Guideline Value for LALBAGADUR SHASTRI WEST ROAD

Lalbagadur Shastri West Road guideline value

The current guideline value of Lalbagadur Shastri West Road is Rs 550 per sq.ft, effective from 1 July 2024. This road is located in Minjur village under the Ponneri SRO, and it falls under the Residential Class II Type - I land classification.

How the guideline value of Lalbagadur Shastri West Road has changed

The guideline value for Lalbagadur Shastri West Road has seen several revisions over the years. The most recent revision in 2024 set the value at Rs 550 per sq.ft, which is an increase of 10% from the 2023 revision of Rs 500 per sq.ft. Prior to that, in 2017, the guideline value was Rs 335 per sq.ft, marking a significant increase of 49% to reach the 2023 figure. The register has no figures for the years 2002, 2003, 2007, and 2012.

Overall, from the 2017 revision to the 2024 revision, the guideline value has increased by 64%. This reflects the changes in the valuation of properties in the area over the years.

Guideline values in Minjur

In Minjur village, there are 179 streets under the Ponneri SRO that carry a 2024 guideline value, ranging from Rs 440 to Rs 1,320 per sq.ft. The median value among these streets is Rs 550 per sq.ft, which is equal to the guideline value of Lalbagadur Shastri West Road.

• Lalbagadur Sasthri Road: Rs 550 per sq.ft (2024)
• Lalbagadur Sasthri Main Road: Rs 550 per sq.ft (2024)
• Lakshmi Saraswathi Nagar: Rs 550 per sq.ft (2024)
• Lakshmipuram Main Road: Rs 550 per sq.ft (2024)
• Lakshmipuram Colony Road: Rs 550 per sq.ft (2024)
• Lakshmipuram Adi Dravidar Colony: Rs 550 per sq.ft (2024)

Stamp duty and registration fee for property in Lalbagadur Shastri West Road

For a 1,000 sq.ft plot at the current guideline value of Rs 550 per sq.ft, the total guideline value would be Rs 5,50,000. The stamp duty at 7% would amount to Rs 38,500, while the registration fee at 2% would be Rs 11,000, bringing the total fees to Rs 49,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Lalbagadur Shastri West Road?

The Lalbagadur Shastri West Road is covered by the Ponneri Sub Registrar Office, located at 9/5, Taluk Office Road, Ponneri, Chennai-601204. You can find your SRO for more information.

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

The guideline value is an essential factor when registering property transactions in Minjur. It serves as a benchmark for determining the stamp duty and registration fees that must be paid during the sale or purchase of property.

Frequently asked questions

What is the current guideline value of Lalbagadur Shastri West Road?

The current guideline value of Lalbagadur Shastri West Road is Rs 550 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 335 per sq.ft in 2017 to Rs 550 per sq.ft in 2024, representing an overall increase of 64%.

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

For a property valued at Rs 5,50,000, the stamp duty would be Rs 38,500 and the registration fee would be Rs 11,000, totaling Rs 49,500.

Which office handles registrations for Lalbagadur Shastri West Road?

The Ponneri Sub Registrar Office handles registrations for Lalbagadur Shastri West Road, located at 9/5, Taluk Office Road, Ponneri, Chennai-601204.

What is the land classification for Lalbagadur Shastri West Road?

Lalbagadur Shastri West Road is classified under Residential Class II Type - I, indicating its suitability for residential development.