Guideline Value for LAUREL NAGAR

Laurel Nagar guideline value

The current guideline value of Laurel Nagar is Rs 101 per sq.ft, effective from 1 July 2024. This area is located in Kilakadi village and falls under the Salavakkam SRO. The land classification for this street is Residential Class I Type - II.

How the guideline value of Laurel Nagar has changed

The guideline value of Laurel Nagar has seen several revisions over the years. The 2012 revision set the value at Rs 100 per sq.ft, which remained unchanged until the 2017 revision, where it dropped to Rs 67 per sq.ft. Subsequently, the value increased significantly to Rs 100 per sq.ft in the 2023 revision, and now stands at Rs 101 per sq.ft following the 2024 revision, marking a 1% increase from the previous year.

Looking back further, there are no figures available for the revisions in 2002, 2003, and 2007 for this street. The increase from Rs 67 per sq.ft in 2017 to Rs 100 per sq.ft in 2023 represents a 49% rise, while the overall change from 2012 to 2024 is just a 1% increase, reflecting the fluctuations in the guideline value over the years.

Guideline values in Kilakadi

In Kilakadi, there are 21 streets under the Salavakkam SRO that carry a 2024 guideline value ranging from Rs 100 to Rs 433 per sq.ft. The median value for these streets is Rs 150 per sq.ft, indicating that Laurel Nagar's current value of Rs 101 per sq.ft is below this median.

• Mari Amman Kovil Street: Rs 100 per sq.ft (2024)
• Marudham Nagar: Rs 101 per sq.ft (2024)
• Marudham Nagar Extension: Rs 101 per sq.ft (2024)
• Mullai Nagar: Rs 101 per sq.ft (2024)
• Mullai Nagar Extension: Rs 101 per sq.ft (2024)
• Nila Nagar: Rs 101 per sq.ft (2024)

Stamp duty and registration fee for property in Laurel Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 101 per sq.ft, the total guideline value would be Rs 1,01,000. The stamp duty at 7% would amount to Rs 7,070, while the registration fee at 2% would be Rs 2,020, leading to a total of Rs 9,090. 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 Laurel Nagar?

The Sub Registrar Office that covers Laurel Nagar is the Salavakkam Sub Registrar Office, located at 2/1a, Thottakkara Street, Salavakkam, 603 107, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role during the registration process of property transactions in Kilakadi. It is used to determine the stamp duty and registration fees that buyers must pay when acquiring property in this area.

When a property is sold, the guideline value is considered to ensure that the transaction is recorded accurately. Buyers should be aware that the duty is calculated based on the higher amount between the guideline value and the sale price, ensuring compliance with local regulations.

Frequently asked questions

What is the current guideline value of Laurel Nagar?

The current guideline value of Laurel Nagar is Rs 101 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 100 per sq.ft in 2012 to Rs 67 per sq.ft in 2017, then rising to Rs 100 per sq.ft in 2023, and finally to Rs 101 per sq.ft in 2024.

What is the land classification for Laurel Nagar?

Laurel Nagar is classified as Residential Class I Type - II, indicating its designation for residential purposes.

What are the registration fees for property in Laurel Nagar?

For a property valued at Rs 1,01,000, the stamp duty would be Rs 7,070 and the registration fee would be Rs 2,020, totaling Rs 9,090.

Which office handles property registrations for Laurel Nagar?

The Salavakkam Sub Registrar Office handles property registrations for Laurel Nagar, located at 2/1a, Thottakkara Street, Salavakkam, 603 107, Chengalpattu registration zone.