Guideline Value for Lucky Land

Lucky Land guideline value

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

How the guideline value of Lucky Land has changed

The guideline value for Lucky Land has seen several revisions over the years. The earliest recorded figure is from the 2017 revision, which was Rs 167 per sq.ft. This value remained unchanged in the 2023 revision, which also recorded Rs 250 per sq.ft. The most recent revision in 2024 retained this figure, showing no change from the previous year.

From the 2017 revision to the 2023 revision, there was a 50% increase. Overall, from the 2017 revision to the 2024 revision, the guideline value has increased by 50% as well. The register has no figures for the years 2002, 2003, 2007, and 2012 for this street.

Guideline values in Nemili_B

In Nemili_B, there are 97 streets under the Sriperumpudur SRO that carry a 2024 guideline value, ranging from Rs 150 to Rs 1,500 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 200 per sq.ft (2024)
• Madhuramman Koil Cross Street: Rs 150 per sq.ft (2024)
• Madhuramman Koil Street: Rs 150 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 200 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 use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Lucky Land?

The Sub Registrar Office that covers Lucky Land is the Sriperumpudur Sub Registrar Office, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role during the registration of property transactions in Nemili_B. It is used to determine the stamp duty and registration fees that must be paid when buying or selling property in the area.

When a property is registered, the guideline value is compared with the sale price, and the higher of the two is used to calculate the applicable duties and fees. This ensures that the government receives the appropriate revenue based on the property's assessed value.

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?

The guideline value has increased from Rs 167 per sq.ft in 2017 to Rs 250 per sq.ft in both 2023 and 2024, marking a 50% increase overall from 2017 to 2024.

What are the other streets in Nemili_B and their guideline values?

Other streets in Nemili_B include Madha Koil Street at Rs 200 per sq.ft, Madhuramman Koil Cross Street and Madhuramman Koil Street at Rs 150 per sq.ft, Lakshmi Amman Koil Street and Manasa Devi Nagar at Rs 250 per sq.ft, and Kumaran Street at Rs 200 per sq.ft.

What fees are associated with buying property in Lucky Land?

When buying property in Lucky Land, you will need to pay stamp duty at 7% and a registration fee at 2% based on the guideline value or sale price, whichever is higher.

Where can I find the Sub Registrar Office for Lucky Land?

The Sub Registrar Office for Lucky Land is located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone. You can find more information through the provided link.