Guideline Value for LALITHA NAGAR

Lalitha Nagar guideline value

The current guideline value of Lalitha Nagar is Rs 8,200 per sq.ft, effective from 1 July 2024. This area is located in Mylapore village, under the Mylapore SRO, and is classified as Residential Class IV Type - I.

How the guideline value of Lalitha Nagar has changed

The guideline value of Lalitha Nagar has seen significant changes over the years. In 2002, the value was Rs 1,044 per sq.ft, which increased to Rs 1,160 per sq.ft in 2003, marking an increase of 11%. From 2003 to 2012, the value surged to Rs 7,500 per sq.ft, reflecting a remarkable increase of 547%. The most recent revision in 2024 set the value at Rs 8,200 per sq.ft, showing a 9% increase from the 2012 figure.

It is important to note that there are no figures available for the revisions in 2007, 2017, and 2023 for this street. Overall, from 2002 to 2024, the guideline value has increased by 685%.

Guideline values in Mylapore

In Mylapore, there are 883 streets under the Mylapore SRO with a 2024 guideline value ranging from Rs 3,300 to Rs 25,800 per sq.ft. The median value for these streets is Rs 8,800 per sq.ft, placing Lalitha Nagar's current guideline value below the median.

• Lalitha Nagar 1st Street: Rs 8,200 per sq.ft (2024)
• Lalitha Nagar 2nd Street: Rs 8,200 per sq.ft (2024)
• Lalitha Nagar 3rd Street: Rs 8,200 per sq.ft (2024)
• Lalithapuram: Rs 8,200 per sq.ft (2024)
• Lambath Avenue: Rs 8,200 per sq.ft (2024)
• Lasurus Church Road: Rs 8,800 per sq.ft (2024)

Stamp duty and registration fee for property in Lalitha Nagar

For a 1,000 sq.ft plot at the current rate of Rs 8,200 per sq.ft, the guideline value amounts to Rs 82,00,000. The stamp duty at 7% would be Rs 5,74,000, and the registration fee at 2% would be Rs 1,64,000, totaling Rs 7,38,000. Note that duty is charged on the guideline value or the sale price, whichever is higher. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Lalitha Nagar?

The Lalitha Nagar area falls under the Mylapore Sub Registrar Office, located at No:5/9, Kavingar Bharathidasan Salai, Seethamalcolony, Crescent Street, Alwarpet, Chennai - 600018. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions in Mylapore. It is used to determine the stamp duty and registration fees that buyers must pay when purchasing property. The value is set by the government and reflects the market rate for properties in the area.

When a property is sold, the guideline value ensures that the transaction is recorded accurately for taxation purposes. Buyers should always check the latest guideline value to understand the financial implications of their property purchase.

Frequently asked questions

What is the current guideline value of Lalitha Nagar?

The current guideline value of Lalitha Nagar is Rs 8,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 1,044 per sq.ft in 2002 to Rs 8,200 per sq.ft in 2024, reflecting an overall increase of 685%.

What is the registration fee for property in Lalitha Nagar?

The registration fee is calculated based on the guideline value or the sale price, whichever is higher. For a property valued at Rs 82,00,000, the registration fee would be Rs 1,64,000 at 2%.

Which office handles property registrations in Lalitha Nagar?

The Mylapore Sub Registrar Office handles property registrations in Lalitha Nagar, located at No:5/9, Kavingar Bharathidasan Salai, Seethamalcolony, Crescent Street, Alwarpet, Chennai - 600018.

What is the median guideline value in Mylapore?

The median guideline value for streets in Mylapore is Rs 8,800 per sq.ft, with Lalitha Nagar's current value being below this median.