Guideline Value for Labour Well First Street

Labour Well First Street guideline value

The current guideline value of Labour Well First Street is Rs 2,800 per sq.ft, effective from 1 July 2024. 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 First Street has changed

The guideline value for Labour Well First Street has seen several revisions over the years. The earliest recorded figure is from 2002, which was Rs 199 per sq.ft. This increased to Rs 288 per sq.ft in 2003, marking a 45% rise. In 2007, the value jumped significantly to Rs 650 per sq.ft, an increase of 126%. The 2012 revision brought a value of Rs 2,500 per sq.ft, showing a substantial increase of 285%. However, this figure decreased to Rs 1,675 per sq.ft in 2017, reflecting a decline of 33%. The guideline value then rose to Rs 2,500 per sq.ft in 2023, before reaching the current value 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 1,307%. It is important to note that there are no recorded figures for any other revisions for this street.

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 Labour Well First Street's current value below this median.

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

Stamp duty and registration fee for property in Labour Well First Street

For a 1,000 sq.ft plot at the current rate of Rs 2,800 per sq.ft, the guideline value amounts to Rs 28,00,000. The stamp duty at 7% would be 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 essential to note that the duty is charged on the higher of the guideline value and the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Labour Well First Street?

The Sub Registrar Office that covers Labour Well First 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 plays a crucial role in the registration process of property transactions in Adambakkam. When buying or selling property, the guideline value is used to determine the applicable stamp duty and registration fees, ensuring that these costs are based on an official valuation.

It is important for buyers and sellers to be aware of the guideline value, as it affects the overall costs involved in property transactions. Proper understanding of this value can aid in making informed decisions during the buying or selling process.

Frequently asked questions

What is the current guideline value of Labour Well First Street?

The current guideline value of Labour Well First 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 1,307% over the years.

What is the land classification for Labour Well First Street?

Labour Well First Street is classified as Residential Class II Type - II, indicating its designation for residential use.

What is the median guideline value for streets in Adambakkam?

The median guideline value for streets in Adambakkam is Rs 3,900 per sq.ft, which is higher than the current value of Labour Well First Street.

Where can I find the registration office for Labour Well First Street?

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