Guideline Value for Lal Bagadur Sashtri Street

Lal Bagadur Sashtri Street guideline value

The current guideline value of Lal Bagadur Sashtri Street is Rs 2,310 per sq.ft, effective from 1 July 2024. This street is located in Perungalathur village, under the Padappai SRO, classified as Residential Class II Type - I.

How the guideline value of Lal Bagadur Sashtri Street has changed

The guideline value for Lal Bagadur Sashtri Street has seen several revisions over the years. In 2007, the value was Rs 250 per sq.ft, which increased significantly to Rs 2,100 per sq.ft in 2012. However, it dropped to Rs 1,407 per sq.ft in 2017, before rising to Rs 2,100 per sq.ft again in 2023. The latest revision in 2024 has set the guideline value at Rs 2,310 per sq.ft, marking a 10% increase from the previous year.

Notably, there are no figures available for the years 2002 and 2003 in the register for this street. Overall, from 2007 to 2024, the guideline value has increased by 824%.

Guideline values in Perungalathur

In Perungalathur, there are 411 streets under the Padappai SRO, with guideline values ranging from Rs 1,320 to Rs 5,500 per sq.ft. The median guideline value is Rs 2,310 per sq.ft, which is the same as the current value for Lal Bagadur Sashtri Street.

• Laxmi Nagar: Rs 2,310 per sq.ft (2024)
• Lakshmi Nagar Extension: Rs 2,310 per sq.ft (2024)
• Lime Light Avenue: Rs 2,310 per sq.ft (2024)
• Lime Light Avenue Phase II: Rs 2,640 per sq.ft (2024)
• Lingam Nagar-I: Rs 1,980 per sq.ft (2024)
• Lingam Nagar-II: Rs 1,980 per sq.ft (2024)

Stamp duty and registration fee for property in Lal Bagadur Sashtri Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,310 per sq.ft, the total guideline value amounts to Rs 23,10,000. The stamp duty at 7% would be Rs 1,61,700, and the registration fee at 2% would be Rs 46,200, bringing the total to Rs 2,07,900. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Lal Bagadur Sashtri Street?

The Sub Registrar Office that covers Lal Bagadur Sashtri Street is the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone. You can find your SRO for additional assistance.

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

The guideline value is a crucial factor when registering property transactions in Perungalathur. It determines the minimum value on which stamp duty and registration fees are calculated, ensuring that the government receives the appropriate revenue from property sales.

When buying or selling property, it is essential to be aware of the current guideline value to avoid any discrepancies during the registration process. Buyers should ensure that the sale price is not lower than the guideline value to prevent additional charges or penalties.

Frequently asked questions

What is the current guideline value for Lal Bagadur Sashtri Street?

The current guideline value for Lal Bagadur Sashtri Street is Rs 2,310 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 250 per sq.ft in 2007 to Rs 2,310 per sq.ft in 2024, with various revisions in between.

What is the registration office for Lal Bagadur Sashtri Street?

The registration office for Lal Bagadur Sashtri Street is the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone.

How is stamp duty calculated for properties in Lal Bagadur Sashtri Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, a property valued at Rs 23,10,000 would incur a stamp duty of Rs 1,61,700 at 7%.

What are the other streets in Perungalathur with the same guideline value?

Other streets in Perungalathur with the same guideline value of Rs 2,310 per sq.ft include Laxmi Nagar, Lakshmi Nagar Extension, and Lime Light Avenue.