Guideline Value for Labour Well 2nd Street

Labour Well 2nd Street guideline value

The current guideline value of Labour Well 2nd Street is Rs 2,800 per sq.ft. This street is located in Adambakkam village, under the Alandur SRO, and is classified as Residential Class II Type - II.

How the guideline value of Labour Well 2nd Street has changed

The guideline value for Labour Well 2nd Street has seen several revisions over the years. In 2002, the value was Rs 199 per sq.ft, which increased to Rs 227 per sq.ft in 2003. Following this, the value rose significantly to Rs 650 per sq.ft in 2007, and then it jumped to Rs 2,500 per sq.ft in 2012. However, there was a decrease to Rs 1,675 per sq.ft in 2017. The value increased again to Rs 2,500 per sq.ft in 2023, and the latest revision in 2024 set the value at Rs 2,800 per sq.ft.

Between the revisions, notable changes include an increase of 12% from 2023 to 2024, and a substantial increase of 49% from 2017 to 2023. The value decreased by 33% from 2012 to 2017, while it increased dramatically by 285% from 2007 to 2012. The value also saw a rise of 186% from 2003 to 2007 and a smaller increase of 14% from 2002 to 2003. Overall, from 2002 to 2024, the guideline value has increased by 1307%.

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 guideline value in this area is Rs 3,900 per sq.ft, making the 2024 figure for Labour Well 2nd Street below that median.

• Labour lane 2nd lane: Rs 2,800 per sq.ft (2024)
• Labour Well 3rd Street: Rs 2,800 per sq.ft (2024)
• Labour Lane 1st Lane: Rs 2,800 per sq.ft (2024)
• Labour Well First Street: Rs 2,800 per sq.ft (2024)
• Labour Well Street Main: Rs 3,900 per sq.ft (2024)
• Labbai Street: Rs 2,800 per sq.ft (2024)

Stamp duty and registration fee for property in Labour Well 2nd 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, making the total fees together Rs 2,52,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Labour Well 2nd Street?

The Sub Registrar Office that covers Labour Well 2nd Street is the Alandur Sub Registrar Office, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061. For more details, you can find your SRO.

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

The guideline value is a crucial factor in the registration of property transactions in Adambakkam. It serves as a benchmark for determining the stamp duty and registration fees that must be paid during the transfer of property ownership.

When buying or selling property, the guideline value ensures that the transaction is recorded at a fair value, which is essential for legal and taxation purposes. It is important for both buyers and sellers to be aware of the current guideline value when engaging in property transactions.

Frequently asked questions

What is the current guideline value of Labour Well 2nd Street?

The current guideline value of Labour Well 2nd 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 from Rs 199 per sq.ft in 2002 to Rs 2,800 per sq.ft in 2024, reflecting an overall increase of 1307% over the years.

What are the other streets in Adambakkam with similar guideline values?

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

What is the registration fee for property in Labour Well 2nd Street?

The registration fee for property in Labour Well 2nd Street is calculated based on the guideline value. For a property valued at Rs 28,00,000, the registration fee would be Rs 56,000.

Where is the Alandur Sub Registrar Office located?

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