Guideline Value for Lal Bahadur Sastri Street

Lal Bahadur Sastri Street guideline value

The current guideline value of Lal Bahadur Sastri Street is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Thiruneermalai village, under the Pammal Sub Registrar Office (SRO). The land classification for this area is Residential Class I Type - II.

How the guideline value of Lal Bahadur Sastri Street has changed

The guideline value for Lal Bahadur Sastri Street has seen significant changes over the years. In 2003, the guideline value was Rs 237 per sq.ft, which increased to Rs 350 per sq.ft in 2007. This was a rise of 48%. The value then jumped to Rs 1,340 per sq.ft in 2017, marking a substantial increase of 283%. Following this, the 2023 revision set the value at Rs 2,000 per sq.ft, reflecting a 49% increase from the previous revision. The latest revision in 2024 has further increased the guideline value to Rs 2,200 per sq.ft, a rise of 10% from 2023.

It is important to note that the register does not have figures for the years 2002 and 2012 for this street. Overall, from 2003 to 2024, the guideline value has increased by 828%.

Guideline values in Thiruneermalai

In Thiruneermalai village, there are 316 streets under the Pammal SRO that carry a 2024 guideline value, ranging from Rs 1,320 to Rs 6,240 per sq.ft. The median guideline value for these streets is Rs 2,420 per sq.ft, positioning Lal Bahadur Sastri Street's 2024 figure below this median.

• Lakshmipuram/Ranganathasami 2nd Street: Rs 2,860 per sq.ft (2024)
• Lakshmipuram/Mani Naicker Street: Rs 2,860 per sq.ft (2024)
• Lakshmipuram/Kumaraswamy Street: Rs 2,860 per sq.ft (2024)
• Lakshmipuram (All Street): Rs 2,860 per sq.ft (2024)
• Maduappar 1st Street: Rs 2,420 per sq.ft (2024)
• Maduappar 2nd Street: Rs 2,420 per sq.ft (2024)

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

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value amounts to Rs 22,00,000. The stamp duty at 7% would be Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, totaling Rs 1,98,000. It is essential to note that the duty is charged on the higher of the guideline value and the sale price. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Lal Bahadur Sastri Street?

The Lal Bahadur Sastri Street falls under the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor during property transactions in Thiruneermalai. When buying or selling property, this value is used to determine the stamp duty and registration fees that need to be paid. It serves as a benchmark for the minimum value at which properties can be registered.

Both buyers and sellers should be aware that the guideline value is updated periodically, and it is essential to check the latest figures before proceeding with any transaction. This ensures compliance with legal requirements and accurate financial planning.

Frequently asked questions

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

The current guideline value of Lal Bahadur Sastri Street is Rs 2,200 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 237 per sq.ft in 2003 to Rs 2,200 per sq.ft in 2024, showing an overall increase of 828% over the years.

What are the stamp duty and registration fees for properties here?

For a property valued at Rs 22,00,000, the stamp duty would be Rs 1,54,000 and the registration fee would be Rs 44,000, totaling Rs 1,98,000.

Which Sub Registrar Office covers this street?

The Pammal Sub Registrar Office covers Lal Bahadur Sastri Street, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075.

What is the significance of the guideline value?

The guideline value is used to determine the minimum value for property registration and the applicable stamp duty and registration fees during property transactions in Thiruneermalai.