guideline value of Rs 2,310 per sq.ft, the total guideline value would be Rs 23,10,000. The stamp duty at 7% would amount to Rs 1,61,700, and the registration fee at 2% would be Rs 46,200, making the total cost for these fees Rs 2,07,900. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can also use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers L.M.J Garden?

The L.M.J Garden area is covered by the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is crucial when registering property transactions in Perungalathur. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is recorded accurately in the official records.

When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees. These fees are essential for the legal transfer of property ownership and are based on the higher of the guideline value or the sale price.

Frequently asked questions

What is the current guideline value of L.M.J Garden?

The current guideline value of L.M.J Garden is Rs 2,310 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,100 per sq.ft in 2012 to Rs 1,407 per sq.ft in 2017, then back to Rs 2,100 per sq.ft in 2023, and finally to Rs 2,310 per sq.ft in 2024.

What are the stamp duty and registration fees for properties in L.M.J Garden?

For a property valued at Rs 23,10,000, the stamp duty would be Rs 1,61,700 and the registration fee would be Rs 46,200, totaling Rs 2,07,900.

Which office handles property registrations in L.M.J Garden?

The Padappai Sub Registrar Office handles property registrations in L.M.J Garden, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone.

How is the guideline value determined for properties?

The guideline value is determined by the Registration Department and is based on various factors, including the location and type of property. It serves as a minimum value for property transactions in the area.