Guideline Value for L.S.S. Garden

L.S.S. Garden guideline value

The current guideline value of L.S.S. Garden in Thiruvancheri village is Rs 1,980 per sq.ft, effective from 1 July 2024. This property falls under the Pallavaram SRO and is classified as Residential Class I Type - I.

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

The guideline value for L.S.S. Garden has undergone several revisions over the years. In 2007, the guideline value was Rs 160 per sq.ft, which increased significantly to Rs 1,800 per sq.ft in 2012. However, this figure then dropped to Rs 1,206 per sq.ft in 2017. The 2023 revision saw a rise to Rs 1,500 per sq.ft, and the most recent revision in 2024 has set the value at Rs 1,980 per sq.ft.

Between these revisions, there have been notable changes. The increase from 2023 to 2024 is +32%, while the rise from 2017 to 2023 was +24%. The value decreased by -33% from 2012 to 2017, but saw a remarkable increase of +1025% from 2007 to 2012. Overall, from 2007 to 2024, the guideline value has increased by +1138%.

Guideline values in Thiruvancheri

In Thiruvancheri, there are 70 streets under the Pallavaram SRO with a 2024 guideline value ranging from Rs 1,100 to Rs 5,000 per sq.ft. The median value is Rs 1,980 per sq.ft, which is the same as that of L.S.S. Garden.

• Kulakarai Street: Rs 1,980 per sq.ft (2024)
• Kothandaramar Koil Street: Rs 1,980 per sq.ft (2024)
• M.G.R.Street: Rs 1,980 per sq.ft (2024)
• Muthumariamman Koil Street: Rs 1,980 per sq.ft (2024)
• Kamaraj Street: Rs 1,980 per sq.ft (2024)
• Nandanan Street: Rs 1,100 per sq.ft (2024)

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

For a 1,000 sq.ft plot at the current guideline value of Rs 1,980 per sq.ft, the total guideline value would be Rs 19,80,000. The stamp duty at 7% would amount to Rs 1,38,600, and the registration fee at 2% would be Rs 39,600, totaling Rs 1,78,200. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can also use the stamp duty and registration fee calculator for more detailed calculations.

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

The L.S.S. Garden area is covered by the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone. To find your specific SRO, visit find your SRO.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Thiruvancheri. It is the benchmark used to determine the stamp duty and registration fees applicable to the transaction.

When a property is sold, the buyer must pay the stamp duty based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of L.S.S. Garden?

The current guideline value of L.S.S. Garden is Rs 1,980 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 160 per sq.ft in 2007 to Rs 1,980 per sq.ft in 2024, with various increases and decreases in between.

What is the registration office for L.S.S. Garden?

The registration office for L.S.S. Garden is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044.

How is stamp duty calculated for property in L.S.S. Garden?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot, the total guideline value would be Rs 19,80,000, leading to a stamp duty of Rs 1,38,600.

What are the other streets with the same guideline value in Thiruvancheri?

Other streets in Thiruvancheri with the same 2024 guideline value of Rs 1,980 per sq.ft include Kulakarai Street, Kothandaramar Koil Street, M.G.R.Street, Muthumariamman Koil Street, and Kamaraj Street.