Guideline Value for LALBAGADUR SASTRI STREET

Lalbagadur Sastri Street guideline value

The current guideline value of Lalbagadur Sastri Street is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in the Sholinganallur - 1 village under the Neelankarai SRO and falls under the Residential Class II Type - III land classification.

How the guideline value of Lalbagadur Sastri Street has changed

The guideline value for Lalbagadur Sastri Street has undergone several revisions over the years. The earliest recorded revision is from 2017, where the guideline value was Rs 1,340 per sq.ft. This figure increased significantly to Rs 2,000 per sq.ft in the 2023 revision, marking a 49% increase. The latest revision in 2024 saw another increase to Rs 2,200 per sq.ft, which is a 10% rise from the previous year.

There are no recorded figures for the years 2002, 2003, 2007, and 2012 for Lalbagadur Sastri Street. Overall, from 2017 to 2024, the guideline value has increased by 64%.

Guideline values in Sholinganallur - 1

In Sholinganallur - 1, there are 754 streets under the Neelankarai SRO that carry a 2024 guideline value, ranging from Rs 1,000 to Rs 8,800 per sq.ft. The median guideline value for these streets is Rs 2,200 per sq.ft, which is equal to the current guideline value of Lalbagadur Sastri Street.

• Lalbagadur Sastri Cross Street: Rs 2,200 per sq.ft (2024)
• Lalbagadur Sastri Street Lane: Rs 2,200 per sq.ft (2024)
• Lalbagadur Sastri 3rd Cross Street: Rs 2,200 per sq.ft (2024)
• Lalbagadur Sastri 2nd Cross Street: Rs 2,200 per sq.ft (2024)
• Lalbagadur Sastri 1st Street: Rs 2,200 per sq.ft (2024)
• Lakshmi Nagar Main Road: Rs 2,800 per sq.ft (2024)

Stamp duty and registration fee for property in Lalbagadur Sastri Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value amounts to Rs 22,00,000. The stamp duty at 7% would be Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, bringing the total fees together to Rs 1,98,000. Please note that the duty is charged on the higher of the guideline value or the sale price.

You can also use our stamp duty and registration fee calculator for more precise calculations.

Which Sub Registrar Office covers Lalbagadur Sastri Street?

Lalbagadur Sastri Street is covered by 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 information.

How the guideline value is used when you buy or sell in Sholinganallur - 1

The guideline value is a crucial factor in the registration process when buying or selling property in Sholinganallur - 1. It determines the minimum value at which a property can be registered, ensuring that the state government receives appropriate revenue through stamp duty and registration fees.

When a buyer and seller agree on a sale price, the higher of the sale price or the guideline value is used to calculate the applicable stamp duty and registration fees. This ensures that transactions are conducted transparently and in accordance with legal requirements.

Frequently asked questions

What is the current guideline value of Lalbagadur Sastri Street?

The current guideline value of Lalbagadur Sastri Street is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 1,340 per sq.ft in 2017 to Rs 2,200 per sq.ft in 2024, marking an overall increase of 64% during this period.

What are the other streets with the same guideline value?

Other streets in Sholinganallur - 1, such as Lalbagadur Sastri Cross Street, Lalbagadur Sastri Street Lane, Lalbagadur Sastri 3rd Cross Street, Lalbagadur Sastri 2nd Cross Street, and Lalbagadur Sastri 1st Street, all share the same guideline value of Rs 2,200 per sq.ft for 2024.

What is the stamp duty rate in Tamil Nadu?

The stamp duty rate in Tamil Nadu is generally 7% of the guideline value or sale price, whichever is higher. Additionally, a registration fee of 2% is also applicable.

Where can I find the Neelankarai Sub Registrar Office?

The Neelankarai Sub Registrar Office is located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone. You can find more details online.