Guideline Value for Lasar Nagar 2nd Street

Lasar Nagar 2nd Street guideline value

The current guideline value of Lasar Nagar 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 Nagar 2nd Street has changed

The guideline value for Lasar Nagar 2nd Street has undergone several revisions over the years. In 2002, the value was Rs 236 per sq.ft, which increased to Rs 269 per sq.ft in 2003. Following that, the value saw a significant rise to Rs 650 per sq.ft in 2007, and then it increased to Rs 2,500 per sq.ft in 2012. However, there was a decline to Rs 1,675 per sq.ft in 2017. The value then rose to Rs 2,500 per sq.ft in 2023, and most recently, it has reached Rs 2,800 per sq.ft in 2024.

Between the revisions, the changes in guideline values are notable. From 2002 to 2003, the increase was +14%. The value rose by +142% from 2003 to 2007. There was a substantial increase of +285% from 2007 to 2012, followed by a decrease of -33% from 2012 to 2017. The value then increased by +49% from 2017 to 2023, and the most recent change from 2023 to 2024 is +12%. Overall, from 2002 to 2024, the guideline value has increased by +1086%.

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 Nagar 2nd Street's 2024 guideline value is below this median.

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

For a 1,000 sq.ft plot at the current rate of Rs 2,800 per sq.ft, the 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 duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Lasar Nagar 2nd Street?

The Sub Registrar Office that covers Lasar Nagar 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 plays a crucial role during the registration of property transactions in Adambakkam. It is used to determine the stamp duty and registration fees that need to be paid, ensuring that the transaction is recorded accurately in the official register.

When buying or selling property, it is essential to be aware of the guideline value as it affects the overall cost of the transaction. Buyers should ensure that they are informed about the current guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

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

The current guideline value of Lasar Nagar 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 236 per sq.ft in 2002 to Rs 2,800 per sq.ft in 2024, showing an overall increase of +1086%.

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 Nagar 1st Street, Lasar Ist Street, Lasar 4th Street, and Lasar 3rd Street.

What is the registration fee for property in Lasar Nagar 2nd Street?

The registration fee for property in Lasar Nagar 2nd Street is 2% of the guideline value, which amounts to Rs 56,000 for a 1,000 sq.ft plot at the current rate.

Where is the Alandur Sub Registrar Office located?

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