Guideline Value for Lancor

Lancor guideline value

The current guideline value for Lancor, located in Sriperumbudur A village under the Sriperumpudur SRO, is Rs 700 per sq.ft, effective from 1 July 2024. This property falls under the Residential Class III Type - I land classification.

How the guideline value of Lancor has changed

As per the revisions recorded, the guideline value for Lancor has undergone several changes. The 2017 revision set the value at Rs 469 per sq.ft, which remained unchanged at Rs 700 per sq.ft in the 2023 revision. The current 2024 revision also maintains this value at Rs 700 per sq.ft, indicating no change from the previous year.

Overall, from the 2017 revision to the 2024 revision, there has been a significant increase of 49%. Notably, the revisions for the years 2002, 2003, 2007, and 2012 do not have any figures recorded for this street.

Guideline values in Sriperumbudur A

In Sriperumbudur A, there are 238 streets under the Sriperumpudur SRO with a guideline value for 2024 ranging from Rs 400 to Rs 3,000 per sq.ft. The median value across these streets is Rs 700 per sq.ft, which aligns with the guideline value for Lancor.

• Le Waterina Resorts: Rs 800 per sq.ft (2024)
• Lakshmi Nagar: Rs 700 per sq.ft (2024)
• Lake View Gardens: Rs 700 per sq.ft (2024)
• Kuya Street: Rs 1,200 per sq.ft (2024)
• Kuppu Mudali Street: Rs 700 per sq.ft (2024)
• Mahathma Ganthi Nagar: Rs 1,200 per sq.ft (2024)

Stamp duty and registration fee for property in Lancor

For a 1,000 sq.ft plot at the current guideline value of Rs 700 per sq.ft, the total guideline value amounts to Rs 7,00,000. The stamp duty at 7% would be Rs 49,000, and the registration fee at 2% would be Rs 14,000, totaling Rs 63,000. It is important to note that the 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 Lancor?

The Sub Registrar Office that covers Lancor is the Sriperumpudur Sub Registrar Office, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value is a crucial factor during the registration process when buying or selling property in Sriperumbudur A. It determines the minimum value on which stamp duty and registration fees are calculated, ensuring that the transaction is recorded accurately.

When a property is sold, the guideline value helps in assessing the appropriate taxes that need to be paid. Buyers should be aware that the stamp duty is charged based on the higher of the guideline value or the sale price, which can affect the overall cost of the transaction.

Frequently asked questions

What is the current guideline value for Lancor?

The current guideline value for Lancor is Rs 700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Since the 2017 revision, the guideline value has increased by 49%. It was Rs 469 per sq.ft in 2017 and has remained at Rs 700 per sq.ft in both the 2023 and 2024 revisions.

What is the median guideline value in Sriperumbudur A?

The median guideline value in Sriperumbudur A is Rs 700 per sq.ft, which is the same as the current value for Lancor.

What are the stamp duty and registration fees for a property in Lancor?

For a property valued at Rs 7,00,000, the stamp duty would be Rs 49,000 and the registration fee would be Rs 14,000, totaling Rs 63,000.

Where is the Sub Registrar Office for Lancor located?

The Sub Registrar Office for Lancor is located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone.