Guideline Value for Labour Well Street Main

Labour Well Street Main guideline value

The current guideline value of Labour Well Street Main is Rs 3,900 per sq.ft, effective from 1 July 2024. This street is located in Adambakkam village and falls under the Alandur SRO. The land classification for this area is Residential Class I Type - III.

How the guideline value of Labour Well Street Main has changed

Over the years, the guideline value of Labour Well Street Main has seen significant changes. In 2003, the guideline value was Rs 326 per sq.ft. This increased to Rs 650 per sq.ft in 2007, marking a substantial rise of 99%. The value then surged dramatically to Rs 3,500 per sq.ft in 2012, reflecting an increase of 438%. However, between 2012 and 2017, the value decreased to Rs 2,345 per sq.ft, a decline of 33%. The value rose again to Rs 3,500 per sq.ft in 2023, before reaching the current value of Rs 3,900 per sq.ft in 2024, an increase of 11%.

It is important to note that the register has no figure for Labour Well Street Main in 2002. Overall, from 2003 to 2024, the guideline value has increased by 1096%, showcasing the fluctuations in property values over the years.

Guideline values in Adambakkam

In Adambakkam, there are 569 streets under the Alandur SRO that carry a guideline value for 2024, ranging from Rs 2,800 to Rs 11,000 per sq.ft. The median value is Rs 3,900 per sq.ft, which is equal to the current guideline value of Labour Well Street Main.

• Labour Well First Street: Rs 2,800 per sq.ft (2024)
• Labour Well 3rd Street: Rs 2,800 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 Street Main

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

You can use the stamp duty and registration fee calculator for a more detailed estimate based on your specific property details.

Which Sub Registrar Office covers Labour Well Street Main?

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

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

The guideline value plays a crucial role in property transactions in Adambakkam. It is used to determine the stamp duty and registration fees that buyers must pay when purchasing property. The fees are calculated based on the guideline value or the sale price, whichever is higher, ensuring that the government receives the appropriate revenue from property transactions.

When selling property, the guideline value can also influence the pricing strategy for sellers. It serves as a benchmark for potential buyers, helping them understand the minimum value that the property should be registered at, thereby impacting negotiations and final sale agreements.

Frequently asked questions

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

The current guideline value of Labour Well Street Main 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 326 per sq.ft in 2003 to Rs 3,900 per sq.ft in 2024, reflecting an overall increase of 1096% over this period.

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

Other streets in Adambakkam include Labour Well First Street, Labour Well 3rd Street, Labour Well 2nd Street, Labour lane 2nd lane, Labour Lane 1st Lane, and Labbai Street, all valued at Rs 2,800 per sq.ft in 2024.

What fees are associated with buying property in Labour Well Street Main?

When buying property, the fees include stamp duty at 7% and a registration fee at 2% of the guideline value or sale price, whichever is higher. For example, for a 1,000 sq.ft plot, the total fees would amount to Rs 3,51,000.

Where can I find the Sub Registrar Office for Labour Well Street Main?

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