Guideline Value for Lalbagadursasthri 1st Cross 1st Lane

Lalbagadursasthri 1st Cross 1st Lane guideline value

The current guideline value of Lalbagadursasthri 1st Cross 1st Lane is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Zaminpallavaram village, under the Pallavaram SRO, and is classified as Residential Class I Type - II.

How the guideline value of Lalbagadursasthri 1st Cross 1st Lane has changed

The guideline value for Lalbagadursasthri 1st Cross 1st Lane has seen several revisions over the years. In 2003, the value was Rs 690 per sq.ft, which increased to Rs 1,000 per sq.ft in 2007, marking a significant rise of 45%. The value then jumped to Rs 3,000 per sq.ft in 2012, reflecting a 200% increase. However, it decreased to Rs 2,010 per sq.ft in 2017, a decline of 33%. The subsequent revision in 2023 raised the value to Rs 3,000 per sq.ft, followed by the latest increase to Rs 3,300 per sq.ft in 2024, which is a 10% rise.

Overall, from 2003 to 2024, the guideline value has increased by 378%. The register does not provide figures for the year 2002 for this street.

Guideline values in Zaminpallavaram

In Zaminpallavaram, there are 638 streets under the Pallavaram SRO, with guideline values ranging from Rs 2,100 to Rs 11,000 per sq.ft. The median guideline value is Rs 3,300 per sq.ft, which is equal to the 2024 figure for Lalbagadursasthri 1st Cross 1st Lane.

• Lalbagadursasthri 1st Cross 2nd Lane: Rs 3,300 per sq.ft (2024)
• Lalbagadursasthri 1st Cross 3rd Lane: Rs 3,300 per sq.ft (2024)
• Lalbagadursasthri 1st Cross 4th Lane: Rs 3,300 per sq.ft (2024)
• Lalbagadursasthri 1st Cross Street: Rs 3,300 per sq.ft (2024)
• Lalbagadursasthri 2nd Cross 1st Lane: Rs 3,300 per sq.ft (2024)
• Lalbagadursasthri 2nd Cross 2nd Lane: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Lalbagadursasthri 1st Cross 1st Lane

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value amounts to Rs 33,00,000. The stamp duty at 7% would be Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, bringing the total to Rs 2,97,000. 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 further calculations.

Which Sub Registrar Office covers Lalbagadursasthri 1st Cross 1st Lane?

The Lalbagadursasthri 1st Cross 1st Lane falls under the jurisdiction of the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Zaminpallavaram. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that transactions are conducted transparently and fairly.

When a property is sold, the guideline value helps calculate the stamp duty and registration fees that need to be paid. Buyers and sellers should be aware that these fees are based on the guideline value or the sale price, whichever is higher, which can significantly affect the overall cost of the transaction.

Frequently asked questions

What is the current guideline value of Lalbagadursasthri 1st Cross 1st Lane?

The current guideline value of Lalbagadursasthri 1st Cross 1st Lane is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 690 per sq.ft in 2003 to Rs 3,300 per sq.ft in 2024, reflecting an overall increase of 378% over the years.

What is the land classification for this area?

Lalbagadursasthri 1st Cross 1st Lane is classified as Residential Class I Type - II.

Where can I find the registration office for this property?

The registration office covering Lalbagadursasthri 1st Cross 1st Lane is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044.

How is the stamp duty calculated for properties in this area?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, for a property valued at Rs 33,00,000, the stamp duty would be Rs 2,31,000 at a rate of 7%.