Guideline Value for Lal Bagadur Sastri Street

Lal Bagadur Sastri Street guideline value

The current guideline value of Lal Bagadur Sastri Street is Rs 2,001 per sq.ft, effective from 1 July 2024. This street is located in Gooduvancheri village, under the Gooduvancheri SRO. The land classification for this area is Residential Special Type - II.

How the guideline value of Lal Bagadur Sastri Street has changed

The guideline value for Lal Bagadur Sastri Street has seen several revisions over the years. The 2017 revision set the value at Rs 1,340 per sq.ft. In 2023, this figure increased to Rs 2,000 per sq.ft, and in the latest revision for 2024, it further rose to Rs 2,001 per sq.ft. Notably, there are no figures available for the years 2002, 2003, 2007, and 2012 in the register for this street.

From 2017 to 2023, the guideline value increased by 49%. The overall change from 2017 to 2024 is also a 49% increase. The change from 2023 to 2024 is minimal, with an increase of just 0%.

Guideline values in Gooduvancheri

In Gooduvancheri, there are 129 streets under the Gooduvancheri SRO that carry a 2024 guideline value ranging from Rs 1,000 to Rs 3,500 per sq.ft. The median value for these streets is Rs 1,500 per sq.ft, placing Lal Bagadur Sastri Street's 2024 figure above this median.

• Kupuswamy Pillai Street: Rs 1,200 per sq.ft (2024)
• Kupuswamy Nayakar Street: Rs 2,001 per sq.ft (2024)
• Mahalakshmi Street: Rs 2,001 per sq.ft (2024)
• Maharaja Nagar: Rs 1,500 per sq.ft (2024)
• Kumaran Nagar: Rs 1,500 per sq.ft (2024)
• Mangal Nagar: Rs 2,001 per sq.ft (2024)

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

For a 1,000 sq.ft plot at the current guideline value of Rs 2,001 per sq.ft, the total guideline value would be Rs 20,01,000. The stamp duty at 7% would be Rs 1,40,070, and the registration fee at 2% would be Rs 40,020, leading to a total of Rs 1,80,090. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Lal Bagadur Sastri Street?

The Lal Bagadur Sastri Street falls under the jurisdiction of the Gooduvancheri Sub Registrar Office, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvancheri-603202, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role when buying or selling property in Gooduvancheri. It is used to determine the stamp duty and registration fees that need to be paid during the registration process. Buyers should be aware that the guideline value is a benchmark used by the registration department to assess property transactions.

When a property is sold, the buyer must ensure that the sale price is in line with the guideline value. If the sale price is lower than the guideline value, the higher amount will be considered for calculating the stamp duty and registration fees.

Frequently asked questions

What is the current guideline value of Lal Bagadur Sastri Street?

The current guideline value of Lal Bagadur Sastri Street is Rs 2,001 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,340 per sq.ft in 2017 to Rs 2,001 per sq.ft in 2024, marking a 49% increase overall. The value was Rs 2,000 per sq.ft in 2023, showing a minimal increase of 0% in 2024.

What is the land classification for Lal Bagadur Sastri Street?

The land classification for Lal Bagadur Sastri Street is Residential Special Type - II.

Where can I find the Gooduvancheri Sub Registrar Office?

The Gooduvancheri Sub Registrar Office is located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvancheri-603202, Chengalpattu registration zone.

How do stamp duty and registration fees work in Gooduvancheri?

Stamp duty and registration fees in Gooduvancheri are calculated based on the guideline value or the sale price, whichever is higher. Buyers should be prepared to pay these fees during the registration process of property transactions.