Guideline Value for LIC Colony 6th Street

LIC Colony 6th Street guideline value

The current guideline value of LIC Colony 6th 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 6th Street has changed

The guideline value for LIC Colony 6th 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, this value rose dramatically to Rs 1,541 per sq.ft, reflecting a substantial increase of +263%. The 2023 revision set the value at Rs 2,300 per sq.ft, which was a +49% increase from the previous figure. The most recent revision in 2024 saw the guideline value rise to Rs 2,530 per sq.ft, a change of +10% from 2023.

It is important to note that there are no figures available for the years 2002 and 2012 in the register 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 registered under the Pammal SRO, with guideline values for 2024 ranging from Rs 1,320 to Rs 4,640 per sq.ft. The median guideline value in this area is Rs 1,980 per sq.ft, positioning LIC Colony 6th Street's 2024 figure above that median.

• LIC Colony 5th Street: Rs 2,530 per sq.ft (2024)
• LIC Colony 7th Street: Rs 2,530 per sq.ft (2024)
• L.I.C Colony Kothandapani Street: Rs 2,530 per sq.ft (2024)
• LIC Colony 4th Street: Rs 2,530 per sq.ft (2024)
• L.I.C Colony Meelamegam Street: Rs 2,530 per sq.ft (2024)
• LIC Colony 3rd Street: Rs 2,530 per sq.ft (2024)

Stamp duty and registration fee for property in LIC Colony 6th 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 and the sale price.

For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers LIC Colony 6th Street?

The Sub Registrar Office that covers LIC Colony 6th 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 is a crucial factor in the registration process when buying or selling property in Anakaputhur. It serves as a benchmark for determining the stamp duty and registration fees that must be paid during the transaction.

Frequently asked questions

What is the current guideline value of LIC Colony 6th Street?

The current guideline value of LIC Colony 6th Street is Rs 2,530 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has changed significantly 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 stamp duty and registration fees for property in LIC Colony 6th Street?

For a 1,000 sq.ft plot, the total guideline value is Rs 25,30,000, leading to a stamp duty of Rs 1,77,100 and a registration fee of Rs 50,600, totaling Rs 2,27,700.

Which office handles registrations for LIC Colony 6th Street?

The Pammal Sub Registrar Office is responsible for registrations in LIC Colony 6th Street, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075.

How is the guideline value determined for properties in Anakaputhur?

The guideline value is determined by the Registration Department and is based on various factors, including land classification and market trends, to ensure fair registration practices.