Guideline Value for Lal Bahadur Sasthiri Street

Lal Bahadur Sasthiri Street guideline value

The current guideline value of Lal Bahadur Sasthiri Street is Rs 3,630 per sq.ft, effective from July 1, 2024. This street is located in Mudichur village, under the Padappai SRO, classified as Commercial Class I Type - I.

How the guideline value of Lal Bahadur Sasthiri Street has changed

The guideline value for Lal Bahadur Sasthiri Street has undergone several revisions over the years. The earliest recorded figure is from 2012, where it was Rs 3,300 per sq.ft. This value then decreased to Rs 2,211 per sq.ft in 2017. Following this, the value increased significantly to Rs 3,300 per sq.ft in 2023, and then rose again to the current value of Rs 3,630 per sq.ft in 2024.

Between the revisions, the changes were as follows: from 2012 to 2017, there was a decrease of 33%; from 2017 to 2023, the value increased by 49%; and from 2023 to 2024, there was an increase of 10%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Mudichur

Mudichur has a total of 135 streets under the Padappai SRO, with guideline values ranging from Rs 880 to Rs 4,000 per sq.ft as of 2024. The median guideline value in this area is Rs 2,200 per sq.ft, placing Lal Bahadur Sasthiri Street above this median.

• Lingam Nagar: Rs 2,200 per sq.ft (2024)
• Lakshmi Nagar Extn: Rs 3,630 per sq.ft (2024)
• Lakshmi Nagar: Rs 3,630 per sq.ft (2024)
• Madhanapuram: Rs 2,200 per sq.ft (2024)
• Mahalakshmi Nagar: Rs 1,760 per sq.ft (2024)
• Kurinji Nagar Extension: Rs 3,630 per sq.ft (2024)

Stamp duty and registration fee for property in Lal Bahadur Sasthiri Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,630 per sq.ft, the total guideline value amounts to Rs 36,30,000. The stamp duty at 7% would be Rs 2,54,100, and the registration fee at 2% would be Rs 72,600, bringing the total to Rs 3,26,700. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Lal Bahadur Sasthiri Street?

The Sub Registrar Office that covers Lal Bahadur Sasthiri 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 further assistance.

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

The guideline value is a crucial factor when registering property transactions in Mudichur. It serves as a benchmark for determining the minimum value of a property, ensuring that the transaction is recorded at a fair value as per the regulations set by the Registration Department.

When buying or selling property, the guideline value influences the stamp duty and registration fees, which are calculated based on this value. This ensures that both buyers and sellers are aware of the costs involved in the transaction process.

Frequently asked questions

What is the current guideline value of Lal Bahadur Sasthiri Street?

The current guideline value of Lal Bahadur Sasthiri Street is Rs 3,630 per sq.ft, effective from July 1, 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 3,300 per sq.ft in 2012 to Rs 2,211 per sq.ft in 2017, then to Rs 3,300 per sq.ft in 2023, and finally to Rs 3,630 per sq.ft in 2024.

What is the land classification of Lal Bahadur Sasthiri Street?

Lal Bahadur Sasthiri Street is classified as Commercial Class I Type - I, which indicates its suitability for commercial activities.

Where can I find the Sub Registrar Office for Lal Bahadur Sasthiri Street?

The Sub Registrar Office for Lal Bahadur Sasthiri 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 Mudichur?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 36,30,000, the stamp duty would be Rs 2,54,100 at a rate of 7%.