Guideline Value for Labour Lane

Labour Lane guideline value

The current guideline value of Labour Lane in Tondaiarpet village under the Royapuram SRO is Rs 1,300 per sq.ft, effective from 1 July 2024. This area is classified as Residential Class II Type - I.

How the guideline value of Labour Lane has changed

Over the years, the guideline value for Labour Lane has seen several revisions. The 2007 revision set the value at Rs 600 per sq.ft, which increased to Rs 1,200 per sq.ft in the 2012 revision. This figure remained unchanged through the 2023 revision, but the 2024 revision has increased the guideline value to Rs 1,300 per sq.ft, marking an 8% increase from the previous year.

From 2007 to 2012, the guideline value doubled, reflecting a 100% increase. Overall, from 2007 to 2024, the guideline value has risen by 117%. It is important to note that there are no figures available for the revisions in 2002, 2003, and 2017 for Labour Lane.

Guideline values in Tondaiarpet

In Tondaiarpet, there are 1384 streets under the Royapuram SRO, with the 2024 guideline values ranging from Rs 1,100 to Rs 10,100 per sq.ft. The median guideline value in this area is Rs 1,600 per sq.ft, which means Labour Lane's current value is below this median.

• K.V.K. Swamy street: Rs 1,300 per sq.ft (2024)
• Kuresan Street: Rs 2,700 per sq.ft (2024)
• Kuppu Lane: Rs 1,300 per sq.ft (2024)
• Kuppu Chetty Street (Kuppa Chetty Street): Rs 1,300 per sq.ft (2024)
• Kumaresan Street: Rs 1,300 per sq.ft (2024)
• Kumarasamy Lane: Rs 1,300 per sq.ft (2024)

Stamp duty and registration fee for property in Labour Lane

For a 1,000 sq.ft plot at the current guideline value of Rs 1,300 per sq.ft, the total guideline value amounts to Rs 13,00,000. The stamp duty at 7% would be Rs 91,000, and the registration fee at 2% would be Rs 26,000, totaling Rs 1,17,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Labour Lane?

The Sub Registrar Office that covers Labour Lane is the Royapuram Sub Registrar Office, located at 535, Tondaiyarpet High Road, Near Maharani Theatre, Chennai 600021. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process for property transactions in Tondaiarpet. It determines the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, the guideline value serves as a reference point for both parties. It is essential for buyers to be aware of the current guideline value to ensure they are making informed decisions during the transaction process.

Frequently asked questions

What is the current guideline value of Labour Lane?

The current guideline value of Labour Lane is Rs 1,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 600 per sq.ft in 2007 to Rs 1,300 per sq.ft in 2024, reflecting an overall increase of 117% over this period.

What are the stamp duty and registration fees for properties in Labour Lane?

For a property valued at Rs 13,00,000, the stamp duty would be Rs 91,000 and the registration fee would be Rs 26,000, totaling Rs 1,17,000.

Which Sub Registrar Office covers Labour Lane?

The Royapuram Sub Registrar Office covers Labour Lane, located at 535, Tondaiyarpet High Road, Near Maharani Theatre, Chennai 600021.

Where can I find more information on guideline values in Tondaiarpet?

More information on guideline values in Tondaiarpet can be found through the Registration Department's guideline value register (TNReginet) or by visiting the respective Sub Registrar Office.