Guideline Value for LIC Colony 3rd Street

LIC Colony 3rd Street guideline value

The current guideline value of LIC Colony 3rd Street, located in Anakaputhur village under the Pammal SRO, is Rs 2,530 per sq.ft, effective from 1 July 2024. This street falls under the Commercial Class I Type - II land classification.

How the guideline value of LIC Colony 3rd Street has changed

The guideline value for LIC Colony 3rd 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 93% rise. By 2017, the value further escalated to Rs 1,541 per sq.ft, reflecting an impressive increase of 263%. The 2023 revision set the value at Rs 2,300 per sq.ft, a 49% increase from the previous revision. The current guideline value, effective from 2024, is Rs 2,530 per sq.ft, which is a 10% increase from 2023.

It is important to note that the register does not have figures for LIC Colony 3rd Street for the years 2002 and 2012. 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, with a median value of Rs 1,980 per sq.ft. The guideline value for LIC Colony 3rd Street is above this median.

• LIC Colony 1st Street: Rs 2,530 per sq.ft (2024)
• LIC Colony 2nd 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 3rd Street

For a 1,000 sq.ft plot at the current rate of Rs 2,530 per sq.ft, the guideline value amounts to 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, totaling Rs 2,27,700. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers LIC Colony 3rd Street?

The Sub Registrar Office that covers LIC Colony 3rd Street is the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, in the 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 plays a crucial role in the registration process when buying or selling property in Anakaputhur. It is used to calculate the stamp duty and registration fees, ensuring that the transaction is recorded accurately in the official records.

When a property is sold, the guideline value is often referenced to determine the appropriate fees, and it serves as a benchmark for the transaction. Buyers and sellers should be aware of the current guideline value to ensure compliance with local regulations.

Frequently asked questions

What is the current guideline value of LIC Colony 3rd Street?

The current guideline value of LIC Colony 3rd 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 significantly from Rs 220 per sq.ft in 2003 to Rs 2,530 per sq.ft in 2024, reflecting a total increase of 1050% over the years.

What are the stamp duty and registration fees for property in LIC Colony 3rd Street?

For a 1,000 sq.ft plot, the total stamp duty and registration fees would amount to Rs 2,27,700, based on the current guideline value of Rs 25,30,000.

Which Sub Registrar Office covers LIC Colony 3rd Street?

The Pammal Sub Registrar Office covers LIC Colony 3rd Street, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075.

What is the land classification for LIC Colony 3rd Street?

LIC Colony 3rd Street is classified under Commercial Class I Type - II, indicating its suitability for commercial activities.