Guideline Value for Lafond street

Lafond street guideline value

The current guideline value of Lafond street in Chindadripet village, under the Periamet SRO, is Rs 3,300 per sq.ft, effective from 1 July 2024. This street falls under the Residential Class III Type - I land classification.

How the guideline value of Lafond street has changed

Over the years, the guideline value of Lafond street has seen several revisions. The 2007 revision set the value at Rs 1,000 per sq.ft, which increased significantly to Rs 3,000 per sq.ft in 2012, marking a 200% rise. However, in 2017, the value dropped to Rs 2,010 per sq.ft, representing a decrease of 33%. The trend reversed again, with the 2023 revision increasing the value to Rs 3,000 per sq.ft, followed by a further increase to Rs 3,300 per sq.ft in 2024, reflecting a 10% rise.

It is important to note that there are no figures available for Lafond street in the 2002 and 2003 revisions. Overall, from 2007 to 2024, the guideline value has increased by 230%.

Guideline values in Chindadripet

In Chindadripet, there are 98 streets under the Periamet SRO that carry a 2024 guideline value ranging from Rs 2,500 to Rs 18,100 per sq.ft, with a median value of Rs 3,300 per sq.ft. Lafond street's 2024 figure matches this median value.

• Lafond Lane: Rs 3,300 per sq.ft (2024)
• K.V.M.Colony / Street: Rs 3,300 per sq.ft (2024)
• Kutty Naicken street: Rs 3,300 per sq.ft (2024)
• Lazzaras church street: Rs 3,300 per sq.ft (2024)
• Krishnappa lane: Rs 3,300 per sq.ft (2024)
• Krishnappa Chetty Street: Rs 4,400 per sq.ft (2024)

Stamp duty and registration fee for property in Lafond street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value amounts to Rs 33,00,000. The stamp duty, charged at 7%, would be Rs 2,31,000, while the registration fee at 2% would be Rs 66,000, totaling Rs 2,97,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can calculate your fees using the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Lafond street?

The Sub Registrar Office that covers Lafond street is the Periamet Sub Registrar Office, located at 1103, Poonamallee High Road, Chennai-600 003. You can find your SRO here.

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

The guideline value is an essential factor when registering property transactions in Chindadripet. It determines the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue from stamp duty and registration fees.

When buying or selling property, the guideline value is compared with the sale price. The higher of the two figures is used to calculate the applicable stamp duty and registration fees, ensuring compliance with local regulations.

Frequently asked questions

What is the current guideline value of Lafond street?

The current guideline value of Lafond street is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value of Lafond street has changed from Rs 1,000 per sq.ft in 2007 to Rs 3,300 per sq.ft in 2024, reflecting an overall increase of 230% during this period.

What is the registration office for Lafond street?

The registration office for Lafond street is the Periamet Sub Registrar Office, located at 1103, Poonamallee High Road, Chennai-600 003.

How is the stamp duty calculated for properties in Lafond street?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, a property valued at Rs 33,00,000 would incur a stamp duty of Rs 2,31,000 at a rate of 7%.

What other streets have the same guideline value as Lafond street?

Other streets in Chindadripet that share the same guideline value of Rs 3,300 per sq.ft include Lafond Lane, K.V.M.Colony / Street, Kutty Naicken street, Lazzaras church street, and Krishnappa lane.