Guideline Value for LALITHA GARDEN

Lalitha Garden guideline value

The current guideline value of Lalitha Garden in Karapakkam village is Rs 1,100 per sq.ft, effective from 1 July 2024. This area falls under the Neelankarai SRO and is classified as Residential Class III Type - I.

How the guideline value of Lalitha Garden has changed

The guideline value for Lalitha Garden has undergone several revisions over the years. In the 2012 revision, the value was Rs 1,000 per sq.ft, which decreased to Rs 670 per sq.ft in the 2017 revision. However, from 2017 to 2023, there was a significant increase of 49%, bringing the value back to Rs 1,000 per sq.ft. The latest revision in 2024 set the value at Rs 1,100 per sq.ft, marking a 10% increase from the previous year.

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

Guideline values in Karapakkam

In Karapakkam, there are 185 streets under the Neelankarai SRO that carry a 2024 guideline value, ranging from Rs 1,000 to Rs 10,700 per sq.ft. The median value is Rs 1,700 per sq.ft, which means Lalitha Garden's 2024 figure is below that median.

• Lakshmi Vinayagar Street: Rs 1,700 per sq.ft (2024)
• Lakshmi Vinayagar Koil Street: Rs 1,700 per sq.ft (2024)
• LAKSHMI VINAYAGAR 2nd STREET 2nd CROSS: Rs 1,700 per sq.ft (2024)
• LAKSHMI VINAYAGAR 2nd STREET: Rs 1,700 per sq.ft (2024)
• LAKSHMI VINAYAGAR 2nd 1st CROSS: Rs 1,700 per sq.ft (2024)
• L.N.Sharma School: Rs 1,000 per sq.ft (2024)

Stamp duty and registration fee for property in Lalitha Garden

For a 1,000 sq.ft plot at the current rate of Rs 1,100 per sq.ft, the guideline value would be Rs 11,00,000. The stamp duty at 7% would amount to Rs 77,000, and the registration fee at 2% would be Rs 22,000, totaling Rs 99,000. It is important to 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 Lalitha Garden?

The Lalitha Garden area 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 Karapakkam

The guideline value plays a crucial role during property transactions in Karapakkam. It is used to determine the stamp duty and registration fees that must be paid when a property is bought or sold. Buyers and sellers should be aware of the current guideline value to ensure compliance with legal requirements.

When registering a property, the guideline value is compared with the sale price. The higher of the two values is used to calculate the applicable duties and fees, ensuring that the transaction adheres to the regulations set by the Registration Department.

Frequently asked questions

What is the current guideline value of Lalitha Garden?

The current guideline value of Lalitha Garden is Rs 1,100 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has changed from Rs 1,000 per sq.ft in 2012 to Rs 670 per sq.ft in 2017, then back to Rs 1,000 per sq.ft in 2023, and finally to Rs 1,100 per sq.ft in 2024.

What is the land classification for Lalitha Garden?

Lalitha Garden is classified as Residential Class III Type - I.

What is the median guideline value for streets in Karapakkam?

The median guideline value for streets in Karapakkam is Rs 1,700 per sq.ft, while Lalitha Garden's current value is below this median.

Where can I find more information about the Neelankarai SRO?

You can find more information about the Neelankarai Sub Registrar Office at the address 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.