Guideline Value for LabbaiSTreet

LabbaiSTreet guideline value

The current guideline value for LabbaiSTreet is Rs 3,900 per sq.ft, effective from 1 July 2024. This street is located in Egmore village and falls under the Periamet SRO, with a land classification of Residential Class III Type - I.

How the guideline value of LabbaiSTreet has changed

Over the years, the guideline value of LabbaiSTreet has seen significant changes. The earliest recorded revision in 2002 listed the value at Rs 601 per sq.ft. This increased to Rs 663 per sq.ft in 2003, followed by a rise to Rs 1,000 per sq.ft in 2007. The 2012 revision saw the value remain at Rs 3,600 per sq.ft, but it dropped to Rs 2,412 per sq.ft in 2017. The value then increased to Rs 3,600 per sq.ft in 2023, before reaching the current figure of Rs 3,900 per sq.ft in 2024.

In terms of percentage changes, the guideline value increased by 10% from 2002 to 2003, 51% from 2003 to 2007, and saw a significant rise of 260% from 2007 to 2012. However, it experienced a decrease of 33% from 2012 to 2017. The value then increased by 49% from 2017 to 2023, and finally, an increase of 8% was noted from 2023 to 2024.

Guideline values in Egmore

In Egmore, there are 465 streets under the Periamet SRO that carry a 2024 guideline value ranging from Rs 2,800 to Rs 22,000 per sq.ft, with a median value of Rs 7,100 per sq.ft. The guideline value for LabbaiSTreet is below this median.

• Kuppusamy Naidu Street: Rs 7,100 per sq.ft (2024)
• Kuppusamy Avenue Road: Rs 11,000 per sq.ft (2024)
• Kummalamman Koil street: Rs 7,100 per sq.ft (2024)
• LakshmiStreet: Rs 11,000 per sq.ft (2024)
• Laksminarayana Perumal Koil Street: Rs 8,300 per sq.ft (2024)
• Lamech Avenue: Rs 13,400 per sq.ft (2024)

Stamp duty and registration fee for property in LabbaiSTreet

For a 1,000 sq.ft plot at the current guideline value of Rs 3,900 per sq.ft, the total guideline value would be Rs 39,00,000. The stamp duty at 7% would amount to Rs 2,73,000, and the registration fee at 2% would be Rs 78,000, bringing the total to Rs 3,51,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers LabbaiSTreet?

The Sub Registrar Office that covers LabbaiSTreet is the Periamet Sub Registrar Office, located at 1103, Poonamallee High Road, Chennai-600 003. You can find your SRO for more details.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Egmore. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is documented at a fair value as per the government’s assessment.

When a property is sold, the buyer is required to pay stamp duty and registration fees based on the guideline value or the sale price, whichever is higher. This ensures that the government receives appropriate revenue from property transactions while also providing transparency in the real estate market.

Frequently asked questions

What is the current guideline value of LabbaiSTreet?

The current guideline value of LabbaiSTreet is Rs 3,900 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 601 per sq.ft in 2002 to Rs 3,900 per sq.ft in 2024, with various revisions reflecting increases and decreases over the years.

What is the registration fee for properties in LabbaiSTreet?

The registration fee for properties in LabbaiSTreet is calculated at 2% of the guideline value. For example, on a property valued at Rs 39,00,000, the registration fee would be Rs 78,000.

Where can I find the Sub Registrar Office for LabbaiSTreet?

The Sub Registrar Office for LabbaiSTreet is located at 1103, Poonamallee High Road, Chennai-600 003. This office handles all registration processes for properties in the area.

How is the stamp duty calculated for properties in Egmore?

Stamp duty in Egmore is charged at 7% of the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions.