Guideline Value for Lalbagadursasthri 2nd Cross 1st Lane

Lalbagadursasthri 2nd Cross 1st Lane guideline value

The current guideline value for Lalbagadursasthri 2nd 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 2nd Cross 1st Lane has changed

The guideline value for this street 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 2012 revision saw the value jump to Rs 3,000 per sq.ft, representing a 200% increase from the previous figure. However, in 2017, the value decreased to Rs 2,010 per sq.ft, a drop of 33%. The value then rose again to Rs 3,000 per sq.ft in 2023, and finally, it reached Rs 3,300 per sq.ft in the 2024 revision, which is a 10% increase from the previous year. Notably, the register has no figure for the year 2002 for this street.

Overall, from 2003 to 2024, the guideline value has increased by 378%. The changes reflect the fluctuations in the real estate landscape over the years, with the most recent revision aligning with the median value of Rs 3,300 per sq.ft for other streets in Zaminpallavaram.

Guideline values in Zaminpallavaram

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

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

Stamp duty and registration fee for property in Lalbagadursasthri 2nd Cross 1st Lane

For a 1,000 sq.ft plot at the current rate of Rs 3,300 per sq.ft, the guideline value amounts to Rs 33,00,000. The stamp duty at 7% would be Rs 2,31,000, while the registration fee at 2% would be Rs 66,000, bringing the total to Rs 2,97,000. It is important to note that duty is charged on the higher of the guideline value and the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Lalbagadursasthri 2nd Cross 1st Lane?

The Lalbagadursasthri 2nd Cross 1st Lane is covered by 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 property transactions in Zaminpallavaram. It serves as a benchmark for determining the minimum value at which property can be registered. Buyers and sellers must consider this value to ensure compliance with legal requirements during the registration process.

When a property is sold, the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. This ensures that the government receives appropriate revenue from property transactions, reflecting the value of the property being transferred.

Frequently asked questions

What is the current guideline value for Lalbagadursasthri 2nd Cross 1st Lane?

The current guideline value for Lalbagadursasthri 2nd 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 street?

Lalbagadursasthri 2nd Cross 1st Lane is classified as Residential Class I Type - II.

Where can I find the registration office for this area?

The registration office for Lalbagadursasthri 2nd Cross 1st Lane is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044.

How are stamp duty and registration fees calculated?

Stamp duty and registration fees are calculated based on the higher of the guideline value or the sale price of the property. For example, a 1,000 sq.ft plot at the current guideline value would incur a total of Rs 2,97,000 in fees.