Guideline Value for LASAR STREET

Lasar Street guideline value

The current guideline value of Lasar Street is Rs 4,620 per sq.ft, effective from 1 July 2024. This street is located in Ekkaduthangal village and falls under the Chennai South Joint I SRO. The land classification for this area is Residential Class II Type - I.

How the guideline value of Lasar Street has changed

The guideline value for Lasar Street has seen significant changes over the years. In 2002, the value was Rs 444 per sq.ft, which increased to Rs 512 per sq.ft in 2003, marking a 15% rise. The value then rose to Rs 1,000 per sq.ft in 2007, reflecting a substantial increase of 95%. By 2012, the value reached Rs 4,200 per sq.ft, which was a remarkable jump of 320% from the previous revision.

From 2012 to 2017, the guideline value decreased to Rs 2,814 per sq.ft, a decline of 33%. However, this was followed by a significant increase to Rs 4,200 per sq.ft in 2023, which represented a 49% rise. The current value of Rs 4,620 per sq.ft as of 2024 shows a 10% increase from the previous year. There are no figures available for the revisions in years other than those listed.

Guideline values in Ekkaduthangal

In Ekkaduthangal, there are 190 streets under the Chennai South Joint I SRO that have a 2024 guideline value ranging from Rs 3,080 to Rs 8,800 per sq.ft, with the median value being Rs 4,620 per sq.ft. Lasar Street's 2024 guideline value is equal to this median.

• Lakshmi Vinayagar Koil Street: Rs 4,620 per sq.ft (2024)
• Maansolai Nagar 1st Street: Rs 4,950 per sq.ft (2024)
• Maansolai Nagar 2nd Street: Rs 4,950 per sq.ft (2024)
• Madurai Meenakshi Amman St: Rs 3,080 per sq.ft (2024)
• Mancholai 1st Main Rd: Rs 4,950 per sq.ft (2024)
• Mancholai 2nd Main Rd: Rs 4,950 per sq.ft (2024)

Stamp duty and registration fee for property in Lasar Street

For a 1,000 sq.ft plot at the current guideline value of Rs 4,620 per sq.ft, the total guideline value amounts to Rs 46,20,000. The stamp duty at 7% would be Rs 3,23,400, and the registration fee at 2% would be Rs 92,400, totaling Rs 4,15,800. 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 more details.

Which Sub Registrar Office covers Lasar Street?

Lasar Street is covered by the Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Ekkaduthangal. It serves as a benchmark for determining 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 applicable stamp duty and registration fees. This ensures that both the buyer and seller are aware of the costs involved in the transaction, based on the established guideline value for the area.

Frequently asked questions

What is the current guideline value of Lasar Street?

The current guideline value of Lasar Street is Rs 4,620 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 444 per sq.ft in 2002 to Rs 4,620 per sq.ft in 2024, reflecting an overall increase of 941%.

What are the stamp duty and registration fees for Lasar Street?

For a 1,000 sq.ft property, the total guideline value is Rs 46,20,000, with a stamp duty of Rs 3,23,400 and a registration fee of Rs 92,400, totaling Rs 4,15,800.

Which Sub Registrar Office handles registrations for Lasar Street?

The Chennai South Joint I Sub Registrar Office handles registrations for Lasar Street, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035.

What is the land classification for Lasar Street?

The land classification for Lasar Street is Residential Class II Type - I, indicating its designation for residential purposes.