Guideline Value for Lalithambal Nagar

Lalithambal Nagar guideline value

The current guideline value of Lalithambal Nagar, located in Thirumullaivoyal village under the Ambattur SRO, is Rs 2,400 per sq.ft, effective from 1 July 2024. This area falls under the Residential Class I Type - I land classification.

How the guideline value of Lalithambal Nagar has changed

The guideline value for Lalithambal Nagar has seen several revisions over the years. In 2002, the guideline value was Rs 45 per sq.ft, which increased to Rs 80 per sq.ft in 2003, marking a rise of 78%. Following this, the value surged to Rs 200 per sq.ft in 2007, reflecting a significant increase of 150%. The value then experienced a remarkable jump to Rs 2,200 per sq.ft in 2012, a staggering increase of 1,000%. However, in 2017, the value decreased to Rs 1,474 per sq.ft, a decline of 33%. The guideline value rose again to Rs 2,200 per sq.ft in 2023, before reaching the current figure of Rs 2,400 per sq.ft in 2024, which is a 9% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 5,233%. There are no records of revisions for this street in other years.

Guideline values in Thirumullaivoyal

In Thirumullaivoyal, there are 975 streets under the Ambattur SRO that carry a 2024 guideline value ranging from Rs 880 to Rs 5,500 per sq.ft, with the median being Rs 2,400 per sq.ft. The guideline value for Lalithambal Nagar aligns with this median.

• Lalithambal Nagar (Bharathi Street): Rs 2,400 per sq.ft (2024)
• Lalithambal Nagar (Gandhi Street): Rs 1,800 per sq.ft (2024)
• Lalithambal Nagar (Thiruvalluar Street): Rs 2,400 per sq.ft (2024)
• Lenin Nagar: Rs 2,400 per sq.ft (2024)
• Lenin Nagar 10th Cross Street: Rs 2,400 per sq.ft (2024)
• Lenin Nagar 11th Cross Street: Rs 2,400 per sq.ft (2024)

Stamp duty and registration fee for property in Lalithambal Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 2,400 per sq.ft, the total guideline value would be Rs 24,00,000. The stamp duty at 7% would amount to Rs 1,68,000, and the registration fee at 2% would be Rs 48,000, bringing the total fees to Rs 2,16,000. It is important to note that duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Lalithambal Nagar?

The Sub Registrar Office that covers Lalithambal Nagar is the Ambattur Sub Registrar Office, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a crucial metric used during the registration process of property transactions in Thirumullaivoyal. It serves as a benchmark for determining the minimum value at which property can be registered, ensuring that the government receives the appropriate stamp duty and registration fees.

When buying or selling property, the guideline value is compared to the actual sale price. The higher of the two values is used to calculate the applicable stamp duty and registration fees, ensuring compliance with legal requirements.

Frequently asked questions

What is the current guideline value of Lalithambal Nagar?

The current guideline value of Lalithambal Nagar is Rs 2,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased significantly from Rs 45 per sq.ft in 2002 to Rs 2,400 per sq.ft in 2024, representing an overall increase of 5,233% over the period.

What are the stamp duty rates for property in Lalithambal Nagar?

The stamp duty for property in Lalithambal Nagar is charged at 7% of the guideline value or sale price, whichever is higher.

Where can I find the Sub Registrar Office for Lalithambal Nagar?

The Sub Registrar Office for Lalithambal Nagar is the Ambattur Sub Registrar Office, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone.

What is the land classification for Lalithambal Nagar?

Lalithambal Nagar falls under the Residential Class I Type - I land classification, indicating its suitability for residential purposes.