Guideline Value for LALA THOTTAM AND POONTHOTTAM

Lala Thottam And Poonthottam guideline value

The current guideline value for Lala Thottam And Poonthottam is Rs 3,300 per sq.ft, effective from 1 July 2024. This area is located in Mylapore village, under the Mylapore SRO, and is classified as Residential Class V Type - III.

How the guideline value of Lala Thottam And Poonthottam has changed

The guideline value for Lala Thottam And Poonthottam has seen several revisions over the years. Starting from Rs 663 per sq.ft in 2002, it increased to Rs 737 per sq.ft in 2003, marking a rise of 11%. The value then rose significantly to Rs 900 per sq.ft in 2007, an increase of 22%. Following this, the guideline value surged to Rs 3,000 per sq.ft in 2012, reflecting a substantial increase of 233%.

In the subsequent revision, the value decreased to Rs 2,010 per sq.ft in 2017, a decline of 33%. However, the value rebounded to Rs 3,000 per sq.ft in 2023, and then further increased to Rs 3,300 per sq.ft in 2024, marking a 10% rise. Overall, from 2002 to 2024, the guideline value has increased by 398%. There are no figures available for the revisions for any other years for this street.

Guideline values in Mylapore

In Mylapore, there are 883 streets under the Mylapore SRO, with guideline values ranging from Rs 3,300 to Rs 25,800 per sq.ft. The median guideline value in this area is Rs 8,800 per sq.ft, which means that Lala Thottam And Poonthottam's 2024 figure is below that median.

• Lakshmipuram Street: Rs 11,500 per sq.ft (2024)
• Lakshmipuram Sannadi Street: Rs 8,800 per sq.ft (2024)
• Lalitha Nagar: Rs 8,200 per sq.ft (2024)
• Lalitha Nagar 1st Street: Rs 8,200 per sq.ft (2024)
• Lalitha Nagar 2nd Street: Rs 8,200 per sq.ft (2024)
• Lalitha Nagar 3rd Street: Rs 8,200 per sq.ft (2024)

Stamp duty and registration fee for property in Lala Thottam And Poonthottam

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, while the registration fee at 2% would be Rs 66,000. Together, the total cost would be 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. You can use the stamp duty and registration fee calculator for further assistance.

Which Sub Registrar Office covers Lala Thottam And Poonthottam?

The Sub Registrar Office that covers Lala Thottam And Poonthottam is the Mylapore Sub Registrar Office, located at No:5/9, Kavingar Bharathidasan Salai, Seethamalcolony, Crescent Street, Alwarpet, Chennai - 600018. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Mylapore. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is documented accurately.

When a property is sold, the buyer must pay stamp duty and registration fees 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 Lala Thottam And Poonthottam?

The current guideline value of Lala Thottam And Poonthottam 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 increased from Rs 663 per sq.ft in 2002 to Rs 3,300 per sq.ft in 2024, showing an overall increase of 398% over this period.

What is the land classification for Lala Thottam And Poonthottam?

Lala Thottam And Poonthottam is classified as Residential Class V Type - III.

Where can I find the Mylapore Sub Registrar Office?

The Mylapore Sub Registrar Office is located at No:5/9, Kavingar Bharathidasan Salai, Seethamalcolony, Crescent Street, Alwarpet, Chennai - 600018.

How is stamp duty calculated for properties in Lala Thottam And Poonthottam?

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