Guideline Value for LALA GARDEN

Lala Garden guideline value

The current guideline value of Lala Garden is Rs 11,000 per sq.ft, effective from 1 July 2024. This area is located in Tnagar village, under the Thiyagaraya nagar SRO, and is classified as Residential Special Type - I.

How the guideline value of Lala Garden has changed

In the 2012 revision, the guideline value for Lala Garden was Rs 10,000 per sq.ft. This figure remained the same in the 2012 revision and saw a decrease to Rs 6,700 per sq.ft in the 2017 revision. Following this, the value significantly increased to Rs 10,000 per sq.ft in the 2023 revision, marking a 49% increase from the 2017 figure. The most recent revision in 2024 has set the guideline value at Rs 11,000 per sq.ft, reflecting a 10% increase from the previous year.

It is important to note that there are no figures available for the years 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Tnagar

In Tnagar, there are 262 streets under the Thiyagaraya nagar SRO, with the 2024 guideline values ranging from Rs 4,400 to Rs 27,500 per sq.ft. The median value for these streets is Rs 11,000 per sq.ft, which is equal to the current guideline value of Lala Garden.

• Lakshmi Narashiman Street: Rs 7,700 per sq.ft (2024)
• Lodikhan Road: Rs 7,700 per sq.ft (2024)
• Lakshmikanthan Street: Rs 6,600 per sq.ft (2024)
• Lakshmi Colony: Rs 6,600 per sq.ft (2024)
• Lakshmana Chetty Street: Rs 5,500 per sq.ft (2024)
• Madley 2nd Street: Rs 8,800 per sq.ft (2024)

Stamp duty and registration fee for property in Lala Garden

For a 1,000 sq.ft plot at the current guideline value of Rs 11,000 per sq.ft, the total guideline value amounts to Rs 1,10,00,000. The stamp duty at 7% would be Rs 7,70,000, and the registration fee at 2% would be Rs 2,20,000, making the total cost for these fees Rs 9,90,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Lala Garden?

The Sub Registrar Office that covers Lala Garden is the Thiyagaraya nagar Sub Registrar Office, located at 27/14, Vetnari Hospital Road, Panpet, Nandhanam, Chennai-35. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Tnagar. It is used to determine the stamp duty and registration fees that need to be paid, ensuring that the transaction is recorded accurately in the official records.

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 in the area.

Frequently asked questions

What is the current guideline value of Lala Garden?

The current guideline value of Lala Garden is Rs 11,000 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 10,000 per sq.ft in 2012 to Rs 6,700 per sq.ft in 2017, then back to Rs 10,000 per sq.ft in 2023, and finally to Rs 11,000 per sq.ft in 2024.

What is the land classification for Lala Garden?

Lala Garden is classified as Residential Special Type - I, indicating its designated use for residential purposes.

Where can I find the Sub Registrar Office for Lala Garden?

The Sub Registrar Office for Lala Garden is the Thiyagaraya nagar Sub Registrar Office, located at 27/14, Vetnari Hospital Road, Panpet, Nandhanam, Chennai-35.

How are stamp duty and registration fees calculated?

Stamp duty and registration fees are calculated based on the guideline value or the sale price of the property, whichever is higher. For example, a 1,000 sq.ft plot at Rs 11,000 per sq.ft would incur a total fee of Rs 9,90,000.