Guideline Value for Lalitha Traders

Lalitha Traders guideline value

The current guideline value of Lalitha Traders is Rs 1,200 per sq.ft, effective from 1 July 2024. This area is located in Madambakkam village under the Gooduvancheri SRO, and the land classification is Commercial Special Type - I.

How the guideline value of Lalitha Traders has changed

Since the 2007 revision, the guideline value has seen significant changes. In 2007, the value was Rs 245 per sq.ft, which increased to Rs 1,200 per sq.ft in 2012, marking a substantial rise of 390%. However, it then decreased to Rs 804 per sq.ft in 2017, a drop of 33%. The value remained at Rs 804 per sq.ft until the 2023 revision, where it was again set at Rs 1,200 per sq.ft, showing an increase of 49% from the previous revision. The current guideline value remains unchanged from 2023 to 2024, maintaining at Rs 1,200 per sq.ft.

The register has no figures for the years 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 390%.

Guideline values in Madambakkam

In Madambakkam, there are 110 streets under the Gooduvancheri SRO that carry a 2024 guideline value ranging from Rs 800 to Rs 2,000 per sq.ft, with the median being Rs 1,200 per sq.ft. Lalitha Traders' 2024 figure aligns with this median.

• Lalitha Nagar: Rs 1,200 per sq.ft (2024)
• Madhu Nagar: Rs 1,200 per sq.ft (2024)
• Krishna Nagar: Rs 1,200 per sq.ft (2024)
• Karthik Nagar Extn-VI: Rs 1,200 per sq.ft (2024)
• Karthik Nagar Extn-V: Rs 1,200 per sq.ft (2024)
• Karthik Nagar Extn-IV: Rs 1,200 per sq.ft (2024)

Stamp duty and registration fee for property in Lalitha Traders

For a 1,000 sq.ft plot at the current rate of Rs 1,200 per sq.ft, the guideline value amounts to Rs 12,00,000. The stamp duty at 7% would be Rs 84,000, and the registration fee at 2% would be Rs 24,000, totaling Rs 1,08,000. 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 Lalitha Traders?

The Lalitha Traders area is covered by the Gooduvancheri Sub Registrar Office, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvancheri-603202, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor during the registration of property transactions in Madambakkam. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction, ensuring that the government receives the appropriate revenue from property sales.

When buying or selling property, the guideline value helps both parties understand the minimum value at which the property should be registered. This ensures transparency in transactions and helps prevent undervaluation of properties.

Frequently asked questions

What is the current guideline value of Lalitha Traders?

The current guideline value of Lalitha Traders is Rs 1,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen various changes, with the most recent revision in 2024 maintaining the value at Rs 1,200 per sq.ft, unchanged from 2023. The value has increased significantly from Rs 245 per sq.ft in 2007 to Rs 1,200 per sq.ft in 2012, then decreased to Rs 804 per sq.ft in 2017.

What is the land classification for Lalitha Traders?

The land classification for Lalitha Traders is Commercial Special Type - I, which indicates the specific use and zoning regulations applicable to the area.

Where can I find the registration office for Lalitha Traders?

The registration office for Lalitha Traders is the Gooduvancheri Sub Registrar Office, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvancheri-603202, Chengalpattu registration zone.

How is stamp duty calculated for properties in Lalitha Traders?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 12,00,000, the stamp duty would be Rs 84,000, and the registration fee would be Rs 24,000, totaling Rs 1,08,000.