Guideline Value for LAUDERS GATE STREET

Lauders Gate Street guideline value

The current guideline value of Lauders Gate Street is Rs 6,500 per sq.ft as per the 2024 revision, effective from 1 July 2024. This street is located in Purasaivakkam village and falls under the Purasaivakkam SRO. The land classification for this area is Residential Class II Type - II.

How the guideline value of Lauders Gate Street has changed

The guideline value for Lauders Gate Street has seen several revisions over the years. In the 2007 revision, the value was Rs 2,600 per sq.ft, which increased significantly to Rs 6,000 per sq.ft in the 2012 revision. However, this figure dropped to Rs 4,020 per sq.ft in the 2017 revision. The 2023 revision marked a rise to Rs 6,000 per sq.ft, followed by the latest increase to Rs 6,500 per sq.ft in 2024, reflecting an 8% increase from the previous year.

Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 150%. Notably, there are no figures available for the revisions in 2002 and 2003 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 value is Rs 5,500 per sq.ft, and Lauders Gate Street's current value is above this median.

• Lauders Gate Lane: Rs 6,500 per sq.ft (2024)
• Lauders Gate 3rd Lane: 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 Street

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, 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.

You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Lauders Gate Street?

The Sub Registrar Office that covers Lauders Gate Street is the Purasaivakkam Sub Registrar Office, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012. You can find your SRO for further assistance.

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. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid when buying or selling property in the area.

When registering a property, the guideline value is considered to ensure that the transaction is recorded at a fair value, which helps in maintaining transparency in property dealings.

Frequently asked questions

What is the current guideline value of Lauders Gate Street?

The current guideline value of Lauders Gate Street 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 a significant increase over the years.

What are the stamp duty and registration fees for properties 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 covers this street?

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

What is the land classification for Lauders Gate Street?

The land classification for Lauders Gate Street is Residential Class II Type - II, indicating its suitability for residential development.