Guideline Value for LAUDERS GATE 2ND LANE

Lauders Gate 2nd Lane guideline value

The current guideline value of Lauders Gate 2nd 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 2nd Lane has changed

The guideline value for Lauders Gate 2nd Lane has seen several revisions over the years. In 2007, the guideline value was Rs 2,600 per sq.ft, which increased significantly to Rs 6,000 per sq.ft in 2012. However, the value experienced a decrease to Rs 4,020 per sq.ft in 2017. The subsequent revision in 2023 raised the value to Rs 6,000 per sq.ft, and the most recent revision in 2024 has set it at Rs 6,500 per sq.ft, marking an increase of 8% from the previous year.

Overall, from 2007 to 2024, the guideline value has increased by 150%. The revisions for the years 2002 and 2003 do not have figures listed for this street in the register.

Guideline values in Purasaivakkam

In Purasaivakkam, there are 519 streets under the Purasaivakkam SRO that carry 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 Lauders Gate 2nd Lane above this median.

• Lauders Gate 1st 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 2nd Lane

For a 1,000 sq.ft plot at the current guideline value of Rs 6,500 per sq.ft, the total 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, bringing the total cost for these fees to 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. For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Lauders Gate 2nd Lane?

The Sub Registrar Office that covers Lauders Gate 2nd Lane is the Purasaivakkam Sub Registrar Office, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012. You can find your SRO for more details.

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

The guideline value plays a crucial role in the registration process of property transactions in Purasaivakkam. It is used to determine the stamp duty and registration fees that need to be paid when buying or selling property. This ensures that the transaction is recorded accurately in accordance with the prevailing regulations.

When a property is sold, the guideline value is compared with the sale price, and the higher of the two is used to calculate the applicable fees. This helps maintain transparency and consistency in property transactions within the region.

Frequently asked questions

What is the current guideline value of Lauders Gate 2nd Lane?

The current guideline value of Lauders Gate 2nd 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, showing an overall increase of 150% over the years.

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

For a property valued at Rs 65,00,000, the stamp duty would be Rs 4,55,000 and the registration fee would be Rs 1,30,000, totaling Rs 5,85,000.

Which Sub Registrar Office is responsible for Lauders Gate 2nd Lane?

The Purasaivakkam Sub Registrar Office, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012, covers Lauders Gate 2nd Lane.

What is the median guideline value in Purasaivakkam?

The median guideline value for streets in Purasaivakkam is Rs 5,500 per sq.ft, with Lauders Gate 2nd Lane being above this median at Rs 6,500 per sq.ft.