Guideline Value for L.V.Prasath Street

L.V.Prasath Street guideline value

The current guideline value of L.V.Prasath Street is Rs 6,050 per sq.ft, effective from 1 July 2024. This street is located in Saligramam village, under the Virugambakkam SRO, and is classified as Mixed Special Type - III.

How the guideline value of L.V.Prasath Street has changed

The guideline value for L.V.Prasath Street has undergone several revisions over the years. The earliest recorded figure is from 2002, with a value of Rs 735 per sq.ft. This increased to Rs 1,000 per sq.ft in 2003, followed by a rise to Rs 1,100 per sq.ft in 2007. The value then saw a significant jump to Rs 5,500 per sq.ft in 2012, before dropping to Rs 3,685 per sq.ft in 2017. The 2023 revision set the value at Rs 5,500 per sq.ft, and the latest revision in 2024 has raised it to Rs 6,050 per sq.ft.

From 2017 to 2023, there was a 49% increase, while the jump from 2012 to 2017 was a decrease of 33%. The 2007 to 2012 period saw a remarkable increase of 400%. Additionally, from 2003 to 2007, the value increased by 10%, and from 2002 to 2003, it rose by 36%. Overall, from 2002 to 2024, the guideline value has increased by 723%.

Guideline values in Saligramam

In Saligramam, there are 333 streets under the Virugambakkam SRO that carry a 2024 guideline value ranging from Rs 2,750 to Rs 13,200 per sq.ft, with a median value of Rs 4,400 per sq.ft. L.V.Prasath Street's 2024 figure is above this median.

• Logaiyya Street: Rs 5,500 per sq.ft (2024)
• Logaiyya Colony Main Road: Rs 5,500 per sq.ft (2024)
• Logaiyya Colony 5th Street: Rs 5,500 per sq.ft (2024)
• Logaiyya Colony 5th Cross Street: Rs 4,400 per sq.ft (2024)
• Logaiyya Colony 4th Street: Rs 5,500 per sq.ft (2024)
• Logaiyya Colony 4th Cross Street: Rs 4,400 per sq.ft (2024)

Stamp duty and registration fee for property in L.V.Prasath Street

For a 1,000 sq.ft plot at the current rate of Rs 6,050 per sq.ft, the guideline value amounts to Rs 60,50,000. The stamp duty at 7% would be Rs 4,23,500, while the registration fee at 2% would be Rs 1,21,000, bringing the total to Rs 5,44,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers L.V.Prasath Street?

The Sub Registrar Office that covers L.V.Prasath Street is the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037. You can find your SRO for more details.

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

When buying or selling property in Saligramam, the guideline value plays a crucial role in determining the stamp duty and registration fees. The guideline value is used as a benchmark to assess the value of the property, ensuring that the transaction is recorded accurately and fairly.

It is essential for buyers and sellers to be aware of the current guideline value as it affects the overall cost of the transaction. Proper understanding of this value can help in making informed decisions during property dealings.

Frequently asked questions

What is the current guideline value of L.V.Prasath Street?

The current guideline value of L.V.Prasath Street is Rs 6,050 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed several times, with the most recent increase being from Rs 5,500 per sq.ft in 2023 to Rs 6,050 per sq.ft in 2024.

What is the land classification for L.V.Prasath Street?

L.V.Prasath Street is classified as Mixed Special Type - III according to the registration records.

What are the stamp duty and registration fees for properties on this street?

For a property valued at Rs 60,50,000, the stamp duty would be Rs 4,23,500 and the registration fee would be Rs 1,21,000, totaling Rs 5,44,500.

Where can I find the Sub Registrar Office for L.V.Prasath Street?

The Sub Registrar Office for L.V.Prasath Street is located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.