Guideline Value for Labbai Street

Labbai Street guideline value

The current guideline value of Labbai Street is Rs 2,800 per sq.ft, effective from 1 July 2024. This street is located in Adambakkam village under the Alandur SRO, classified as Residential Class II Type - II.

How the guideline value of Labbai Street has changed

Over the years, the guideline value of Labbai Street has seen significant changes. In 2002, the guideline value was Rs 257 per sq.ft, which increased to Rs 293 per sq.ft in 2003, marking a 14% increase. The value rose significantly to Rs 650 per sq.ft in 2007, reflecting a 122% rise. Following this, the value jumped to Rs 2,500 per sq.ft in 2012, an increase of 285%. However, it decreased to Rs 1,675 per sq.ft in 2017, showing a decline of 33%. The value then increased to Rs 2,500 per sq.ft in 2023, before reaching the current rate of Rs 2,800 per sq.ft in 2024, which is a 12% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 989%. There are no figures available for the revisions in the years not listed, and the register has no figure for this street in those years.

Guideline values in Adambakkam

In Adambakkam, there are 569 streets under the Alandur SRO that carry a 2024 guideline value ranging from Rs 2,800 to Rs 11,000 per sq.ft. The median value for these streets is Rs 3,900 per sq.ft, placing Labbai Street's 2024 figure below that median.

• Labbai Lane: Rs 2,800 per sq.ft (2024)
• Labour Lane 1st Lane: Rs 2,800 per sq.ft (2024)
• Labour lane 2nd lane: Rs 2,800 per sq.ft (2024)
• Labour Well 2nd Street: Rs 2,800 per sq.ft (2024)
• Labour Well 3rd Street: Rs 2,800 per sq.ft (2024)
• Labour Well First Street: Rs 2,800 per sq.ft (2024)

Stamp duty and registration fee for property in Labbai Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,800 per sq.ft, the total guideline value would be Rs 28,00,000. The stamp duty at 7% would amount to Rs 1,96,000, and the registration fee at 2% would be Rs 56,000, bringing the total to Rs 2,52,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

You can also use the stamp duty and registration fee calculator for more accurate calculations.

Which Sub Registrar Office covers Labbai Street?

The Sub Registrar Office that covers Labbai Street is the Alandur Sub Registrar Office, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061. You can find your SRO for more information.

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

The guideline value is a reference point used during property registration in Adambakkam. When a property is bought or sold, the guideline value helps determine the applicable stamp duty and registration fees, ensuring that these fees are calculated based on a standardized value.

Frequently asked questions

What is the current guideline value of Labbai Street?

The current guideline value of Labbai Street is Rs 2,800 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 257 per sq.ft in 2002 to Rs 2,800 per sq.ft in 2024, reflecting an overall increase of 989% over the years.

Where can I find the Sub Registrar Office for Labbai Street?

The Sub Registrar Office for Labbai Street is the Alandur Sub Registrar Office, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061.

What are the stamp duty and registration fees for property in Labbai Street?

For a 1,000 sq.ft property at the current guideline value, the total stamp duty would be Rs 1,96,000, and the registration fee would be Rs 56,000, totaling Rs 2,52,000.

What other streets have the same guideline value in Adambakkam?

Other streets in Adambakkam with the same guideline value of Rs 2,800 per sq.ft include Labbai Lane, Labour Lane 1st Lane, Labour lane 2nd lane, Labour Well 2nd Street, Labour Well 3rd Street, and Labour Well First Street.