Guideline Value for Lasar Ist Street

Lasar Ist Street guideline value

The current guideline value of Lasar Ist Street in Adambakkam village, under the Alandur SRO, is Rs 2,800 per sq.ft, effective from 1 July 2024. This street falls under the Residential Class II Type - II land classification.

How the guideline value of Lasar Ist Street has changed

The guideline value for Lasar Ist Street has seen several revisions over the years. The 2012 revision set the value at Rs 2,500 per sq.ft, which was then reduced to Rs 1,675 per sq.ft in the 2017 revision. Following this, the value increased significantly to Rs 2,500 per sq.ft in the 2023 revision, before reaching the current figure of Rs 2,800 per sq.ft in the 2024 revision. The register has no figure for this street in the years 2002, 2003, and 2007.

From the 2017 revision to the 2023 revision, there was a notable increase of 49%. The transition from the 2023 to the 2024 revision reflects a 12% increase. Overall, comparing the 2012 revision to the current 2024 figure, there has been a modest increase of 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, with a median value of Rs 3,900 per sq.ft. Lasar Ist Street's 2024 guideline value is below this median.

• Lasar 4th Street: Rs 2,800 per sq.ft (2024)
• Lasar 3rd Street: Rs 2,800 per sq.ft (2024)
• Lasar Nagar 1st Street: Rs 2,800 per sq.ft (2024)
• Lasar 2nd 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 Ist 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, 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 our stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Lasar Ist Street?

The Sub Registrar Office that covers Lasar Ist 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 in the registration process when buying or selling property in Adambakkam. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid at the time of registration.

When a property is sold, the guideline value is considered alongside the actual sale price. The higher of the two values is used to calculate the applicable duties and fees, ensuring that the registration process is transparent and standardized.

Frequently asked questions

What is the current guideline value of Lasar Ist Street?

The current guideline value of Lasar Ist 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 other streets in Adambakkam with the same guideline value?

Other streets in Adambakkam with the same guideline value of Rs 2,800 per sq.ft include Lasar 4th Street, Lasar 3rd Street, Lasar Nagar 1st Street, Lasar 2nd Street, and Lasar Nagar 2nd Street.

What is the registration fee for property in Lasar Ist Street?

The registration fee is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 28,00,000, the registration fee would be Rs 56,000 at 2%.

Where can I find the Sub Registrar Office for Lasar Ist Street?

The Sub Registrar Office for Lasar Ist Street is the Alandur Sub Registrar Office, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061.