Guideline Value for Lalbagadur Sastri Street

Lalbagadur Sastri Street guideline value

The current guideline value of Lalbagadur Sastri Street is Rs 950 per sq.ft, effective from 1 July 2024. This street is located in Selaiyur village, under the Selaiyur SRO, and is classified as Residential Class IV Type - II.

How the guideline value of Lalbagadur Sastri Street has changed

Over the years, the guideline value for Lalbagadur Sastri Street has seen several revisions. The earliest available figure is from 2007, where the guideline value was Rs 450 per sq.ft. This increased to Rs 900 per sq.ft in 2012, but then decreased to Rs 603 per sq.ft in 2017. The value rose significantly to Rs 900 per sq.ft in 2023 and has now reached Rs 950 per sq.ft in the 2024 revision, marking a 6% increase from the previous year.

In summary, from 2007 to 2024, the overall change in the guideline value is an increase of 111%. The register does not contain figures for the revisions in 2002 and 2003 for this street.

Guideline values in Selaiyur

In Selaiyur, there are 478 streets under the Selaiyur SRO that have a 2024 guideline value ranging from Rs 850 to Rs 6,500 per sq.ft, with a median value of Rs 2,200 per sq.ft. Lalbagadur Sastri Street's current guideline value is below this median.

• Leela Colony: Rs 2,900 per sq.ft (2024)
• Leela Street: Rs 950 per sq.ft (2024)
• Leelavathy Nagar: Rs 2,900 per sq.ft (2024)
• LIC Colony: Rs 2,200 per sq.ft (2024)
• Lakshmi Nagar Ext: Rs 3,750 per sq.ft (2024)
• Lakshmi Nagar: Rs 2,900 per sq.ft (2024)

Stamp duty and registration fee for property in Lalbagadur Sastri Street

For a 1,000 sq.ft plot at the current rate of Rs 950 per sq.ft, the guideline value would be Rs 9,50,000. The stamp duty at 7% would amount to Rs 66,500, and the registration fee at 2% would be Rs 19,000, totaling Rs 85,500. Duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Lalbagadur Sastri Street?

The Sub Registrar Office that covers Lalbagadur Sastri Street is the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, under the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process of property transactions in Selaiyur. It is used to determine the stamp duty and registration fees that need to be paid when buying or selling a property. The fees are calculated based on the guideline value or the sale price, whichever is higher.

When a property is registered, the guideline value ensures that the transaction is recorded at a fair value, which helps in maintaining transparency in property dealings. Buyers and sellers should be aware of these values to understand their financial obligations during the registration process.

Frequently asked questions

What is the current guideline value of Lalbagadur Sastri Street?

The current guideline value of Lalbagadur Sastri Street is Rs 950 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has changed from Rs 450 per sq.ft in 2007 to Rs 950 per sq.ft in 2024, an overall increase of 111% over the years.

What is the land classification for Lalbagadur Sastri Street?

Lalbagadur Sastri Street is classified as Residential Class IV Type - II.

Where can I find the Selaiyur Sub Registrar Office?

The Selaiyur Sub Registrar Office is located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073.

How is the stamp duty calculated for properties in Lalbagadur Sastri Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property with a guideline value of Rs 9,50,000, the stamp duty at 7% would amount to Rs 66,500.