Guideline Value for Lasar 4th Street

Lasar 4th Street guideline value

The current guideline value of Lasar 4th 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 4th Street has changed

The guideline value for Lasar 4th Street has seen several revisions over the years. In 2002, the guideline value was Rs 236 per sq.ft, which increased to Rs 269 per sq.ft in 2003. Following this, the value rose significantly to Rs 650 per sq.ft in 2007, marking a 142% increase. The subsequent revision in 2012 saw the value drop to Rs 2,500 per sq.ft, a decrease of 285% from the previous figure. In 2017, the guideline value increased to Rs 1,675 per sq.ft, reflecting a 49% rise. The most recent revision in 2023 set the value at Rs 2,500 per sq.ft, and it has now increased to Rs 2,800 per sq.ft in 2024, which is a 12% increase.

Throughout these revisions, there are no figures available for the years not mentioned in this overview. The overall change from 2002 to 2024 shows an increase of 1,086% in the guideline value.

Guideline values in Adambakkam

In Adambakkam, there are 569 streets under the Alandur SRO carrying 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 4th Street's 2024 figure below that median.

• Lasar 3rd Street: Rs 2,800 per sq.ft (2024)
• Lasar Ist Street: Rs 2,800 per sq.ft (2024)
• Lasar 2nd 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 4th 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 amount to Rs 1,96,000, and the registration fee at 2% would be Rs 56,000, totaling Rs 2,52,000. It is important to note that 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 Lasar 4th Street?

The Sub Registrar Office that covers Lasar 4th 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 plays a crucial role during property registration in Adambakkam. It serves as a benchmark for determining the minimum value at which a property can be registered. When a buyer and seller agree on a sale price, the registration office will assess the guideline value to ensure that the transaction is compliant with local regulations.

When registering a property, the buyer must pay stamp duty and registration fees based on the higher of the guideline value or the sale price. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Lasar 4th Street?

The current guideline value of Lasar 4th 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 236 per sq.ft in 2002 to Rs 2,800 per sq.ft in 2024, showing a significant increase over the years.

What are the stamp duty and registration fees for properties in Lasar 4th Street?

For a 1,000 sq.ft property, the total guideline value is Rs 28,00,000. The stamp duty would be Rs 1,96,000, and the registration fee would be Rs 56,000, totaling Rs 2,52,000.

Which Sub Registrar Office covers Lasar 4th Street?

The Alandur Sub Registrar Office covers Lasar 4th Street, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061.

What is the median guideline value in Adambakkam?

The median guideline value in Adambakkam is Rs 3,900 per sq.ft, while Lasar 4th Street's value is below this median at Rs 2,800 per sq.ft.