Guideline Value for Lasar 2nd Street

Lasar 2nd Street guideline value

The current guideline value of Lasar 2nd Street is Rs 2,800 per sq.ft, effective from 1 July 2024. This street is located in Adambakkam village, under the Alandur SRO, and is classified as Residential Class II Type - II.

How the guideline value of Lasar 2nd Street has changed

The guideline value for Lasar 2nd Street has undergone several revisions over the years. In 2012, the value was Rs 2,500 per sq.ft, which then decreased to Rs 1,675 per sq.ft in 2017. Following this, the value increased significantly to Rs 2,500 per sq.ft in 2023, and then rose again to the current rate of Rs 2,800 per sq.ft in 2024. The register has no figures for the years 2002, 2003, and 2007.

Between the revisions, there were notable changes: from 2012 to 2017, there was a decrease of 33%. However, from 2017 to 2023, the value increased by 49%. The most recent revision from 2023 to 2024 shows an increase of 12%. Overall, from 2012 to 2024, the guideline value has increased by 12%.

Guideline values in Adambakkam

In Adambakkam, there are 569 streets under the Alandur SRO that carry a 2024 guideline value ranging from Rs 2,800 to Rs 11,000 per sq.ft. The median guideline value in this area is Rs 3,900 per sq.ft, placing Lasar 2nd Street's 2024 figure below that median.

• Lasar 3rd Street: Rs 2,800 per sq.ft (2024)
• Lasar 4th Street: Rs 2,800 per sq.ft (2024)
• Lasar Ist Street: Rs 2,800 per sq.ft (2024)
• Lasar Nagar 1st Street: Rs 2,800 per sq.ft (2024)
• Lasar Nagar 2nd Street: Rs 2,800 per sq.ft (2024)
• Lakshmi Street: Rs 3,900 per sq.ft (2024)

Stamp duty and registration fee for property in Lasar 2nd Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,800 per sq.ft, the total guideline value would be Rs 28,00,000. The stamp duty at 7% would be Rs 1,96,000, and the registration fee at 2% would be Rs 56,000, bringing the total to Rs 2,52,000. 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 Lasar 2nd Street?

The Sub Registrar Office that covers Lasar 2nd Street is the Alandur Sub Registrar Office, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061. You can find your SRO for more information.

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

The guideline value is a crucial factor when registering property transactions in Adambakkam. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the sale or purchase of property.

When you buy or sell property, the guideline value helps ensure that the transaction is recorded at an appropriate value, which is important for legal and tax purposes. It is essential to be aware of the current guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Lasar 2nd Street?

The current guideline value of Lasar 2nd Street is Rs 2,800 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,500 per sq.ft in 2012 to Rs 1,675 per sq.ft in 2017, then to Rs 2,500 per sq.ft in 2023, and finally to Rs 2,800 per sq.ft in 2024.

What are the stamp duty and registration fees for property in Lasar 2nd Street?

For a 1,000 sq.ft plot at the current guideline value, the total stamp duty would be Rs 1,96,000, and the registration fee would be Rs 56,000, totaling Rs 2,52,000.

Which office handles property registrations for Lasar 2nd Street?

The Alandur Sub Registrar Office handles property registrations for Lasar 2nd Street, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061.

What is the land classification of Lasar 2nd Street?

Lasar 2nd Street is classified as Residential Class II Type - II.