Guideline Value for Lalbhahadur Sastry Colony

Lalbhahadur Sastry Colony guideline value

The current guideline value of Lalbhahadur Sastry Colony, located in Koyakbedu village under the AnnaNagar SRO, is Rs 3,300 per sq.ft, effective from 1 July 2024. This area is classified as Residential Class I Type - III.

How the guideline value of Lalbhahadur Sastry Colony has changed

Over the years, the guideline value for Lalbhahadur Sastry Colony has seen several revisions. The 2012 revision set the value at Rs 3,000 per sq.ft, which was then reduced to Rs 2,010 per sq.ft in the 2017 revision. Following this, the value increased to Rs 3,000 per sq.ft in 2023, and finally to Rs 3,300 per sq.ft in the 2024 revision, marking a 10% increase from the previous year.

From 2012 to 2024, the overall change in guideline value is an increase of 10%. Notably, the 2017 revision did not have a figure for this street, and there are no figures available in the register for the years 2002, 2003, and 2007.

Guideline values in Koyakbedu

Koyakbedu has a total of 270 streets under the AnnaNagar SRO, with 2024 guideline values ranging from Rs 2,200 to Rs 16,500 per sq.ft. The median guideline value in the village is Rs 4,400 per sq.ft, making the current rate for Lalbhahadur Sastry Colony below this median.

• Lalbhahadur Sastry Street: Rs 3,300 per sq.ft (2024)
• L bLOCK (WEST)-4TH AVENUE 171 TO 192,KURUNJI COLONY,MULLAI COLONY,NALANDHA FLATS,SINDU FLATS: Rs 15,900 per sq.ft (2024)
• Maghilambu Street Brindavan Nagar: Rs 4,400 per sq.ft (2024)
• Kurungaleeswarar Koil Street (Western side Street) P.H.Road, to Kaliamman Koil Street: Rs 4,400 per sq.ft (2024)
• Kurungaleeshwarar Koil Street: Rs 4,400 per sq.ft (2024)
• Kurinji Street Brindavan Nagar: Rs 4,400 per sq.ft (2024)

Stamp duty and registration fee for property in Lalbhahadur Sastry Colony

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, bringing the total cost for these fees 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 further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Lalbhahadur Sastry Colony?

The Sub Registrar Office that covers Lalbhahadur Sastry Colony is the AnnaNagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office. To find your specific SRO, you can find your SRO.

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

The guideline value plays a crucial role in the registration process of property transactions in Koyakbedu. It is the basis for calculating stamp duty and registration fees, ensuring that all transactions are in line with government regulations.

When buying or selling property, the guideline value is considered alongside the sale price. The higher of the two values is used to determine the applicable duties and fees, ensuring compliance with local laws.

Frequently asked questions

What is the current guideline value of Lalbhahadur Sastry Colony?

The current guideline value of Lalbhahadur Sastry Colony 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 undergone several revisions, with the most recent increase of 10% from Rs 3,000 per sq.ft in 2023 to Rs 3,300 per sq.ft in 2024. Overall, from 2012 to 2024, the value has increased by 10%.

What is the classification of land in Lalbhahadur Sastry Colony?

Lalbhahadur Sastry Colony is classified as Residential Class I Type - III, indicating its suitability for residential development.

Where can I find the registration office for Lalbhahadur Sastry Colony?

The registration office for Lalbhahadur Sastry Colony is the AnnaNagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.

How is the stamp duty calculated for properties in Lalbhahadur Sastry Colony?

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