Guideline Value for LASURUS CHURCH ROAD

Lasurus Church Road guideline value

The current guideline value of Lasurus Church Road is Rs 8,800 per sq.ft, effective from 1 July 2024. This road is located in Mylapore village, under the Mylapore SRO, and is classified as Residential Class III Type - III.

How the guideline value of Lasurus Church Road has changed

Since the 2002 revision, the guideline value has seen significant changes. In 2002, the value was Rs 1,094 per sq.ft, which increased to Rs 1,603 per sq.ft in 2003, marking a rise of 47%. The next available revision was in 2012, where the value was Rs 8,000 per sq.ft, showing a remarkable increase of 399% from the 2003 figure. However, between 2012 and 2017, the value decreased by 33% to Rs 5,360 per sq.ft. The 2023 revision brought the value back up to Rs 8,000 per sq.ft, and in the latest 2024 revision, it further increased by 10% to Rs 8,800 per sq.ft.

Overall, from 2002 to 2024, the guideline value has increased by 704%. It is important to note that there is no figure available for the year 2007 in the register for this street.

Guideline values in Mylapore

Mylapore village has a total of 883 streets under the Mylapore SRO, with guideline values ranging from Rs 3,300 to Rs 25,800 per sq.ft. The median guideline value for the village in 2024 is Rs 8,800 per sq.ft, which is the same as the current value for Lasurus Church Road.

• Lasurus Church Road 1st Street: Rs 8,200 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

For a 1,000 sq.ft plot at the current guideline value of Rs 8,800 per sq.ft, the total guideline value would be Rs 88,00,000. The stamp duty at 7% would amount to Rs 6,16,000, and the registration fee at 2% would be Rs 1,76,000, bringing the total cost for these fees to Rs 7,92,000. It is important to note that duty is charged on the higher of the guideline value or the sale price.

For more information on calculating fees, you can use our stamp duty and registration fee calculator.

Which Sub Registrar Office covers Lasurus Church Road?

The Sub Registrar Office that covers Lasurus Church Road 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 details.

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

The guideline value is a crucial factor in property transactions in Mylapore, as it determines the minimum value at which a property can be registered. Buyers and sellers must consider the guideline value when negotiating the sale price, as the registration fees and stamp duty are calculated based on this value.

When a property is sold, the buyer typically pays the stamp duty and registration fees based on the guideline value or the agreed sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Lasurus Church Road?

The current guideline value of Lasurus Church Road is Rs 8,800 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 1,094 per sq.ft in 2002 to Rs 8,800 per sq.ft in 2024, reflecting an overall increase of 704% over the years.

What is the registration fee for properties in Lasurus Church Road?

The registration fee for properties in Lasurus Church Road is calculated at 2% of the guideline value. For example, for a property valued at Rs 88,00,000, the registration fee would be Rs 1,76,000.

Where can I find the Sub Registrar Office for Lasurus Church Road?

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

What is the stamp duty rate for properties in Lasurus Church Road?

The stamp duty rate for properties in Lasurus Church Road is 7% of the guideline value or the sale price, whichever is higher. For example, on a property valued at Rs 88,00,000, the stamp duty would amount to Rs 6,16,000.