Guideline Value for Lathuram Street

Lathuram Street guideline value

The current guideline value of Lathuram Street is Rs 5,500 per sq.ft, effective from 1 July 2024. This street is located in Triplicane village and falls under the Triplicane SRO. The land classification for this area is Residential Class II Type - I.

How the guideline value of Lathuram Street has changed

The guideline value for Lathuram Street has undergone several revisions over the years. The earliest recorded figure is from 2007, where the value was Rs 945 per sq.ft. This increased significantly to Rs 5,000 per sq.ft in 2012, marking a substantial rise of 429%. However, the value then decreased to Rs 3,350 per sq.ft in 2017, reflecting a decline of 33%. The value saw a remarkable increase of 49% to Rs 5,000 per sq.ft in 2023, and further increased by 10% to the current figure of Rs 5,500 per sq.ft in 2024.

It is important to note that there are no recorded figures for Lathuram Street in the years 2002 and 2003. Overall, from 2007 to 2024, the guideline value has increased by 482%.

Guideline values in Triplicane

In Triplicane, there are 415 streets under the Triplicane SRO that carry a 2024 guideline value, ranging from Rs 2,700 to Rs 20,900 per sq.ft. The median guideline value for these streets is Rs 6,600 per sq.ft, indicating that Lathuram Street's 2024 figure is below this median.

• Lal Mohammed Street: Rs 6,600 per sq.ft (2024)
• Lal Mohammed Cross Street: Rs 6,600 per sq.ft (2024)
• Lal Begum Street: Rs 6,600 per sq.ft (2024)
• Lock Nagar Huts (Dr. Navalar Nagar): Rs 2,700 per sq.ft (2024)
• Lodd Govindas Salai: Rs 6,600 per sq.ft (2024)
• Kuppu Muthu Street: Rs 8,800 per sq.ft (2024)

Stamp duty and registration fee for property in Lathuram Street

For a 1,000 sq.ft plot at the current guideline value of Rs 5,500 per sq.ft, the total guideline value would be Rs 55,00,000. The stamp duty at 7% would be Rs 3,85,000, and the registration fee at 2% would be Rs 1,10,000, resulting in a total of Rs 4,95,000. Please note that the duty is charged on the higher of the guideline value or the sale price.

For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Lathuram Street?

Lathuram Street is covered by the Triplicane Sub Registrar Office, located at No.182 Bharati Salai (pycrafts Road) Royapettah, Chennai-600014. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Triplicane. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid at the time of registration.

Frequently asked questions

What is the current guideline value of Lathuram Street?

The current guideline value of Lathuram Street is Rs 5,500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 945 per sq.ft in 2007 to Rs 5,500 per sq.ft in 2024, with various increases and decreases in between.

What is the median guideline value for streets in Triplicane?

The median guideline value for streets in Triplicane is Rs 6,600 per sq.ft, which is higher than the current value of Lathuram Street.

Where can I find the Sub Registrar Office for Lathuram Street?

The Triplicane Sub Registrar Office covers Lathuram Street and is located at No.182 Bharati Salai (pycrafts Road) Royapettah, Chennai-600014.

How is stamp duty calculated for properties in Lathuram Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, a property valued at Rs 55,00,000 would incur a stamp duty of Rs 3,85,000 at 7%.