Guideline Value for Lodd Govindas Salai

Lodd Govindas Salai guideline value

The current guideline value of Lodd Govindas Salai is Rs 6,600 per sq.ft, effective from 1 July 2024. This street is located in Triplicane village, under the Triplicane SRO, and is classified as Residential Class I Type - I.

How the guideline value of Lodd Govindas Salai has changed

The guideline value for Lodd Govindas Salai has undergone several revisions over the years. Starting from Rs 1,009 per sq.ft in 2002, it increased to Rs 1,107 per sq.ft in 2003, marking a rise of 10%. The value then saw a modest increase to Rs 1,145 per sq.ft in 2007, which was a 3% change. A significant jump occurred in 2012 when the value rose to Rs 6,000 per sq.ft, reflecting a 424% increase from the previous figure. The 2023 revision maintained this value at Rs 6,000 per sq.ft, with the latest revision in 2024 setting the guideline value at Rs 6,600 per sq.ft, a 10% increase from 2023.

It is noteworthy that there was no figure recorded for Lodd Govindas Salai in the 2017 revision. Overall, from 2002 to 2024, the guideline value has increased by 554%.

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 value is Rs 6,600 per sq.ft, which is the same as the guideline value for Lodd Govindas Salai.

• Lock Nagar Huts (Dr. Navalar Nagar): Rs 2,700 per sq.ft (2024)
• Lathuram Street: Rs 5,500 per sq.ft (2024)
• 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)
• Mahdi Hussain Khan Bahadur St: Rs 6,600 per sq.ft (2024)

Stamp duty and registration fee for property in Lodd Govindas Salai

For a 1,000 sq.ft plot at the current guideline value of Rs 6,600 per sq.ft, the total guideline value would be Rs 66,00,000. The stamp duty at 7% would be Rs 4,62,000, and the registration fee at 2% would be Rs 1,32,000, bringing the total cost for these fees to Rs 5,94,000. 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 further calculations.

Which Sub Registrar Office covers Lodd Govindas Salai?

The Sub Registrar Office that covers Lodd Govindas Salai is the Triplicane Sub Registrar Office, located at No.182 Bharati Salai (Pycrafts Road), Royapettah, Chennai-600014. To find your specific SRO, you can visit find your SRO.

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 property registration.

When a property is sold, the buyer must pay stamp duty based on the higher of the guideline value or the agreed sale price. This ensures that the revenue collected by the government reflects the true value of the property being transacted.

Frequently asked questions

What is the current guideline value of Lodd Govindas Salai?

The current guideline value of Lodd Govindas Salai is Rs 6,600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen significant increases, from Rs 1,009 per sq.ft in 2002 to Rs 6,600 per sq.ft in 2024, marking an overall increase of 554%.

What are the stamp duty and registration fees for properties in Lodd Govindas Salai?

For a property valued at Rs 66,00,000, the stamp duty would be Rs 4,62,000, and the registration fee would be Rs 1,32,000, totaling Rs 5,94,000.

Which Sub Registrar Office covers Lodd Govindas Salai?

The Triplicane Sub Registrar Office, located at No.182 Bharati Salai (Pycrafts Road), Royapettah, Chennai-600014, covers Lodd Govindas Salai.

What is the significance of the guideline value in property transactions?

The guideline value is essential for determining the stamp duty and registration fees during property transactions. It ensures that the fees reflect the property's value, whether it is based on the guideline value or the sale price, whichever is higher.