Guideline Value for LIC Colony 1st Street

LIC Colony 1st Street guideline value

The current guideline value for LIC Colony 1st Street is Rs 2,530 per sq.ft, effective from 1 July 2024. This street is located in Anakaputhur village, under the Pammal SRO, and is classified as Commercial Class I Type - II.

How the guideline value of LIC Colony 1st Street has changed

The guideline value for LIC Colony 1st Street has seen significant changes over the years. In 2003, the guideline value was Rs 220 per sq.ft, which increased to Rs 425 per sq.ft in 2007, marking a change of +93%. By 2017, the value rose dramatically to Rs 1,541 per sq.ft, reflecting an increase of +263%. The 2023 revision set the value at Rs 2,300 per sq.ft, a +49% change from the previous revision. The current guideline value for 2024 is Rs 2,530 per sq.ft, which is a +10% increase from 2023.

It is important to note that the register has no figures for the years 2002 and 2012 for this street. Overall, from 2003 to 2024, the guideline value has increased by +1050%.

Guideline values in Anakaputhur

In Anakaputhur, there are 501 streets under the Pammal SRO that carry a 2024 guideline value, ranging from Rs 1,320 to Rs 4,640 per sq.ft. The median value for these streets is Rs 1,980 per sq.ft, making the current value for LIC Colony 1st Street above the median.

• LIC Colony 2nd Street: Rs 2,530 per sq.ft (2024)
• LIC Colony 3rd Street: Rs 2,530 per sq.ft (2024)
• LIC Colony 4th Street: Rs 2,530 per sq.ft (2024)
• LIC Colony 5th Street: Rs 2,530 per sq.ft (2024)
• LIC Colony 6th Street: Rs 2,530 per sq.ft (2024)
• LIC Colony 7th Street: Rs 2,530 per sq.ft (2024)

Stamp duty and registration fee for property in LIC Colony 1st Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,530 per sq.ft, the total guideline value would be Rs 25,30,000. The stamp duty at 7% would be Rs 1,77,100, and the registration fee at 2% would be Rs 50,600, bringing the total charges to Rs 2,27,700. It is important to note that duty is charged on the higher of the guideline value and the sale price. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers LIC Colony 1st Street?

The LIC Colony 1st Street falls under the jurisdiction of the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is an essential component in the registration process for property transactions in Anakaputhur. It serves as a benchmark for determining the stamp duty and registration fees that must be paid when buying or selling property.

When a property is sold, the guideline value helps ensure that the transaction is recorded accurately, reflecting the value of the property as per the government's assessment. This value is crucial for both buyers and sellers to understand the financial obligations involved in the registration process.

Frequently asked questions

What is the current guideline value of LIC Colony 1st Street?

The current guideline value of LIC Colony 1st Street is Rs 2,530 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 220 per sq.ft in 2003 to Rs 2,530 per sq.ft in 2024, showing an overall increase of +1050% over this period.

What are the other streets in Anakaputhur with the same guideline value?

Other streets in Anakaputhur that share the same guideline value of Rs 2,530 per sq.ft include LIC Colony 2nd Street, LIC Colony 3rd Street, LIC Colony 4th Street, LIC Colony 5th Street, LIC Colony 6th Street, and LIC Colony 7th Street.

What are the stamp duty and registration fees for property in LIC Colony 1st Street?

For a 1,000 sq.ft plot, the stamp duty would be Rs 1,77,100, and the registration fee would be Rs 50,600, totaling Rs 2,27,700 based on the current guideline value.

Which office handles the registration for LIC Colony 1st Street?

The registration for LIC Colony 1st Street is handled by the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075.