Guideline Value for LAL BAHATHUR SASTRI STREET

Lal Bahathur Sastri Street guideline value

The current guideline value of Lal Bahathur Sastri Street is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Perungudi village, under the Neelankarai SRO, and is classified as Residential Class II Type - II.

How the guideline value of Lal Bahathur Sastri Street has changed

The guideline value for Lal Bahathur Sastri Street has seen several revisions over the years. Starting from Rs 264 per sq.ft in 2002, it increased to Rs 300 per sq.ft in 2003, marking a 14% rise. The value then rose significantly to Rs 600 per sq.ft in 2007, which was a 100% increase. Following this, it reached Rs 3,000 per sq.ft in 2012, reflecting a 400% increase from the previous revision. However, it decreased to Rs 2,010 per sq.ft in 2017, a decline of 33%.

In 2023, the guideline value was revised to Rs 3,000 per sq.ft, and then increased again to Rs 3,300 per sq.ft in 2024, showing a 10% increase. Overall, from 2002 to 2024, the guideline value has increased by 1150%. There are no figures available for any other years for this street in the register.

Guideline values in Perungudi

In Perungudi, there are 249 streets under the Neelankarai SRO, with guideline values ranging from Rs 1,100 to Rs 8,800 per sq.ft. The median value is Rs 3,300 per sq.ft, which is equal to the current guideline value of Lal Bahathur Sastri Street.

• Lakshmanan Nagar & Main Road: Rs 5,500 per sq.ft (2024)
• Lakshmana Nagar C.B.I.Colony: Rs 5,500 per sq.ft (2024)
• Lakshmanan 2nd (Cross) Street: Rs 5,500 per sq.ft (2024)
• Lakshmanan 1st (Cross) Street: Rs 5,500 per sq.ft (2024)
• Kurunchi Nagar 9th Cross Street: Rs 3,300 per sq.ft (2024)
• Kurunchi Nagar 8th Cross Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Lal Bahathur Sastri Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value would be Rs 33,00,000. The stamp duty at 7% would amount to Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, bringing the total cost to Rs 2,97,000. 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 Lal Bahathur Sastri Street?

The Lal Bahathur Sastri Street falls under the Neelankarai Sub Registrar Office, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone. You can find your SRO for more details.

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

The guideline value is a crucial reference for property transactions in Perungudi. It is used to determine the stamp duty and registration fees that need to be paid during the registration process. Buyers and sellers should be aware of the guideline value to ensure compliance with legal requirements.

When purchasing property, the guideline value serves as a benchmark to assess the minimum value for registration. It ensures that the property is registered at a value that reflects the current market conditions as per the official records.

Frequently asked questions

What is the current guideline value of Lal Bahathur Sastri Street?

The current guideline value of Lal Bahathur Sastri Street is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 264 per sq.ft in 2002 to Rs 3,300 per sq.ft in 2024, showing a significant increase of 1150% over the years.

What is the land classification for Lal Bahathur Sastri Street?

Lal Bahathur Sastri Street is classified as Residential Class II Type - II.

Where can I find the registration office for this street?

The registration office covering Lal Bahathur Sastri Street is the Neelankarai Sub Registrar Office, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai.

How is the stamp duty calculated for properties in this area?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 33,00,000, the stamp duty would be Rs 2,31,000 at a rate of 7%.