Guideline Value for Lala Kutti Lane

Lala Kutti Lane guideline value

The current guideline value of Lala Kutti Lane is Rs 4,000 per sq.ft, effective from 1 July 2024. This street is located in Vepery village, under the Periamet Sub Registrar Office (SRO). The land classification for this area is Residential Class III Type - II.

How the guideline value of Lala Kutti Lane has changed

According to the guideline value register, there are no figures for Lala Kutti Lane for the years 2023, 2017, 2012, 2007, 2003, and 2002. The most recent revision is from 2024, which sets the guideline value at Rs 4,000 per sq.ft. This is the only figure available for this street in the current register.

As there are no previous figures listed for Lala Kutti Lane, it is clear that the guideline value has remained unchanged since the last recorded revision. The 2024 figure is the first registered amount for this street, marking a significant point of reference for property transactions moving forward.

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, indicating that Lala Kutti Lane's 2024 figure of Rs 4,000 per sq.ft is below the median.

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

For a 1,000 sq.ft plot at the current guideline value of Rs 4,000 per sq.ft, the total guideline value amounts to Rs 40,00,000. The stamp duty at 7% would be Rs 2,80,000, while the registration fee at 2% would be Rs 80,000, making the total cost for these fees 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, whichever is applicable. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Lala Kutti Lane?

Lala Kutti Lane falls under the jurisdiction of the Periamet Sub Registrar Office, located at 1103, Poonamallee High Road, Chennai-600 003. For further assistance, you can find your SRO.

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

The guideline value plays a crucial role in property transactions in Vepery. When buying or selling property, the guideline value is used to determine the stamp duty and registration fees applicable to the transaction. This value helps ensure that the fees are calculated based on a standardized assessment of property worth.

During the registration process, the guideline value is compared to the sale price of the property. The higher of the two values is used to calculate the stamp duty, ensuring that all transactions are fairly assessed according to the prevailing rates in the area.

Frequently asked questions

What is the current guideline value of Lala Kutti Lane?

The current guideline value of Lala Kutti Lane is Rs 4,000 per sq.ft, effective from 1 July 2024.

What is the land classification for Lala Kutti Lane?

Lala Kutti Lane is classified as Residential Class III Type - II, which indicates its designation for residential use.

Are there any previous guideline values for Lala Kutti Lane?

The guideline value register shows no figures for Lala Kutti Lane for the years 2023, 2017, 2012, 2007, 2003, and 2002. The 2024 figure is the first registered amount for this street.

How does the guideline value compare to other streets in Vepery?

The guideline value of Rs 4,000 per sq.ft for Lala Kutti Lane is below the median value of Rs 4,800 per sq.ft for other streets in Vepery. This indicates that Lala Kutti Lane is positioned on the lower end of the guideline value spectrum in the area.

Where can I find the Sub Registrar Office for Lala Kutti Lane?

The Sub Registrar Office covering Lala Kutti Lane is the Periamet SRO, located at 1103, Poonamallee High Road, Chennai-600 003. You can find more information about this office online.