Guideline Value for Lal Bhagathur Sastri Street

Lal Bhagathur Sastri Street guideline value

The current guideline value of Lal Bhagathur Sastri Street is Rs 1,100 per sq.ft, effective from 1 July 2024. This street is located in Thiruvallur village and falls under the Tiruvallur Joint 1 SRO. The land classification for this area is Residential Class I Type - III.

How the guideline value of Lal Bhagathur Sastri Street has changed

The guideline value for Lal Bhagathur Sastri Street has seen several revisions over the years. The 2007 revision set the value at Rs 320 per sq.ft, which increased significantly to Rs 1,000 per sq.ft in 2012, marking a 213% increase. However, in the 2017 revision, the value decreased to Rs 670 per sq.ft, reflecting a decline of 33%. The value then rose to Rs 1,000 per sq.ft in the 2023 revision and finally reached Rs 1,100 per sq.ft in the 2024 revision, showing a 10% increase.

From 2017 to 2023, the guideline value increased by 49%. Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 244%. It is important to note that the register has no figures for the years 2002 and 2003 for this street.

Guideline values in Thiruvallur

In Thiruvallur, there are 172 streets under the Tiruvallur Joint 1 SRO that carry a 2024 guideline value ranging from Rs 550 to Rs 3,850 per sq.ft, with a median value of Rs 1,100 per sq.ft. Lal Bhagathur Sastri Street's 2024 figure matches this median value.

• Langakara Street: Rs 1,650 per sq.ft (2024)
• Lakshmipuram Colony: Rs 880 per sq.ft (2024)
• Lakshmipuram: Rs 1,320 per sq.ft (2024)
• Kuttaikkarai Street: Rs 2,200 per sq.ft (2024)
• Kumeravel Nagar: Rs 2,200 per sq.ft (2024)
• Kumaran Cross Street: Rs 1,100 per sq.ft (2024)

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

For a 1,000 sq.ft plot at the current rate of Rs 1,100 per sq.ft, the guideline value amounts to Rs 11,00,000. The stamp duty at 7% would be Rs 77,000, and the registration fee at 2% would be Rs 22,000, making the total Rs 99,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Lal Bhagathur Sastri Street?

The Lal Bhagathur Sastri Street is covered by the Tiruvallur Joint 1 Sub Registrar Office, located at No.201, J.n.road, Taluk Office Compound, Thiruvallur-602001. You can find your SRO for more information.

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

The guideline value is a crucial factor when registering property transactions in Thiruvallur. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring that the government receives appropriate stamp duty and registration fees.

When buying or selling property, the guideline value helps in assessing the fair value of the property. Buyers should be aware that the stamp duty is calculated based on the higher of the guideline value or the sale price, ensuring transparency in property transactions.

Frequently asked questions

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

The current guideline value of Lal Bhagathur Sastri Street is Rs 1,100 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has changed significantly, increasing from Rs 320 per sq.ft in 2007 to Rs 1,100 per sq.ft in 2024, which is a total increase of 244% over the years.

What is the stamp duty for property in Lal Bhagathur Sastri Street?

The stamp duty for property in Lal Bhagathur Sastri Street is 7% of the guideline value or the sale price, whichever is higher. For a 1,000 sq.ft plot, the stamp duty would amount to Rs 77,000.

Where can I find the Sub Registrar Office for Lal Bhagathur Sastri Street?

The Sub Registrar Office covering Lal Bhagathur Sastri Street is the Tiruvallur Joint 1 Sub Registrar Office, located at No.201, J.n.road, Taluk Office Compound, Thiruvallur-602001.

What is the land classification for Lal Bhagathur Sastri Street?

The land classification for Lal Bhagathur Sastri Street is Residential Class I Type - III, indicating its suitability for residential development.