Guideline Value for LASURUS CHURCH ROAD 3RD STREET

Lasurus Church Road 3rd Street guideline value

The current guideline value for Lasurus Church Road 3rd 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 3rd Street has changed

Since the 2002 revision, the guideline value for Lasurus Church Road 3rd Street has seen significant changes. In 2002, the value was Rs 872 per sq.ft, which increased to Rs 969 per sq.ft in 2003. The following revisions showed a steady rise, with the value reaching Rs 1,540 per sq.ft in 2007, and then experiencing a substantial jump to Rs 7,500 per sq.ft in 2012. However, it decreased to Rs 5,025 per sq.ft in 2017 before rising again to Rs 7,500 per sq.ft in 2023, and finally to the current value of Rs 8,200 per sq.ft in 2024.

Overall, from 2002 to 2024, the guideline value has increased by 840%. The changes between specific revisions include a rise of 49% from 2017 to 2023, a decrease of 33% from 2012 to 2017, and a remarkable increase of 387% from 2007 to 2012. The most recent change, from 2023 to 2024, reflects a 9% increase.

Guideline values in Mylapore

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

• Lasurus Church Road 2nd Street: Rs 8,200 per sq.ft (2024)
• Lasurus Church Road 1st Street: Rs 8,200 per sq.ft (2024)
• Lasurus Church Road: Rs 8,800 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 3rd Street

For a 1,000 sq.ft plot at the current guideline value of Rs 8,200 per sq.ft, the total guideline value amounts to Rs 82,00,000. The stamp duty at 7% would be Rs 5,74,000, and the registration fee at 2% would be Rs 1,64,000, bringing the total fees together to Rs 7,38,000. It is important to note that duty is charged on the guideline value or the sale price, whichever is higher. You can also use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Lasurus Church Road 3rd Street?

The Sub Registrar Office that covers Lasurus Church Road 3rd Street is the Mylapore Sub Registrar Office, located at No:5/9, Kavingar Bharathidasan Salai, Seethamalcolony, Crescent Street, Alwarpet, Chennai -600018. You can find your SRO for more information.

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

When buying or selling property in Mylapore, the guideline value is a crucial factor during the registration process. It serves as a benchmark for determining the stamp duty and registration fees, which are calculated based on this value or the sale price, whichever is higher.

Understanding the guideline value is essential for both buyers and sellers as it influences the overall cost involved in the transaction. It is advisable to check the latest revisions to ensure compliance with the current rates set by the Registration Department.

Frequently asked questions

What is the current guideline value of Lasurus Church Road 3rd Street?

The current guideline value of Lasurus Church Road 3rd Street is Rs 8,200 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 872 per sq.ft in 2002 to Rs 8,200 per sq.ft in 2024, reflecting an overall increase of 840% over this period.

What is the stamp duty on property in Lasurus Church Road 3rd Street?

The stamp duty for property in Lasurus Church Road 3rd Street is calculated at 7% of the guideline value or the sale price, whichever is higher.

Where is the Sub Registrar Office for Lasurus Church Road 3rd Street located?

The Sub Registrar Office for Lasurus Church Road 3rd Street is located at No:5/9, Kavingar Bharathidasan Salai, Seethamalcolony, Crescent Street, Alwarpet, Chennai -600018.

What is the land classification for Lasurus Church Road 3rd Street?

Lasurus Church Road 3rd Street is classified as Residential Class IV Type - I according to the Mylapore SRO guidelines.