Guideline Value for LUCKY STAR CITY

Lucky Star City guideline value

The current guideline value of Lucky Star City, located in Ponneri_2 village, is Rs 700 per sq.ft, effective from 1 July 2024. This area falls under the Ponneri Sub Registrar Office (SRO) and is classified as Residential Class II Type - I.

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 register does not have figures for the years 2002, 2003, 2007, 2012, and 2017. The 2023 revision set the guideline value at Rs 600 per sq.ft, which increased by 17% to Rs 700 per sq.ft in the 2024 revision.

This change reflects a significant adjustment in the valuation of properties in the area. The current figure of Rs 700 per sq.ft is consistent with the median guideline value for other streets in Ponneri_2, which range from Rs 700 to Rs 1,300 per sq.ft.

Guideline values in Ponneri_2

Ponneri_2 village has a total of 75 streets under the Ponneri SRO that have a 2024 guideline value ranging from Rs 700 to Rs 1,300 per sq.ft, with the median being Rs 700 per sq.ft. Lucky Star City's guideline value of Rs 700 per sq.ft is equal to this median.

• Madhavan Road / Nagar: Rs 702 per sq.ft (2024)
• Madhina Palli Vasal: Rs 1,200 per sq.ft (2024)
• Lakshmi Nagar: Rs 700 per sq.ft (2024)
• Lakshmi Amman Kovil Street: Rs 700 per sq.ft (2024)
• Masque St: Rs 700 per sq.ft (2024)
• Kulakkarai Street: Rs 700 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 700 per sq.ft, the total guideline value would be Rs 7,00,000. The stamp duty at 7% would amount to Rs 49,000, and the registration fee at 2% would be Rs 14,000, leading to a total of Rs 63,000. 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 detailed calculations.

Which Sub Registrar Office covers Lucky Star City?

The Lucky Star City area is covered by the Ponneri Sub Registrar Office, located at 9/5, Taluk Office Road, Ponneri, Chennai-601204. For more information, you can find your SRO.

How the guideline value is used when you buy or sell in Ponneri_2

The guideline value is a crucial factor in the registration of property transactions in Ponneri_2. It establishes a baseline for the valuation of properties, ensuring that the registration fees and stamp duties are calculated fairly based on the current market standards.

When buying or selling property in the area, the guideline value will directly influence the costs associated with registration. Buyers and sellers should be aware of this value to ensure they are prepared for the financial implications of their transactions.

Frequently asked questions

What is the current guideline value of Lucky Star City?

The current guideline value of Lucky Star City is Rs 700 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed recently?

From the 2023 revision to the 2024 revision, the guideline value increased from Rs 600 per sq.ft to Rs 700 per sq.ft, marking a 17% increase.

What is the classification of land in Lucky Star City?

The land classification for Lucky Star City is Residential Class II Type - I.

Where can I find the Ponneri Sub Registrar Office?

The Ponneri Sub Registrar Office is located at 9/5, Taluk Office Road, Ponneri, Chennai-601204.

How is the stamp duty calculated for properties in Lucky Star City?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at the guideline value of Rs 700 per sq.ft would incur a stamp duty of Rs 49,000.