Guideline Value for LSS Nagar

LSS Nagar guideline value

The current guideline value of LSS Nagar, located in Puthur village under the Tambaram Joint 1 SRO, is Rs 770 per sq.ft, effective from 1 July 2024. This area is classified as Residential Class I Type - I.

How the guideline value of LSS Nagar has changed

The guideline value for LSS Nagar has seen several revisions over the years. The earliest recorded figure is from 2012, set at Rs 700 per sq.ft. This was followed by a decrease to Rs 469 per sq.ft in 2017. The 2023 revision brought the value back up to Rs 700 per sq.ft, and the most recent revision in 2024 increased it to Rs 770 per sq.ft, marking a 10% rise from the previous year.

Between the 2017 and 2023 revisions, the guideline value increased significantly by 49%. Overall, from 2012 to 2024, the guideline value has seen a modest increase of 10%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Puthur

Puthur village has a total of 63 streets under the Tambaram Joint 1 SRO, with guideline values ranging from Rs 330 to Rs 4,600 per sq.ft. The median value for these streets is Rs 1,100 per sq.ft, indicating that LSS Nagar's 2024 figure is below this median.

• Mahalakshmi Nagar: Rs 770 per sq.ft (2024)
• Kavina Garden: Rs 1,650 per sq.ft (2024)
• M.K Avenue: Rs 770 per sq.ft (2024)
• Mohan Avenue Phase I: Rs 550 per sq.ft (2024)
• M.S Garden: Rs 550 per sq.ft (2024)
• Murugan Avenue Phase I: Rs 1,100 per sq.ft (2024)

Stamp duty and registration fee for property in LSS Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 770 per sq.ft, the total guideline value would be Rs 7,70,000. The stamp duty at 7% would amount to Rs 53,900, and the registration fee at 2% would be Rs 15,400, bringing the total charges to Rs 69,300. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers LSS Nagar?

LSS Nagar falls under the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059, 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 Puthur

The guideline value plays a crucial role in the registration process when buying or selling property in Puthur. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction. Buyers and sellers must be aware of the current guideline value to ensure compliance with legal requirements.

When a property is registered, the guideline value is used to calculate the applicable charges, ensuring that both parties are aware of their financial obligations. This helps maintain transparency in property transactions within the region.

Frequently asked questions

What is the current guideline value of LSS Nagar?

The current guideline value of LSS Nagar is Rs 770 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 700 in 2012 to Rs 469 in 2017, then back to Rs 700 in 2023, and finally to Rs 770 in 2024. The overall change from 2012 to 2024 is an increase of 10%.

What are the stamp duty and registration fees for a property in LSS Nagar?

For a 1,000 sq.ft property, the total guideline value is Rs 7,70,000. The stamp duty would be Rs 53,900, and the registration fee would be Rs 15,400, totaling Rs 69,300.

Which office handles property registration for LSS Nagar?

The Tambaram Joint 1 Sub Registrar Office handles property registration for LSS Nagar. It is located at No.26, Mes Road, East Tambaram, Chennai-600059.

What is the land classification of LSS Nagar?

LSS Nagar is classified as Residential Class I Type - I, indicating its suitability for residential development.