Guideline Value for LALBAGATHUR STREET

Lalbagathur Street guideline value

The current guideline value of Lalbagathur Street is Rs 1,000 per sq.ft, effective from 1 July 2024. This street is located in Vengathur village, under the Manavalanagar SRO. The land classification for this area is Residential Class I Type - I.

How the guideline value of Lalbagathur Street has changed

The guideline value for Lalbagathur Street has undergone several revisions over the years. The earliest recorded figure is from 2007, where the value was Rs 125 per sq.ft. This increased significantly to Rs 1,000 per sq.ft in 2012, marking a 700% rise. However, the value decreased to Rs 670 per sq.ft in 2017, a drop of 33%. By the 2023 revision, the value returned to Rs 1,000 per sq.ft, and it has remained the same in the 2024 revision, indicating no change from the previous year.

It is important to note that there are no figures available for the years 2002 and 2003 in the register for this street. Overall, from 2007 to 2024, the guideline value has increased by 700%.

Guideline values in Vengathur

In Vengathur, there are 186 streets under the Manavalanagar SRO that carry a 2024 guideline value ranging from Rs 500 to Rs 2,000 per sq.ft. The median value is Rs 1,000 per sq.ft, which is equal to the current guideline value of Lalbagathur Street.

• Lalbagathur Sasthiri Street (Ondikuppam): Rs 1,300 per sq.ft (2024)
• Lenin Street: Rs 600 per sq.ft (2024)
• Maariyappa Reddy Street: Rs 1,300 per sq.ft (2024)
• Kutti Mani Street: Rs 600 per sq.ft (2024)
• Kuruvayur Steet: Rs 600 per sq.ft (2024)
• Kurungi Street: Rs 600 per sq.ft (2024)

Stamp duty and registration fee for property in Lalbagathur Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,000 per sq.ft, the total guideline value amounts to Rs 10,00,000. The stamp duty at 7% would be Rs 70,000, and the registration fee at 2% would be Rs 20,000, bringing the total fees to Rs 90,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

For more information on calculating fees, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Lalbagathur Street?

The Sub Registrar Office that covers Lalbagathur Street is the Manavalanagar Sub Registrar Office, located at Thandalam Main Road, Nungambakkam Village, Manavalanagar-602002, Chennai registration zone.

You can find your SRO for more details.

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

When buying or selling property in Vengathur, the guideline value is a crucial factor during the registration process. It is used to determine the stamp duty and registration fees that need to be paid, ensuring that the transaction is compliant with local regulations.

The guideline value serves as a benchmark for property transactions, helping to establish a fair value for properties based on their location and classification. Buyers and sellers should be aware of this value to ensure a smooth transaction process.

Frequently asked questions

What is the current guideline value of Lalbagathur Street?

The current guideline value of Lalbagathur Street is Rs 1,000 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 125 per sq.ft in 2007 to Rs 1,000 per sq.ft in 2012, then decreased to Rs 670 per sq.ft in 2017, and returned to Rs 1,000 per sq.ft in 2023 and 2024.

What is the land classification for Lalbagathur Street?

Lalbagathur Street is classified as Residential Class I Type - I, which indicates its suitability for residential purposes.

What are the stamp duty and registration fees for properties in Lalbagathur Street?

The stamp duty is 7% of the guideline value, and the registration fee is 2%. For a 1,000 sq.ft plot, the total fees would be Rs 90,000.

Which office handles the registration for Lalbagathur Street?

The Manavalanagar Sub Registrar Office handles the registration for Lalbagathur Street, located at Thandalam Main Road, Nungambakkam Village, Manavalanagar-602002, Chennai registration zone.