Guideline Value for LUCKY STAR CITY

Lucky Star City guideline value

The current guideline value of Lucky Star City is Rs 250 per sq.ft, effective from 1 July 2024. This area is located in Medur village under the Ponneri SRO, and it falls under the Residential Class I Type - I land classification.

How the guideline value of Lucky Star City has changed

The guideline value for Lucky Star City has seen several revisions over the years. The 2017 revision recorded a value of Rs 167 per sq.ft, which increased by 50% to Rs 250 per sq.ft in the 2023 revision. The 2024 revision maintained this value at Rs 250 per sq.ft, showing no change from the previous year.

It is important to note that there are no figures available for the revisions in the years 2002, 2003, 2007, and 2012 for this street. Overall, from the 2017 revision to the 2024 revision, the guideline value has increased by 50%.

Guideline values in Medur

In Medur, there are six streets under the Ponneri SRO that carry a 2024 guideline value, ranging from Rs 200 to Rs 450 per sq.ft. The median guideline value for these streets is Rs 225 per sq.ft, placing Lucky Star City above this median value.

• Mani Naidu Garden: Rs 450 per sq.ft (2024)
• New Bhairavi Garden: Rs 200 per sq.ft (2024)
• Royal Green city Phase -III: Rs 200 per sq.ft (2024)
• A.R.Garden: Rs 200 per sq.ft (2024)
• Thirumagal Nagar: Rs 250 per sq.ft (2024)

Stamp duty and registration fee for property in Lucky Star City

For a 1,000 sq.ft plot at the current guideline value of Rs 250 per sq.ft, the total guideline value amounts to Rs 2,50,000. The stamp duty is charged at 7%, resulting in Rs 17,500, while the registration fee is 2%, amounting to Rs 5,000. Together, the total cost for stamp duty and registration fee is Rs 22,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Lucky Star City?

The Sub Registrar Office that covers Lucky Star City is the Ponneri Sub Registrar Office, located at 9/5, Taluk Office Road, Ponneri, Chennai-601204. You can find your SRO for more details.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Medur. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction.

When a property is registered, the guideline value is compared to the sale price, and the higher amount is used to calculate the stamp duty. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Lucky Star City?

The current guideline value of Lucky Star City is Rs 250 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 167 per sq.ft in 2017 to Rs 250 per sq.ft in both 2023 and 2024, marking a 50% increase overall from 2017 to 2024.

Are there any years without a guideline value for Lucky Star City?

Yes, the register has no figures for the years 2002, 2003, 2007, and 2012 for Lucky Star City.

What are the stamp duty and registration fees for a property in Lucky Star City?

For a property valued at Rs 2,50,000, the stamp duty is Rs 17,500 and the registration fee is Rs 5,000, totaling Rs 22,500. These fees are calculated based on the higher of the guideline value or the sale price.

Which office handles registrations for Lucky Star City?

The Ponneri Sub Registrar Office handles registrations for Lucky Star City, located at 9/5, Taluk Office Road, Ponneri, Chennai-601204.