Guideline Value for Lime Light Avenue Phase II

Lime Light Avenue Phase II guideline value

The current guideline value of Lime Light Avenue Phase II is Rs 2,640 per sq.ft, effective from 1 July 2024. This property is located in Perungalathur village, under the Padappai SRO, and is classified as Residential Class I Type - I.

How the guideline value of Lime Light Avenue Phase II has changed

The guideline value for Lime Light Avenue Phase II has undergone several revisions over the years. In 2012, the value was Rs 2,400 per sq.ft, which then decreased to Rs 1,608 per sq.ft in 2017. This was a significant drop of 33%. However, from 2017 to 2023, the value increased by 49%, reaching Rs 2,400 per sq.ft. The most recent revision in 2024 set the value at Rs 2,640 per sq.ft, marking a 10% increase from the previous year.

It is important to note that there are no figures available for the years 2002, 2003, and 2007 in the register for this street. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Perungalathur

In Perungalathur, there are 411 streets under the Padappai SRO that have a 2024 guideline value ranging from Rs 1,320 to Rs 5,500 per sq.ft. The median value for these streets is Rs 2,310 per sq.ft, placing Lime Light Avenue Phase II above this median.

• Lime Light Avenue: Rs 2,310 per sq.ft (2024)
• Lingam Nagar-I: Rs 1,980 per sq.ft (2024)
• Lingam Nagar-II: Rs 1,980 per sq.ft (2024)
• L.M.J Garden: Rs 2,310 per sq.ft (2024)
• Laxmi Nagar: Rs 2,310 per sq.ft (2024)
• Madan Street: Rs 1,650 per sq.ft (2024)

Stamp duty and registration fee for property in Lime Light Avenue Phase II

For a 1,000 sq.ft plot at the current guideline value of Rs 2,640 per sq.ft, the total guideline value would be Rs 26,40,000. The stamp duty at 7% would amount to Rs 1,84,800, and the registration fee at 2% would be Rs 52,800, bringing the total cost for these fees to Rs 2,37,600. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Lime Light Avenue Phase II?

The Sub Registrar Office that covers Lime Light Avenue Phase II is the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone. You can find your SRO for more details.

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

The guideline value plays a crucial role in the registration process of property transactions in Perungalathur. 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 a property is registered, the guideline value is compared with the sale price, and the higher amount is used to calculate the applicable duties and fees. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Lime Light Avenue Phase II?

The current guideline value of Lime Light Avenue Phase II is Rs 2,640 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,400 per sq.ft in 2012 to Rs 1,608 per sq.ft in 2017, then back to Rs 2,400 per sq.ft in 2023, and finally to Rs 2,640 per sq.ft in 2024.

What is the land classification for Lime Light Avenue Phase II?

Lime Light Avenue Phase II is classified as Residential Class I Type - I, indicating its suitability for residential development.

Where can I find the Sub Registrar Office for Lime Light Avenue Phase II?

The Sub Registrar Office for Lime Light Avenue Phase II is the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone.

How is the stamp duty calculated for properties in Lime Light Avenue Phase II?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, for a 1,000 sq.ft plot at the current guideline value, the total stamp duty would be Rs 1,84,800.