Guideline Value for LALITHA AVENUE

Lalitha Avenue guideline value

The current guideline value of Lalitha Avenue is Rs 550 per sq.ft, effective from 1 July 2024. This street is located in Thiruninravur-A village under the Avadi SRO, classified as Residential Class V Type - II.

How the guideline value of Lalitha Avenue has changed

The guideline value for Lalitha Avenue has seen several revisions over the years. The 2017 revision set the value at Rs 500 per sq.ft, which remained unchanged until the 2023 revision. In 2023, the guideline value was updated to Rs 500 per sq.ft, and then increased to Rs 550 per sq.ft in the 2024 revision, marking a 10% increase from the previous year.

Overall, from the 2017 revision to the 2024 revision, the guideline value has increased by 10%. It is important to note that there are no figures available for the revisions in the years 2002, 2003, 2007, and 2012 for this street.

Guideline values in Thiruninravur-A

In Thiruninravur-A, there are 382 streets under the Avadi SRO with a 2024 guideline value ranging from Rs 440 to Rs 2,750 per sq.ft. The median guideline value for these streets is Rs 750 per sq.ft, placing Lalitha Avenue's 2024 figure below that median.

• Lalithanjali Nagar: Rs 1,200 per sq.ft (2024)
• Lakshmipuram & Streets: Rs 840 per sq.ft (2024)
• Lakshmipuram 9th Main St: Rs 840 per sq.ft (2024)
• Lakshmipuram 9th Cross St: Rs 840 per sq.ft (2024)
• Lakshmipuram 8th Main St: Rs 840 per sq.ft (2024)
• Lakshmipuram 8th Cross St: Rs 840 per sq.ft (2024)

Stamp duty and registration fee for property in Lalitha Avenue

For a 1,000 sq.ft plot at the current guideline value of Rs 550 per sq.ft, the total guideline value amounts to Rs 5,50,000. The stamp duty is calculated at 7%, which is Rs 38,500, and the registration fee is 2%, amounting to Rs 11,000. Together, the total cost for stamp duty and registration fee is 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 further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Lalitha Avenue?

Lalitha Avenue falls under the Avadi Sub Registrar Office, located at Plot No.145, Vii Street, Modern City, Thandurai Village, Avadi Taluk, Tiruvallur District, Chennai registration zone. You can find your SRO for more information.

How the guideline value is used when you buy or sell in Thiruninravur-A

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

When a property is sold, the sale price must be at least equal to the guideline value, or the higher amount will be used for calculating the stamp duty and registration fees. This ensures transparency and fairness in property transactions within the region.

Frequently asked questions

What is the current guideline value of Lalitha Avenue?

The current guideline value of Lalitha Avenue is Rs 550 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value for Lalitha Avenue was Rs 500 per sq.ft in 2017 and 2023, and increased to Rs 550 per sq.ft in 2024. This represents a 10% increase from 2023 to 2024 and an overall increase of 10% from 2017 to 2024.

What is the land classification for Lalitha Avenue?

Lalitha Avenue is classified as Residential Class V Type - II. This classification is important for determining the guidelines and regulations applicable to properties in this area.

What are the stamp duty and registration fees for properties in Lalitha Avenue?

The stamp duty for a property in Lalitha Avenue is 7% of the guideline value, while the registration fee is 2%. For example, a 1,000 sq.ft plot at the current guideline value results in a total cost of Rs 49,500 for stamp duty and registration fees.

Which Sub Registrar Office covers Lalitha Avenue?

Lalitha Avenue is covered by the Avadi Sub Registrar Office, located at Plot No.145, Vii Street, Modern City, Thandurai Village, Avadi Taluk, Tiruvallur District, Chennai registration zone.