Guideline Value for LASAR NAGAR 6TH STREET

Lasar Nagar 6th Street guideline value

The current guideline value of Lasar Nagar 6th 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 it falls under the land classification of Commercial Special Type - I.

How the guideline value of Lasar Nagar 6th Street has changed

The guideline value of Lasar Nagar 6th Street has undergone several revisions over the years. In 2002, the guideline value was Rs 163 per sq.ft. This increased to Rs 184 per sq.ft in 2003, marking a 13% rise. The value then saw a significant increase to Rs 300 per sq.ft in 2007, which was a 63% change. Following this, the guideline value jumped to Rs 1,200 per sq.ft in 2012, reflecting a 300% increase. However, it decreased to Rs 804 per sq.ft in 2017, a decline of 33%. The value then rose sharply to Rs 1,800 per sq.ft in 2023, representing a 124% increase. The most recent revision in 2024 set the value at Rs 1,980 per sq.ft, showing a 10% increase from the previous year.

The register has no figure for the years not mentioned in the revisions, ensuring that the changes reflect the official records accurately.

Guideline values in Paleripattu

Paleripattu village has 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 value for these streets is Rs 990 per sq.ft, and the guideline value for Lasar Nagar 6th Street is above this median.

• Lasar Nagar 5th Street: Rs 1,980 per sq.ft (2024)
• Lasar Nagar 7th Street: Rs 1,980 per sq.ft (2024)
• Lasar Nagar 4th Street: Rs 1,980 per sq.ft (2024)
• Lasar Nagar 8th Street: Rs 1,980 per sq.ft (2024)
• Lasar Nagar 3rd Street: Rs 1,980 per sq.ft (2024)
• Lasar Nagar 9th Street: Rs 1,980 per sq.ft (2024)

Stamp duty and registration fee for property in Lasar Nagar 6th Street

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 fees together to Rs 1,78,200. It is important to note that duty is charged on the higher of the guideline value or the sale price.

You can also use the stamp duty and registration fee calculator for more precise calculations.

Which Sub Registrar Office covers Lasar Nagar 6th Street?

The Sub Registrar Office that covers Lasar Nagar 6th Street is the Avadi Sub Registrar Office. The address is 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 in the registration process when buying or selling property in Paleripattu. It determines the minimum value at which a property can be registered, ensuring that the transaction is recorded accurately in the official records.

When a property is sold, the guideline value is used to calculate the stamp duty and registration fees. Buyers should be aware that these fees are based on the guideline value or the sale price, whichever is higher, ensuring transparency in property transactions.

Frequently asked questions

What is the current guideline value of Lasar Nagar 6th Street?

The current guideline value of Lasar Nagar 6th 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 various increases and one decrease over the years.

What is the land classification for Lasar Nagar 6th Street?

Lasar Nagar 6th Street is classified as Commercial Special Type - I, indicating its intended use for commercial activities.

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

The stamp duty is charged at 7% of the guideline value, while the registration fee is charged at 2%. These fees are calculated based on the higher of the guideline value or the sale price.

Where can I find the Sub Registrar Office for Lasar Nagar 6th Street?

The Sub Registrar Office for Lasar Nagar 6th 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.