Guideline Value for LAUDERS GATE 1ST LANE

Lauders Gate 1st Lane guideline value

The current guideline value of Lauders Gate 1st Lane is Rs 6,500 per sq.ft, effective from 1 July 2024. This street is located in Purasaivakkam village, under the Purasaivakkam SRO, and is classified as Residential Class II Type - II.

How the guideline value of Lauders Gate 1st Lane has changed

The guideline value for Lauders Gate 1st Lane has seen several revisions over the years. In 2007, the guideline value was Rs 2,600 per sq.ft, which increased to Rs 6,000 per sq.ft in 2012, marking a significant rise of 131%. However, it then dropped to Rs 4,020 per sq.ft in 2017, a decrease of 33%. The value further increased to Rs 6,000 per sq.ft in 2023, and now stands at Rs 6,500 per sq.ft as of the 2024 revision, reflecting an 8% increase from the previous year.

Overall, from 2007 to 2024, the guideline value has increased by 150%. Notably, there are no figures available for the years 2002 and 2003 in the register for this street.

Guideline values in Purasaivakkam

In Purasaivakkam, there are 519 streets under the Purasaivakkam SRO with a 2024 guideline value ranging from Rs 2,200 to Rs 18,100 per sq.ft. The median guideline value for these streets is Rs 5,500 per sq.ft, placing the 2024 figure for Lauders Gate 1st Lane above this median.

• Lauders Gate 2nd Lane: Rs 6,500 per sq.ft (2024)
• Lauders Gate 3rd Lane: Rs 6,500 per sq.ft (2024)
• Lauders Gate Lane: Rs 6,500 per sq.ft (2024)
• Lauders Gate Street: Rs 6,500 per sq.ft (2024)
• Letangs Road: Rs 12,100 per sq.ft (2024)
• Lakshmi Street: Rs 9,900 per sq.ft (2024)

Stamp duty and registration fee for property in Lauders Gate 1st Lane

For a 1,000 sq.ft plot at the current rate of Rs 6,500 per sq.ft, the guideline value would be Rs 65,00,000. The stamp duty at 7% would amount to Rs 4,55,000, and the registration fee at 2% would be Rs 1,30,000, making the total Rs 5,85,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Lauders Gate 1st Lane?

The Sub Registrar Office that covers Lauders Gate 1st Lane is the Purasaivakkam Sub Registrar Office, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012. To find your SRO, you can visit this link.

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

The guideline value is a crucial factor in property transactions in Purasaivakkam, as it determines the minimum value at which a property can be registered. When buying or selling property, the guideline value helps in calculating the stamp duty and registration fees that need to be paid at the time of registration.

It is essential for buyers and sellers to be aware of the current guideline value, as it influences the overall cost involved in property transactions. Ensuring that the property is valued correctly according to the guideline value can help avoid legal issues during the registration process.

Frequently asked questions

What is the current guideline value of Lauders Gate 1st Lane?

The current guideline value of Lauders Gate 1st Lane is Rs 6,500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,600 per sq.ft in 2007 to Rs 6,500 per sq.ft in 2024, reflecting an overall increase of 150% over the years.

What are the other streets with the same guideline value in Purasaivakkam?

Other streets in Purasaivakkam with the same guideline value of Rs 6,500 per sq.ft in 2024 include Lauders Gate 2nd Lane, Lauders Gate 3rd Lane, Lauders Gate Lane, and Lauders Gate Street.

What is the registration fee for properties in Lauders Gate 1st Lane?

The registration fee for properties in Lauders Gate 1st Lane is calculated at 2% of the guideline value. For example, for a property valued at Rs 65,00,000, the registration fee would be Rs 1,30,000.

Where can I find the Sub Registrar Office for Lauders Gate 1st Lane?

The Sub Registrar Office covering Lauders Gate 1st Lane is located at 93/1, Bricklin Road, Otteri, Chennai- 600 012. You can find more information about your SRO through the provided link.