Guideline Value for Lucky Land

Lucky Land guideline value

The current guideline value of Lucky Land in Nemili village is Rs 250 per sq.ft, effective from 1 July 2024. This property falls under the Sriperumpudur SRO and is classified as Residential Class II Type - I.

How the guideline value of Lucky Land has changed

The guideline value for Lucky Land has seen several revisions over the years. In 2007, the value was Rs 50 per sq.ft, which increased significantly to Rs 250 per sq.ft in 2012. However, it dropped to Rs 167 per sq.ft in 2017, before returning to Rs 250 per sq.ft in both 2023 and the upcoming 2024 revision. The register has no figures for this street in 2002 and 2003.

From 2017 to 2023, the guideline value increased by 50%, while there was a notable increase of 400% from 2007 to 2012. Overall, from 2007 to 2024, the guideline value has increased by 400%, indicating a stable value of Rs 250 per sq.ft in the most recent revisions.

Guideline values in Nemili

In Nemili, there are 66 streets under the Sriperumpudur SRO with a 2024 guideline value ranging from Rs 150 to Rs 1,000 per sq.ft. The median value is Rs 250 per sq.ft, making Lucky Land's 2024 figure equal to this median.

• Madha Koil Street: Rs 210 per sq.ft (2024)
• Lakshmi Amman Koil Street: Rs 250 per sq.ft (2024)
• Manasa Devi Nagar: Rs 250 per sq.ft (2024)
• Kumaran Street: Rs 210 per sq.ft (2024)
• Marshal Share: Rs 300 per sq.ft (2024)
• Marthamman Koil Street: Rs 210 per sq.ft (2024)

Stamp duty and registration fee for property in Lucky Land

For a 1,000 sq.ft plot at the current rate of Rs 250 per sq.ft, the guideline value amounts to Rs 2,50,000. The stamp duty at 7% would be Rs 17,500, and the registration fee at 2% would be Rs 5,000, totaling Rs 22,500. Duty is charged on the guideline value or the sale price, whichever is higher. You can also use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Lucky Land?

The Lucky Land property falls under the jurisdiction of the Sriperumpudur Sub Registrar Office, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone. You can find your SRO for further assistance.

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

The guideline value is a crucial factor during the registration of property transactions in Nemili. It serves as a benchmark for determining the stamp duty and registration fees applicable when buying or selling property.

When a property is registered, the stamp duty is calculated based on the guideline value or the sale price, whichever is higher. This ensures that the government receives appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Lucky Land?

The current guideline value of Lucky Land is Rs 250 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Since 2007, the guideline value has increased from Rs 50 per sq.ft to Rs 250 per sq.ft in 2024, with various fluctuations in between.

What are the other guideline values in Nemili?

In Nemili, the guideline values range from Rs 150 to Rs 1,000 per sq.ft, with the median value being Rs 250 per sq.ft.

How is the stamp duty calculated for properties in Lucky Land?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For a 1,000 sq.ft plot, this amounts to Rs 17,500 based on the current guideline value.

Which office handles property registrations in Lucky Land?

The Sriperumpudur Sub Registrar Office handles property registrations for Lucky Land, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone.