Guideline Value for Lala Singh Street

Lala Singh Street guideline value

The current guideline value of Lala Singh Street 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), and it falls under the Residential Class III Type - II land classification.

How the guideline value of Lala Singh Street has changed

The guideline value of Lala Singh Street has seen several revisions over the years. The 2012 revision set the value at Rs 3,700 per sq.ft, which decreased to Rs 2,479 per sq.ft in the 2017 revision. This marked a decline of 33%. However, the value rebounded significantly in the following revisions, increasing to Rs 3,700 per sq.ft in 2023, and then rising to Rs 4,000 per sq.ft in the 2024 revision, reflecting an 8% increase from the previous year.

In total, from the 2012 revision to the 2024 revision, the guideline value has increased by 8%. The register has no figures for the years 2002, 2003, and 2007 for this street.

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, with a median value of Rs 4,800 per sq.ft. Lala Singh Street's current guideline value is below this median.

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

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, and the registration fee at 2% would be Rs 80,000, bringing the total to 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.

You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Lala Singh Street?

Lala Singh Street falls under 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 is a critical factor during property registration in Vepery. It helps determine the amount of stamp duty and registration fees that need to be paid, ensuring that the transaction is recorded at a fair value as per government regulations.

When buying or selling property, the guideline value serves as a benchmark for assessing the worth of the property. It is essential for both buyers and sellers to be aware of this value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Lala Singh Street?

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

How has the guideline value changed over the years?

The guideline value has changed from Rs 3,700 per sq.ft in 2012 to Rs 2,479 per sq.ft in 2017, then to Rs 3,700 per sq.ft in 2023, and finally to Rs 4,000 per sq.ft in 2024.

What is the land classification of Lala Singh Street?

Lala Singh Street is classified under Residential Class III Type - II.

What are the other streets in Vepery with their guideline values?

Other streets in Vepery include Lala Kutti Street and Lala Kutti Lane at Rs 4,000 per sq.ft, Lala Street at Rs 6,000 per sq.ft, Maddox Street at Rs 4,900 per sq.ft, and Kutti Thambiran Street at Rs 6,000 per sq.ft.

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

The Sub Registrar Office covering Lala Singh Street is located at 1103, Poonamallee High Road, Chennai-600 003.