Guideline Value for LASAR NAGAR 1ST STREET

Lasar Nagar 1st Street guideline value

The current guideline value of Lasar Nagar 1st Street is Rs 1,980 per sq.ft, effective from 1 July 2024. This street is located in Paleripattu village under the Avadi SRO and is classified as Commercial Special Type - I.

How the guideline value of Lasar Nagar 1st Street has changed

The guideline value for Lasar Nagar 1st Street has undergone several revisions over the years. The earliest recorded figure is from 2002, which was Rs 163 per sq.ft. This value increased to Rs 184 per sq.ft in 2003, marking a change of +13%. The subsequent revision in 2007 saw a significant jump to Rs 300 per sq.ft, reflecting an increase of +63%. In 2012, the value rose to Rs 1,200 per sq.ft, a substantial increase of +300% from 2007. However, this was followed by a decrease to Rs 804 per sq.ft in 2017, showing a change of -33%.

From 2017 to 2023, the guideline value surged to Rs 1,800 per sq.ft, an increase of +124%. The most recent revision in 2024 has set the guideline value at Rs 1,980 per sq.ft, which is a change of +10% from the previous year. It is important to note that there are no figures in the register for the years not listed above.

Guideline values in Paleripattu

Paleripattu village has a total of 111 streets under the Avadi SRO that carry a 2024 guideline value, ranging from Rs 801 to Rs 4,200 per sq.ft. The median guideline value in this village is Rs 990 per sq.ft, placing Lasar Nagar 1st Street's value above this median.

• Lasar Nagar 10th Street: Rs 1,980 per sq.ft (2024)
• Lasar Nagar 2nd Street: Rs 1,980 per sq.ft (2024)
• Lasar Nagar 3rd Street: Rs 1,980 per sq.ft (2024)
• Lasar Nagar 4th Street: Rs 1,980 per sq.ft (2024)
• Lasar Nagar 5th Street: Rs 1,980 per sq.ft (2024)
• Lasar Nagar 6th Street: Rs 1,980 per sq.ft (2024)

Stamp duty and registration fee for property in Lasar Nagar 1st Street

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

For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Lasar Nagar 1st Street?

The Sub Registrar Office that covers Lasar Nagar 1st Street is 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 Paleripattu

The guideline value is a crucial factor when registering property transactions in Paleripattu. It serves as a benchmark for determining the minimum price at which a property can be sold or purchased. When a property is registered, the guideline value is used to calculate the applicable stamp duty and registration fees.

It is essential for buyers and sellers to be aware of the guideline value to ensure compliance with legal requirements during property transactions. This value helps in maintaining transparency and fairness in the real estate market.

Frequently asked questions

What is the current guideline value of Lasar Nagar 1st Street?

The current guideline value of Lasar Nagar 1st Street 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 significantly from Rs 163 per sq.ft in 2002 to Rs 1,980 per sq.ft in 2024, reflecting an overall increase of +1115% over the years.

What is the median guideline value in Paleripattu?

The median guideline value in Paleripattu is Rs 990 per sq.ft, with Lasar Nagar 1st Street's value being above this median.

What are the stamp duty and registration fees for properties in Lasar Nagar 1st Street?

The stamp duty is charged at 7% and the registration fee at 2% of the guideline value or sale price, whichever is higher. For a 1,000 sq.ft plot, the total fees would be Rs 1,78,200.

Which office handles property registrations for Lasar Nagar 1st Street?

The Avadi Sub Registrar Office handles property registrations for Lasar Nagar 1st Street, located at Plot No.145, Vii Street, Modern City, Thandurai Village, Avadi Taluk, Tiruvallur District, Chennai registration zone.