Guideline Value for LAUDERS GATE LANE

Lauders Gate Lane guideline value

The current guideline value of Lauders Gate 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 it falls under the Residential Class II Type - II land classification.

How the guideline value of Lauders Gate Lane has changed

The guideline value for Lauders Gate Lane has undergone several revisions over the years. In the 2007 revision, the value was set at Rs 2,600 per sq.ft. This increased significantly to Rs 6,000 per sq.ft in the 2012 revision, before dropping to Rs 4,020 per sq.ft in 2017. The 2023 revision saw the value rise to Rs 6,000 per sq.ft, and the most recent 2024 revision has increased it to Rs 6,500 per sq.ft. The register has no figures for the years 2002 and 2003 for this street.

From 2017 to 2023, the guideline value increased by 49%. The change from 2023 to 2024 represents an 8% increase. The overall change from 2007 to 2024 shows a substantial increase of 150% in the guideline value.

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 is Rs 5,500 per sq.ft, and Lauders Gate Lane's 2024 figure is above this median.

• Lauders Gate 3rd Lane: Rs 6,500 per sq.ft (2024)
• Lauders Gate Street: Rs 6,500 per sq.ft (2024)
• Lauders Gate 2nd Lane: Rs 6,500 per sq.ft (2024)
• Lauders Gate 1st Lane: 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 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. Together, the total cost for these fees would be 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 more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Lauders Gate Lane?

The Sub Registrar Office that covers Lauders Gate 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 is a critical factor in the registration process for property transactions in Purasaivakkam. It serves as the basis for calculating stamp duty and registration fees, ensuring that these costs are aligned with the official valuation of the property.

When buying or selling property, it is essential to be aware of the current guideline value, as it can impact the overall transaction costs. Buyers should ensure that they are prepared for these expenses, which are determined by the guideline value or the sale price, whichever is higher.

Frequently asked questions

What is the current guideline value of Lauders Gate Lane?

The current guideline value of Lauders Gate 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 other streets in Purasaivakkam with similar values?

Other streets in Purasaivakkam with a guideline value of Rs 6,500 per sq.ft in 2024 include Lauders Gate 3rd Lane, Lauders Gate Street, Lauders Gate 2nd Lane, and Lauders Gate 1st Lane.

What fees are associated with buying property in Lauders Gate Lane?

The fees associated with buying property include a stamp duty of 7% and a registration fee of 2% based on the guideline value or the sale price, whichever is higher.

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

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