Guideline Value for Lalithambal Nagar

Lalithambal Nagar guideline value

The current guideline value of Lalithambal Nagar is Rs 2,970 per sq.ft, effective from 1 July 2024. This area is located in Mogalivakkam village, under the Kunrathur SRO, and is classified as Residential Special Type - I.

How the guideline value of Lalithambal Nagar has changed

The guideline value for Lalithambal Nagar has undergone several revisions over the years. In 2007, the value was Rs 940 per sq.ft, which increased significantly to Rs 2,700 per sq.ft in 2012. However, it then decreased by 33% to Rs 1,809 per sq.ft in 2017. The value rose again to Rs 2,700 per sq.ft in 2023, before reaching the current rate of Rs 2,970 per sq.ft in 2024, marking a 10% increase from the previous year.

Overall, from 2007 to 2024, the guideline value has increased by 216%. The revisions for the years 2002 and 2003 do not have figures available for this street.

Guideline values in Mogalivakkam

In Mogalivakkam, there are 98 streets under the Kunrathur SRO with a 2024 guideline value ranging from Rs 2,530 to Rs 6,600 per sq.ft. The median value is Rs 2,970 per sq.ft, which is the same as the guideline value for Lalithambal Nagar.

• Lalitha Avenue: Rs 2,970 per sq.ft (2024)
• Lalith Avenue Extension: Rs 2,970 per sq.ft (2024)
• Madha Koil Road: Rs 2,970 per sq.ft (2024)
• Lakshmi Nagar: Rs 3,520 per sq.ft (2024)
• Mahalakshmi Avenue: Rs 2,970 per sq.ft (2024)
• Mahalakshmi Nagar: Rs 3,520 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 2,970 per sq.ft, the total guideline value would be Rs 29,70,000. The stamp duty, charged at 7%, would amount to Rs 2,07,900, while the registration fee at 2% would be Rs 59,400. Together, these fees would total Rs 2,67,300. 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 Lalithambal Nagar?

The Sub Registrar Office that covers Lalithambal Nagar is the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069. You can find your SRO for more information.

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

The guideline value is a critical factor in the registration process for property transactions in Mogalivakkam. When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees, ensuring that these costs are based on a standardized valuation of the property.

This value helps maintain transparency in property transactions, as it reflects the official assessment of property values in the area. It is essential for buyers and sellers to be aware of the guideline value to understand the financial implications of their property transactions.

Frequently asked questions

What is the current guideline value of Lalithambal Nagar?

The current guideline value of Lalithambal Nagar is Rs 2,970 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 940 per sq.ft in 2007 to Rs 2,970 per sq.ft in 2024, reflecting an overall increase of 216% over the years.

What are the stamp duty and registration fees for property in Lalithambal Nagar?

For a property valued at Rs 29,70,000, the stamp duty would be Rs 2,07,900 and the registration fee would be Rs 59,400, totaling Rs 2,67,300.

Which Sub Registrar Office is responsible for Lalithambal Nagar?

The Kunrathur Sub Registrar Office is responsible for Lalithambal Nagar, located at No.59, Road Street, Kundrathur, Chennai -600 069.

What is the land classification of Lalithambal Nagar?

Lalithambal Nagar is classified as Residential Special Type - I, indicating its designated use for residential purposes.