Guideline Value for Lalbagadursasthri 2nd Cross Street

Lalbagadursasthri 2nd Cross Street guideline value

The current guideline value of Lalbagadursasthri 2nd Cross Street is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Zaminpallavaram village under the Pallavaram SRO, classified as Residential Class I Type - II.

How the guideline value of Lalbagadursasthri 2nd Cross Street has changed

Over the years, the guideline value of Lalbagadursasthri 2nd Cross Street has seen significant changes. The earliest recorded figure in the register is from 2003, at Rs 690 per sq.ft. This figure increased to Rs 1,000 per sq.ft in 2007, marking a 45% rise. In 2012, the value was Rs 3,000 per sq.ft, reflecting a substantial increase of 200% from the previous revision. However, in 2017, it dropped to Rs 2,010 per sq.ft, a decrease of 33%. The value then rose again to Rs 3,000 per sq.ft in 2023, before reaching the current figure of Rs 3,300 per sq.ft in 2024, which is a 10% increase from the previous year.

In total, from 2003 to 2024, the guideline value has increased by 378%. The register does not have 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 the same as the current value for Lalbagadursasthri 2nd Cross Street.

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

Stamp duty and registration fee for property in Lalbagadursasthri 2nd Cross Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value would be Rs 33,00,000. The stamp duty at 7% would amount to Rs 2,31,000, and the registration fee at 2% would be Rs 66,000. Together, the total cost for these fees would be Rs 2,97,000. It is important to note that 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 Lalbagadursasthri 2nd Cross Street?

The Lalbagadursasthri 2nd Cross Street 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 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 the transaction is recorded at a fair value.

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 the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Lalbagadursasthri 2nd Cross Street?

The current guideline value of Lalbagadursasthri 2nd Cross Street 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 registration office for Lalbagadursasthri 2nd Cross Street?

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

What are the stamp duty and registration fees for property transactions?

Stamp duty is charged at 7% of the guideline value or sale price, whichever is higher, while the registration fee is 2%. For example, on a property valued at Rs 33,00,000, the total fees would amount to Rs 2,97,000.

What is the land classification for Lalbagadursasthri 2nd Cross Street?

Lalbagadursasthri 2nd Cross Street is classified as Residential Class I Type - II, which is relevant for determining its guideline value.