Guideline Value for LIC Colony 5th Street

LIC Colony 5th Street guideline value

The current guideline value of LIC Colony 5th 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 it falls under the Commercial Class I Type - II land classification.

How the guideline value of LIC Colony 5th Street has changed

The guideline value for LIC Colony 5th 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 surged to Rs 1,541 per sq.ft, reflecting an impressive increase of +263%. The 2023 revision set the guideline value at Rs 2,300 per sq.ft, an increase of +49% from the previous figure.

The most recent revision in 2024 raised the guideline value to Rs 2,530 per sq.ft, a change of +10% from 2023. The register does not have figures for the years 2002 and 2012 for this street.

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 of LIC Colony 5th Street is above this median, indicating its higher valuation compared to many other streets in the village.

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

Stamp duty and registration fee for property in LIC Colony 5th 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 amount to Rs 1,77,100, and the registration fee at 2% would be Rs 50,600, bringing the total fees together to Rs 2,27,700. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use the stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers LIC Colony 5th Street?

LIC Colony 5th Street falls under 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 details.

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

The guideline value is a crucial factor when registering property in Anakaputhur. It serves as a benchmark for determining the minimum sale price of a property, ensuring that the transaction is recorded at a fair value.

During the registration process, the guideline value is used to calculate the applicable stamp duty and registration fees. Buyers and sellers must be aware of these values to ensure compliance with local regulations during property transactions.

Frequently asked questions

What is the current guideline value of LIC Colony 5th Street?

The current guideline value of LIC Colony 5th 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, reflecting an overall increase of +1050% over this period.

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

Several other streets in Anakaputhur also have a guideline value of Rs 2,530 per sq.ft as of 2024, including LIC Colony 4th, 6th, 3rd, 7th, 2nd Streets, and L.I.C Colony Kothandapani Street.

Where is the Pammal Sub Registrar Office located?

The Pammal Sub Registrar Office is located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, in the Chengalpattu registration zone.

How is the stamp duty calculated for properties in LIC Colony 5th Street?

Stamp duty for properties in LIC Colony 5th Street is calculated based on the higher of the guideline value or the sale price. For example, a property valued at Rs 25,30,000 would incur a stamp duty of Rs 1,77,100 at a rate of 7%.