Guideline Value for Lalbagadursasthri Colony Street

Lalbagadursasthri Colony Street guideline value

The current guideline value of Lalbagadursasthri Colony Street 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 Colony Street has changed

The guideline value for Lalbagadursasthri Colony Street has experienced 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 surged to Rs 3,000 per sq.ft in 2012, reflecting a 200% increase. However, in 2017, it decreased to Rs 2,010 per sq.ft, a drop of 33%. The value rebounded 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.

There is no figure available for the year 2002 in the register for this street. Overall, the guideline value has increased by 378% from Rs 690 per sq.ft in 2003 to Rs 3,300 per sq.ft in 2024.

Guideline values in Zaminpallavaram

In Zaminpallavaram, there are 638 streets under the Pallavaram SRO with the 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 guideline value of Lalbagadursasthri Colony Street.

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

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, totaling 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 more details.

Which Sub Registrar Office covers Lalbagadursasthri Colony Street?

The Sub Registrar Office that covers Lalbagadursasthri Colony Street is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, in the 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 plays a crucial role during the registration of property transactions in Zaminpallavaram. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring that the government receives appropriate revenue from stamp duties and registration fees.

When buying or selling property, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable stamp duty and registration fees. This ensures that both buyers and sellers are aware of the financial implications of their transactions.

Frequently asked questions

What is the current guideline value of Lalbagadursasthri Colony Street?

The current guideline value of Lalbagadursasthri Colony 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 this period.

What is the land classification of Lalbagadursasthri Colony Street?

Lalbagadursasthri Colony Street is classified as Residential Class I Type - II.

What is the stamp duty rate applicable for properties in this area?

The stamp duty rate for properties in Lalbagadursasthri Colony Street is 7% of the guideline value or the sale price, whichever is higher.

Where can I find the Sub Registrar Office for Lalbagadursasthri Colony Street?

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