Guideline Value for Lala Chatram Street

Lala Chatram Street guideline value

The current guideline value of Lala Chatram Street is Rs 1,430 per sq.ft, effective from 1 July 2024. This street is located in Kunrathour-B village under the Kunrathur SRO, classified as Residential Special Type - II.

How the guideline value of Lala Chatram Street has changed

The guideline value for Lala Chatram Street has undergone several revisions over the years. The 2017 revision set the value at Rs 871 per sq.ft, which increased to Rs 1,300 per sq.ft in the 2023 revision. The latest revision in 2024 saw a further increase to Rs 1,430 per sq.ft, marking a 10% rise from the previous year. Overall, from 2017 to 2024, the guideline value has increased by 64%.

It is important to note that the register has no figures for Lala Chatram Street for the years 2002, 2003, 2007, and 2012. This absence indicates that the street's guideline value was not recorded during those revisions.

Guideline values in Kunrathour-B

In Kunrathour-B, there are 325 streets under the Kunrathur SRO that carry a 2024 guideline value ranging from Rs 660 to Rs 5,130 per sq.ft, with a median value of Rs 1,540 per sq.ft. Lala Chatram Street's 2024 figure of Rs 1,430 per sq.ft is below this median.

• Magizham Enclave Phase II: Rs 1,540 per sq.ft (2024)
• Magizham Extension: Rs 1,430 per sq.ft (2024)
• Mahalakshmi Nagar: Rs 1,760 per sq.ft (2024)
• Kundrathur Pallavaram Main Road: Rs 2,860 per sq.ft (2024)
• Kundrathur North Cherry Street: Rs 1,430 per sq.ft (2024)
• Kundrathur New Town Phase - III: Rs 4,180 per sq.ft (2024)

Stamp duty and registration fee for property in Lala Chatram Street

For a 1,000 sq.ft plot at the current rate of Rs 1,430 per sq.ft, the guideline value amounts to Rs 14,30,000. The stamp duty at 7% would be Rs 1,00,100, while the registration fee at 2% would be Rs 28,600. Together, these fees total Rs 1,28,700. It is essential to note that the duty is charged on the guideline value or the sale price, whichever is higher. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Lala Chatram Street?

Lala Chatram Street falls under the jurisdiction of the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069. You can find your SRO for more information.

How the guideline value is used when you buy or sell in Kunrathour-B

The guideline value plays a crucial role in the registration process when buying or selling property in Kunrathour-B. It serves as a benchmark for determining the stamp duty and registration fees, ensuring that the transaction is recorded at a value recognized by the government.

When a property is sold, the guideline value is used to calculate the applicable fees, which can significantly impact the overall cost of the transaction. Buyers and sellers should be aware of the current guideline value to ensure they are prepared for these expenses during the registration process.

Frequently asked questions

What is the current guideline value of Lala Chatram Street?

The current guideline value of Lala Chatram Street is Rs 1,430 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 871 per sq.ft in 2017 to Rs 1,300 per sq.ft in 2023, and then to Rs 1,430 per sq.ft in 2024. This represents a total increase of 64% from 2017 to 2024.

What is the land classification for Lala Chatram Street?

Lala Chatram Street is classified as Residential Special Type - II. This classification affects the guideline value and the property usage regulations.

What are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 14,30,000, the stamp duty at 7% would be Rs 1,00,100, and the registration fee at 2% would be Rs 28,600, totaling Rs 1,28,700. These fees are based on the guideline value or the sale price, whichever is higher.

Where can I find the Sub Registrar Office for Lala Chatram Street?

The Kunrathur Sub Registrar Office, which covers Lala Chatram Street, is located at No.59, Road Street, Kundrathur, Chennai -600 069. This office handles the registration of property transactions in the area.