Guideline Value for Lamech Avenue

Lamech Avenue guideline value

The current guideline value of Lamech Avenue is Rs 13,400 per sq.ft, effective from 1 July 2024. This street is located in Egmore village under the Periamet SRO and is classified as Mixed Type - I.

How the guideline value of Lamech Avenue has changed

The guideline value for Lamech Avenue has seen significant changes over the years. In the 2007 revision, the value was Rs 2,000 per sq.ft, which increased dramatically to Rs 12,300 per sq.ft in 2012, marking a rise of 515%. However, this value dropped to Rs 8,241 per sq.ft in the 2017 revision, a decrease of 33%. The value then rose again to Rs 12,300 per sq.ft in 2023, and most recently, it has increased to Rs 13,400 per sq.ft in the 2024 revision, reflecting an increase of 9%.

There are no figures available for the years 2002 and 2003 for Lamech Avenue in the register. Overall, from 2007 to 2024, the guideline value has increased by 570%.

Guideline values in Egmore

In Egmore, there are 465 streets under the Periamet SRO that have a 2024 guideline value ranging from Rs 2,800 to Rs 22,000 per sq.ft. The median value for these streets is Rs 7,100 per sq.ft, placing Lamech Avenue's 2024 figure significantly above this median.

• Landons Salai: Rs 13,400 per sq.ft (2024)
• Langs Garden Road: Rs 11,000 per sq.ft (2024)
• Laksminarayana Perumal Koil Street: Rs 8,300 per sq.ft (2024)
• LakshmiStreet: Rs 11,000 per sq.ft (2024)
• Logaiya Maistry Street: Rs 3,900 per sq.ft (2024)
• LabbaiSTreet: Rs 3,900 per sq.ft (2024)

Stamp duty and registration fee for property in Lamech Avenue

For a 1,000 sq.ft plot at the current rate of Rs 13,400 per sq.ft, the guideline value amounts to Rs 1,34,00,000. The stamp duty at 7% would be Rs 9,38,000, and the registration fee at 2% would be Rs 2,68,000, totaling Rs 12,06,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can also use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Lamech Avenue?

The Sub Registrar Office that covers Lamech Avenue is the Periamet Sub Registrar Office, located at 1103, Poonamallee High Road, Chennai-600 003. You can find your SRO for more information.

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

The guideline value is a crucial factor when registering property transactions in Egmore. It serves as a benchmark for calculating stamp duty and registration fees, ensuring that property transactions are documented accurately and fairly.

When buying or selling property, the guideline value helps determine the minimum value at which the property can be registered. This ensures that the government receives appropriate revenue from property transactions, reflecting the prevailing market conditions.

Frequently asked questions

What is the current guideline value of Lamech Avenue?

The current guideline value of Lamech Avenue is Rs 13,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 2,000 per sq.ft in 2007 to Rs 13,400 per sq.ft in 2024, representing an overall increase of 570% over this period.

What is the median guideline value in Egmore?

The median guideline value for streets in Egmore under the Periamet SRO is Rs 7,100 per sq.ft, which is below the current value of Lamech Avenue.

Where can I find the Sub Registrar Office for Lamech Avenue?

The Sub Registrar Office covering Lamech Avenue is the Periamet Sub Registrar Office, located at 1103, Poonamallee High Road, Chennai-600 003.

How is stamp duty calculated for properties in Lamech Avenue?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a property with a guideline value of Rs 1,34,00,000 would incur a stamp duty of Rs 9,38,000 at 7%.