Guideline Value for LAUDERS GATE 3RD LANE

Lauders Gate 3rd Lane guideline value

The current guideline value of Lauders Gate 3rd 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 3rd Lane has changed

The guideline value for Lauders Gate 3rd Lane has undergone several revisions over the years. In 2007, the value was Rs 2,600 per sq.ft, which increased significantly to Rs 6,000 per sq.ft in 2012. However, this figure saw a decline to Rs 4,020 per sq.ft in 2017. From 2017 to 2023, the value rose sharply by 49% to reach Rs 6,000 per sq.ft, and the latest revision in 2024 has set it at Rs 6,500 per sq.ft, marking an 8% increase from the previous year.

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

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, with a median value of Rs 5,500 per sq.ft. The guideline value of Rs 6,500 per sq.ft for Lauders Gate 3rd Lane is above this median.

• Lauders Gate 2nd Lane: Rs 6,500 per sq.ft (2024)
• Lauders Gate Lane: Rs 6,500 per sq.ft (2024)
• Lauders Gate 1st 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 3rd Lane

For a 1,000 sq.ft plot at the current rate of Rs 6,500 per sq.ft, the guideline value amounts to Rs 65,00,000. The stamp duty at 7% would be Rs 4,55,000, and the registration fee at 2% would be Rs 1,30,000, totaling Rs 5,85,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Lauders Gate 3rd Lane?

The Sub Registrar Office that covers Lauders Gate 3rd Lane is the Purasaivakkam Sub Registrar Office, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Purasaivakkam. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is sold, the guideline value is compared to the sale price, and the higher amount is used to calculate the applicable duties. This ensures that the government receives the appropriate revenue based on the property's value.

Frequently asked questions

What is the current guideline value of Lauders Gate 3rd Lane?

The current guideline value of Lauders Gate 3rd 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 this period.

What is the land classification for Lauders Gate 3rd Lane?

Lauders Gate 3rd Lane is classified as Residential Class II Type - II, which indicates its suitability for residential development.

Where can I find the Sub Registrar Office for Lauders Gate 3rd Lane?

The Sub Registrar Office for Lauders Gate 3rd Lane is the Purasaivakkam Sub Registrar Office, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012.

How is stamp duty calculated for properties in Purasaivakkam?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, if the guideline value is Rs 65,00,000, the stamp duty at 7% would be Rs 4,55,000.