Guideline Value for LASAR NAGAR 2ND STREET

Lasar Nagar 2nd Street guideline value

The current guideline value of Lasar Nagar 2nd Street is Rs 1,980 per sq.ft, effective from 1 July 2024. This street is located in Paleripattu village under the Avadi SRO, classified as Commercial Special Type - I.

How the guideline value of Lasar Nagar 2nd Street has changed

The guideline value for Lasar Nagar 2nd Street has experienced several revisions over the years. Starting from the 2002 revision, the guideline value was Rs 163 per sq.ft. In 2003, it increased to Rs 184 per sq.ft, marking a change of +13%. The 2007 revision saw a significant jump to Rs 300 per sq.ft, which was a +63% increase. The value further escalated to Rs 1,200 per sq.ft in 2012, reflecting a +300% change. However, from 2012 to 2017, the value decreased to Rs 804 per sq.ft, indicating a -33% change. The guideline value then rose dramatically to Rs 1,800 per sq.ft in 2023, a +124% increase, before reaching the current rate of Rs 1,980 per sq.ft in 2024, which is a +10% change.

Overall, from 2002 to 2024, the guideline value has increased by +1115%. Notably, there are no figures available for the revisions in years not listed above.

Guideline values in Paleripattu

Paleripattu village has a range of guideline values for its 111 streets under the Avadi SRO, with rates varying from Rs 801 to Rs 4,200 per sq.ft. The median guideline value in this area is Rs 990 per sq.ft, placing Lasar Nagar 2nd Street's 2024 figure above that median.

• Lasar Nagar 3rd Street: Rs 1,980 per sq.ft (2024)
• Lasar Nagar 1st 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 10th 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 2nd 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, charged at 7%, would amount to Rs 1,38,600, while the registration fee at 2% would be Rs 39,600. Together, the total cost for stamp duty and registration would be Rs 1,78,200. It is important to note that duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Lasar Nagar 2nd Street?

The Sub Registrar Office that covers Lasar Nagar 2nd 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 details.

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

The guideline value plays a crucial role in the registration process of property transactions in Paleripattu. It is used to determine the stamp duty and registration fees that need to be paid when a property is bought or sold. Buyers and sellers must be aware of the current guideline value to ensure accurate financial planning.

When registering a property, the guideline value is considered to ensure that the transaction reflects the official valuation set by the government. This helps maintain transparency and consistency in property transactions within the region.

Frequently asked questions

What is the current guideline value of Lasar Nagar 2nd Street?

The current guideline value of Lasar Nagar 2nd 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, marking an overall increase of +1115% over the years.

What is the land classification for Lasar Nagar 2nd Street?

Lasar Nagar 2nd Street is classified as Commercial Special Type - I under the Avadi SRO.

What are the stamp duty and registration fees for properties in Lasar Nagar 2nd Street?

The stamp duty is 7% of the guideline value, and the registration fee is 2%. For a 1,000 sq.ft property, the total cost for stamp duty and registration would be Rs 1,78,200.

Where is the Sub Registrar Office located for Lasar Nagar 2nd Street?

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