Guideline Value for LASURUS CHURCH ROAD 1ST STREET

Lasurus Church Road 1st Street guideline value

The current guideline value of Lasurus Church Road 1st Street is Rs 8,200 per sq.ft, effective from 1 July 2024. This street is located in Mylapore village, under the Mylapore SRO, and is classified as Residential Class IV Type - I.

How the guideline value of Lasurus Church Road 1st Street has changed

The guideline value for Lasurus Church Road 1st Street has undergone several revisions over the years. The earliest recorded revision in 2007 set the value at Rs 1,540 per sq.ft, which increased significantly to Rs 7,500 per sq.ft in 2012, marking a rise of 387%. However, from 2012 to 2017, the value decreased by 33% to Rs 5,025 per sq.ft. The most recent revision in 2024 has seen the guideline value rise to Rs 8,200 per sq.ft, reflecting an increase of 63% from the 2017 figure.

It is worth noting that the register has no figures for the years 2002, 2003, and 2023 for this street. Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 432%.

Guideline values in Mylapore

In Mylapore village, there are 883 streets under the Mylapore SRO with a 2024 guideline value ranging from Rs 3,300 to Rs 25,800 per sq.ft. The median value for these streets is Rs 8,800 per sq.ft, placing Lasurus Church Road 1st Street's 2024 figure below that median.

• Lasurus Church Road: Rs 8,800 per sq.ft (2024)
• Lasurus Church Road 2nd Street: Rs 8,200 per sq.ft (2024)
• Lasurus Church Road 3rd Street: Rs 8,200 per sq.ft (2024)
• Lambath Avenue: Rs 8,200 per sq.ft (2024)
• Lalithapuram: Rs 8,200 per sq.ft (2024)
• Lalitha Nagar 3rd Street: Rs 8,200 per sq.ft (2024)

Stamp duty and registration fee for property in Lasurus Church Road 1st Street

For a 1,000 sq.ft plot at the current guideline value of Rs 8,200 per sq.ft, the total guideline value would be Rs 82,00,000. The stamp duty at 7% would amount to Rs 5,74,000, while the registration fee at 2% would be Rs 1,64,000. Together, the total cost for these fees would be Rs 7,38,000. 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 detailed calculations.

Which Sub Registrar Office covers Lasurus Church Road 1st Street?

The Sub Registrar Office that covers Lasurus Church Road 1st Street is the Mylapore Sub Registrar Office, located at No:5/9, Kavingar Bharathidasan Salai, Seethamalcolony, Crescent Street, Alwarpet, Chennai - 600018. To find your SRO, you can visit find your SRO.

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

The guideline value is an essential factor during the registration of property transactions in Mylapore. It serves as a benchmark for calculating stamp duty and registration fees, which are mandatory for legal property transfers.

When buying or selling property in Mylapore, it is crucial to be aware of the guideline value, as it impacts the overall cost of the transaction. Buyers should ensure that they are informed about the current guideline values to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Lasurus Church Road 1st Street?

The current guideline value of Lasurus Church Road 1st Street is Rs 8,200 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

Since 2007, the guideline value has increased from Rs 1,540 per sq.ft to Rs 8,200 per sq.ft in 2024, representing an overall increase of 432%.

What is the land classification for Lasurus Church Road 1st Street?

Lasurus Church Road 1st Street is classified as Residential Class IV Type - I.

Where can I find the Mylapore Sub Registrar Office?

The Mylapore Sub Registrar Office is located at No:5/9, Kavingar Bharathidasan Salai, Seethamalcolony, Crescent Street, Alwarpet, Chennai - 600018.

How is stamp duty calculated for properties in Mylapore?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, on a property valued at Rs 82,00,000, the stamp duty would be Rs 5,74,000 at a rate of 7%.