Guideline Value for LODIKHAN ROAD

Lodikhan Road guideline value

The current guideline value of Lodikhan Road is Rs 7,700 per sq.ft, effective from 1 July 2024. This road is located in Tnagar village, under the Thiyagaraya nagar SRO, and is classified as Residential Class II Type - II.

How the guideline value of Lodikhan Road has changed

The guideline value for Lodikhan Road has seen significant changes over the years. The earliest recorded value is from 2003, which was Rs 1,883 per sq.ft. Following this, the value increased to Rs 4,000 per sq.ft in 2007, marking a 112% rise. In 2012, the value changed to Rs 7,000 per sq.ft, reflecting a 75% increase from the previous revision. However, in 2017, the value dropped to Rs 4,690 per sq.ft, a decrease of 33%. The value then increased to Rs 7,000 per sq.ft in 2023, before reaching the current value of Rs 7,700 per sq.ft in 2024, which is a 10% increase.

Overall, from 2003 to 2024, the guideline value has increased by 309%. It is important to note that there is no figure available for Lodikhan Road in the 2002 revision.

Guideline values in Tnagar

In Tnagar, there are 262 streets under the Thiyagaraya nagar SRO that carry a 2024 guideline value, ranging from Rs 4,400 to Rs 27,500 per sq.ft. The median guideline value for these streets is Rs 11,000 per sq.ft, placing Lodikhan Road's current value below this median.

• Madley 2nd Street: Rs 8,800 per sq.ft (2024)
• Madley 3rd Street: Rs 8,800 per sq.ft (2024)
• Madley Ist Street: Rs 8,800 per sq.ft (2024)
• Madley Road: Rs 17,600 per sq.ft (2024)
• Lala Garden: Rs 11,000 per sq.ft (2024)
• Madurai Veeran Koil Street: Rs 6,600 per sq.ft (2024)

Stamp duty and registration fee for property in Lodikhan Road

For a 1,000 sq.ft plot at the current guideline value of Rs 7,700 per sq.ft, the total guideline value amounts to Rs 77,00,000. The stamp duty at 7% would be Rs 5,39,000, and the registration fee at 2% would be Rs 1,54,000, bringing the total to Rs 6,93,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Lodikhan Road?

The Sub Registrar Office that covers Lodikhan Road is the Thiyagaraya nagar Sub Registrar Office, located at 27/14, Vetnari Hospital Road, Panpet Nandhanam, Chennai-35. You can find your SRO for more information.

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

The guideline value is a crucial factor when buying or selling property in Tnagar. It serves as a reference point for determining the stamp duty and registration fees applicable during the transaction. Buyers must be aware that the guideline value can influence the overall costs associated with property transactions.

When registering a property, the guideline value is compared to the sale price, and the higher amount is used to calculate the applicable duties and fees. This ensures that the registration process aligns with the official valuation set by the authorities.

Frequently asked questions

What is the current guideline value of Lodikhan Road?

The current guideline value of Lodikhan Road is Rs 7,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly, from Rs 1,883 per sq.ft in 2003 to Rs 7,700 per sq.ft in 2024, reflecting an overall increase of 309%.

What is the land classification of Lodikhan Road?

Lodikhan Road is classified as Residential Class II Type - II.

Where can I find the registration office for Lodikhan Road?

The registration office for Lodikhan Road is the Thiyagaraya nagar Sub Registrar Office, located at 27/14, Vetnari Hospital Road, Panpet Nandhanam, Chennai-35.

How is stamp duty calculated for properties on Lodikhan Road?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 77,00,000, the stamp duty at 7% would be Rs 5,39,000.