Guideline Value for LANCOR UDS

Lancor Uds guideline value

The current guideline value for Lancor Uds in Vallancheri village, under the Chengleput Joint II SRO, is Rs 1,980 per sq.ft, effective from 1 July 2024. This property falls under the Residential Special Type - II land classification.

How the guideline value of Lancor Uds has changed

The guideline value for Lancor Uds has undergone several revisions over the years. The 2012 revision set the value at Rs 1,800 per sq.ft, which was later revised to Rs 1,206 per sq.ft in 2017. This marked a decrease of 33%. However, from 2017 to 2023, the value increased significantly by 49%, reaching Rs 1,800 per sq.ft. The most recent revision in 2024 saw an increase to Rs 1,980 per sq.ft, reflecting a 10% rise 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 Vallancheri

In Vallancheri, there are 134 streets under the Chengleput Joint II SRO, with guideline values ranging from Rs 440 to Rs 2,200 per sq.ft. The median value for these streets is Rs 825 per sq.ft, positioning Lancor Uds above this median.

• Kumaran 2st Street (Ward-20): Rs 880 per sq.ft (2024)
• Malaiadivaaram (Ward -1): Rs 770 per sq.ft (2024)
• Kumaran 1st Street (Ward-20): Rs 880 per sq.ft (2024)
• Malai Mettu Street (Ward -1): Rs 770 per sq.ft (2024)
• Malaipuram Extention (Ward -1): Rs 770 per sq.ft (2024)
• Kulakkarai Street (Ward-21): Rs 660 per sq.ft (2024)

Stamp duty and registration fee for property in Lancor Uds

For a 1,000 sq.ft plot at the current guideline value of Rs 1,980 per sq.ft, the total guideline value amounts to Rs 19,80,000. The stamp duty at 7% would be Rs 1,38,600, and the registration fee at 2% would be Rs 39,600, bringing the total to Rs 1,78,200. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for precise calculations.

Which Sub Registrar Office covers Lancor Uds?

The Lancor Uds property falls under the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role during the registration of property transactions in Vallancheri. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives the appropriate stamp duty and registration fees.

When buying or selling property, the guideline value helps both parties understand the fair value of the property based on current market conditions. It is essential for buyers to be aware of the guideline value to avoid underreporting the sale price, which could lead to penalties.

Frequently asked questions

What is the current guideline value for Lancor Uds?

The current guideline value for Lancor Uds is Rs 1,980 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,800 per sq.ft in 2012 to Rs 1,206 per sq.ft in 2017, then to Rs 1,800 per sq.ft in 2023, and finally to Rs 1,980 per sq.ft in 2024.

What is the land classification for Lancor Uds?

Lancor Uds is classified as Residential Special Type - II, which is relevant for determining its guideline value.

What are the stamp duty and registration fees for property transactions?

For a property valued at Rs 19,80,000, the stamp duty would be Rs 1,38,600 and the registration fee would be Rs 39,600, totaling Rs 1,78,200.

Where can I find the Chengleput Joint II Sub Registrar Office?

The Chengleput Joint II Sub Registrar Office is located at 10, Kancheepuram Main Road, Chengalpattu 603 002, in the Chengalpattu registration zone.