Guideline Value for Labour lane 2nd lane

Labour lane 2nd lane guideline value

The current guideline value for Labour Lane 2nd Lane in Adambakkam village is Rs 2,800 per sq.ft, effective from 1 July 2024. This property falls under the jurisdiction of the Alandur SRO and is classified as Residential Class II Type - II.

How the guideline value of Labour lane 2nd lane has changed

The guideline value for Labour Lane 2nd Lane has undergone several revisions over the years. The register shows that in 2002, the value was Rs 188 per sq.ft, which increased to Rs 215 per sq.ft in 2003, marking a 14% rise. By 2007, the value had significantly increased to Rs 650 per sq.ft, reflecting a 202% change. The 2012 revision saw the value at Rs 2,500 per sq.ft, which was a 285% increase from the previous revision. However, in 2017, the value dropped to Rs 1,675 per sq.ft, indicating a decrease of 33%. The value then rose to Rs 2,500 per sq.ft in 2023, followed by the current value of Rs 2,800 per sq.ft in 2024, which is a 12% increase.

Overall, from 2002 to 2024, the guideline value has increased by 1,389%. There are no figures available for the revisions in the years not listed in the register.

Guideline values in Adambakkam

In Adambakkam, there are 569 streets under the Alandur SRO with 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 Lane 2nd Lane's 2024 figure below that median.

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

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 be Rs 1,96,000, and the registration fee at 2% would be Rs 56,000, bringing the total fees to 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 use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Labour lane 2nd lane?

The Sub Registrar Office that covers Labour Lane 2nd Lane 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

When buying or selling property in Adambakkam, the guideline value is a crucial factor in determining the registration fees. The guideline value serves as a benchmark for calculating stamp duty and registration fees, ensuring that these costs are based on a standardized value set by the government.

It is essential for buyers and sellers to be aware of the current guideline value to avoid discrepancies during the registration process. Proper understanding of this value helps in ensuring a smooth transaction and compliance with local regulations.

Frequently asked questions

What is the current guideline value for Labour Lane 2nd Lane?

The current guideline value for Labour Lane 2nd Lane 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 significantly from Rs 188 per sq.ft in 2002 to Rs 2,800 per sq.ft in 2024, reflecting an overall increase of 1,389% over the years.

What is the land classification for Labour Lane 2nd Lane?

Labour Lane 2nd Lane is classified as Residential Class II Type - II under the current regulations.

What are the stamp duty and registration fees for property in Labour Lane 2nd Lane?

For a property valued at Rs 28,00,000, the stamp duty would be Rs 1,96,000 and the registration fee would be Rs 56,000, totaling Rs 2,52,000.

Where is the Sub Registrar Office for Labour Lane 2nd Lane located?

The Sub Registrar Office for Labour Lane 2nd Lane is located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061.