Guideline Value for Lalbagadur Sastri Street

Lalbagadur Sastri Street guideline value

The current guideline value of Lalbagadur Sastri Street is Rs 1,650 per sq.ft, effective from 1 July 2024. This street is located in Chitlapakkam village and falls under the Tambaram Joint 1 SRO. The land classification for this area is Residential Class I Type - III.

How the guideline value of Lalbagadur Sastri Street has changed

The guideline value for Lalbagadur Sastri Street has undergone several revisions over the years. The earliest available figure is from the 2012 revision, which was Rs 1,500 per sq.ft. This was followed by a decrease to Rs 1,005 per sq.ft in the 2017 revision. The 2023 revision saw an increase to Rs 1,500 per sq.ft, and the most recent 2024 revision raised it further to Rs 1,650 per sq.ft.

Between the revisions, the changes were significant. From 2012 to 2017, the guideline value decreased by 33%. However, from 2017 to 2023, it increased by 49%. The overall change from the 2012 revision to the 2024 revision reflects a modest increase of 10%.

Guideline values in Chitlapakkam

In Chitlapakkam, there are 548 streets under the Tambaram Joint 1 SRO that carry a 2024 guideline value ranging from Rs 1,100 to Rs 8,800 per sq.ft. The median value is Rs 1,650 per sq.ft, which is equal to the current guideline value of Lalbagadur Sastri Street.

• Lenin Cross Street: Rs 1,650 per sq.ft (2024)
• Lenin Street: Rs 3,300 per sq.ft (2024)
• L.I.C. Colony: Rs 1,650 per sq.ft (2024)
• Lakshmi Nagar Ist Cross Street: Rs 4,400 per sq.ft (2024)
• Lakshmi nagar cross street: Rs 4,400 per sq.ft (2024)
• Lakshmi Nagar 3rd Main Road: Rs 4,400 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 guideline value of Rs 1,650 per sq.ft, the total guideline value amounts to Rs 16,50,000. The stamp duty at 7% would be Rs 1,15,500, and the registration fee at 2% would be Rs 33,000, bringing the total charges to Rs 1,48,500. 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 further calculations.

Which Sub Registrar Office covers Lalbagadur Sastri Street?

The Sub Registrar Office that covers Lalbagadur Sastri Street is the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059, in the Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value is an essential factor in property transactions in Chitlapakkam, as it determines the minimum price at which properties can be registered. When buying or selling a property, the guideline value is used to calculate the stamp duty and registration fees, which are mandatory for the legal transfer of property ownership.

It is crucial for buyers and sellers to be aware of the current guideline value, as it impacts the overall cost of the transaction. Ensuring that the sale price meets or exceeds the guideline value is necessary to avoid any legal complications 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 1,650 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,500 per sq.ft in 2012 to Rs 1,005 per sq.ft in 2017, then back to Rs 1,500 per sq.ft in 2023, and finally to Rs 1,650 per sq.ft in 2024.

What are the stamp duty and registration fees for properties on this street?

For a 1,000 sq.ft property at the current guideline value, the stamp duty would be Rs 1,15,500, and the registration fee would be Rs 33,000, totaling Rs 1,48,500.

Which office handles the registration for Lalbagadur Sastri Street?

The registration for Lalbagadur Sastri Street is handled by the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059.

What is the land classification for Lalbagadur Sastri Street?

The land classification for Lalbagadur Sastri Street is Residential Class I Type - III.