Guideline Value for Lal Singh Street

Lal Singh Street guideline value

The current guideline value of Lal Singh Street, located in Vepery village under the Periamet SRO, is Rs 4,000 per sq.ft. This value is effective from 1 July 2024. The land classification for this street is Residential Class III Type - II.

How the guideline value of Lal Singh Street has changed

Looking at the revisions of the guideline value for Lal Singh Street, the register shows no figures for the years 2002, 2003, 2007, 2012, 2017, and 2023. The only available figure is from the 2024 revision, which is Rs 4,000 per sq.ft.

Since there have been no figures recorded for this street in the earlier revisions, the current guideline value stands alone without any changes to compare against. Therefore, the guideline value of Rs 4,000 per sq.ft is the first and only figure recorded for Lal Singh Street in the current register.

Guideline values in Vepery

In Vepery, there are 290 streets under the Periamet SRO that carry a 2024 guideline value ranging from Rs 2,200 to Rs 22,000 per sq.ft. The median guideline value for these streets is Rs 4,800 per sq.ft, placing Lal Singh Street's value below this median.

• Lala Street: Rs 6,000 per sq.ft (2024)
• Lala Singh Street: Rs 4,000 per sq.ft (2024)
• Lala Kutti Street: Rs 4,000 per sq.ft (2024)
• Lala Kutti Lane: Rs 4,000 per sq.ft (2024)
• Maddox Street: Rs 4,900 per sq.ft (2024)
• Kutti Thambiran Street: Rs 6,000 per sq.ft (2024)

Stamp duty and registration fee for property in Lal Singh Street

For a property on Lal Singh Street measuring 1,000 sq.ft, the guideline value amounts to Rs 40,00,000. The stamp duty at a rate of 7% would be Rs 2,80,000, while the registration fee at 2% would be Rs 80,000. Together, the total cost for stamp duty and registration would be Rs 3,60,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Lal Singh Street?

The Sub Registrar Office that covers Lal Singh Street is the Periamet Sub Registrar Office, located at 1103, Poonamallee High Road, Chennai-600 003. You can find your SRO for more information.

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

The guideline value plays a crucial role during the registration of property transactions in Vepery. When buying or selling property, the guideline value is used to determine the applicable stamp duty and registration fees, ensuring that all transactions are in compliance with the regulatory framework.

It is essential for buyers and sellers to be aware of the guideline value, as it can significantly affect the overall costs associated with property transactions. Understanding the guideline value helps in making informed decisions during the buying or selling process.

Frequently asked questions

What is the current guideline value of Lal Singh Street?

The current guideline value of Lal Singh Street is Rs 4,000 per sq.ft, effective from 1 July 2024.

Has the guideline value of Lal Singh Street changed in recent years?

There have been no recorded figures for Lal Singh Street in the years 2002, 2003, 2007, 2012, 2017, and 2023. The only available figure is from the 2024 revision.

What is the median guideline value for streets in Vepery?

The median guideline value for streets in Vepery is Rs 4,800 per sq.ft. Lal Singh Street's guideline value is below this median.

What are the registration fees for property in Lal Singh Street?

The registration fee for property in Lal Singh Street is calculated at 2% of the guideline value. For a property valued at Rs 40,00,000, the registration fee would be Rs 80,000.

Where is the Sub Registrar Office for Lal Singh Street located?

The Sub Registrar Office that covers Lal Singh Street is the Periamet Sub Registrar Office, located at 1103, Poonamallee High Road, Chennai-600 003.