Guideline Value for LATTICE BRIDGE ROAD (EXCEPT B NO.444)DR.MUTHULAKSHMI ROAD

Lattice Bridge Road (Except B No.444)dr.Muthulakshmi Road guideline value

The current guideline value of Lattice Bridge Road (Except B No.444)dr.Muthulakshmi Road is Rs 12,650 per sq.ft, effective from 1 July 2024. This road is located in Thiruvanmiyur village and falls under the Chennai South Joint I SRO. The land classification for this area is Residential Special Type - I.

How the guideline value of Lattice Bridge Road (Except B No.444)dr.Muthulakshmi Road has changed

The guideline value has undergone several revisions over the years. In 2012, the value was Rs 11,500 per sq.ft, which decreased to Rs 7,705 per sq.ft in 2017, marking a decline of 33%. However, from 2017 to 2023, the value increased significantly to Rs 11,500 per sq.ft, reflecting a 49% rise. The most recent revision in 2024 set the value at Rs 12,650 per sq.ft, which is a 10% increase from the 2023 figure.

It is important to note that there are no registered figures for Lattice Bridge Road (Except B No.444)dr.Muthulakshmi Road for the years 2002, 2003, and 2007. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Thiruvanmiyur

In Thiruvanmiyur, there are 484 streets under the Chennai South Joint I SRO with guideline values for 2024 ranging from Rs 3,520 to Rs 12,660 per sq.ft. The median guideline value for these streets is Rs 9,900 per sq.ft, placing Lattice Bridge Road (Except B No.444)dr.Muthulakshmi Road above this median.

• Lattice Bridge Road (D.No. 150 & P.No.444 Only): Rs 12,650 per sq.ft (2024)
• L.B. Link Road: Rs 12,660 per sq.ft (2024)
• L.B. Road 1st Street: Rs 12,660 per sq.ft (2024)
• L.B. Road 2nd Road: Rs 12,660 per sq.ft (2024)
• L.B. Road 3rd Avenue: Rs 12,660 per sq.ft (2024)
• L.B. Road 3rd Street: Rs 12,660 per sq.ft (2024)

Stamp duty and registration fee for property in Lattice Bridge Road (Except B No.444)dr.Muthulakshmi Road

For a 1,000 sq.ft plot at the current guideline value of Rs 12,650 per sq.ft, the total guideline value amounts to Rs 1,26,50,000. The stamp duty at 7% would be Rs 8,85,500, and the registration fee at 2% would be Rs 2,53,000, bringing the total fees to Rs 11,38,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Lattice Bridge Road (Except B No.444)dr.Muthulakshmi Road?

The Sub Registrar Office that covers Lattice Bridge Road (Except B No.444)dr.Muthulakshmi Road is 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 Thiruvanmiyur

The guideline value is a critical factor in property transactions in Thiruvanmiyur. It is used to determine the minimum value at which a property can be registered. Buyers and sellers must consider this value when negotiating sale prices, as it directly affects the stamp duty and registration fees applicable to the transaction.

When a property is sold, the guideline value is assessed to ensure that the transaction is recorded accurately. The registration office uses this value to calculate the necessary fees, which are based on the higher of the guideline value or the sale price. This ensures that all transactions comply with the legal requirements set forth by the registration department.

Frequently asked questions

What is the current guideline value of Lattice Bridge Road (Except B No.444)dr.Muthulakshmi Road?

The current guideline value of Lattice Bridge Road (Except B No.444)dr.Muthulakshmi Road is Rs 12,650 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen several changes, increasing from Rs 11,500 per sq.ft in 2012 to Rs 7,705 per sq.ft in 2017, then rising again to Rs 11,500 per sq.ft in 2023, and finally reaching Rs 12,650 per sq.ft in 2024.

What are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 1,26,50,000, the stamp duty would be Rs 8,85,500, and the registration fee would be Rs 2,53,000, totaling Rs 11,38,500. These fees are calculated based on the guideline value or the sale price, whichever is higher.

Which office handles registrations for Lattice Bridge Road?

The Chennai South Joint I Sub Registrar Office handles registrations for Lattice Bridge Road (Except B No.444)dr.Muthulakshmi Road, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035.

What is the land classification for this area?

The land classification for Lattice Bridge Road (Except B No.444)dr.Muthulakshmi Road is Residential Special Type - I, indicating its suitability for residential development.