Guideline Value for Lucky Land

Lucky Land guideline value

The current guideline value of Lucky Land, located in Santhavellur village, is Rs 305 per sq.ft, effective from 1 July 2024. This property falls under the Residential Class I Type - I land classification and is registered with the Sunguvarchattram SRO.

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 2012 revision, which was Rs 300 per sq.ft. This was followed by a decrease to Rs 201 per sq.ft in the 2017 revision. However, the value increased significantly to Rs 300 per sq.ft in the 2023 revision and further rose to Rs 305 per sq.ft in the 2024 revision, marking a 2% increase from the previous year.

Between the 2017 and 2023 revisions, the guideline value increased by 49%. The overall change from the 2012 revision to the 2024 revision is a modest increase of 2%. It is important to note that there are no recorded figures for the years 2002, 2003, and 2007 for this particular street.

Guideline values in Santhavellur

In Santhavellur, there are 63 streets under the Sunguvarchattram SRO, with guideline values ranging from Rs 200 to Rs 2,800 per sq.ft. The median guideline value for these streets is Rs 500 per sq.ft, placing Lucky Land's 2024 figure below this median.

• Mahalakshmi Nagar: Rs 400 per sq.ft (2024)
• Kumaran Nagar: Rs 305 per sq.ft (2024)
• Kullakkarai Street: Rs 300 per sq.ft (2024)
• Mariamman Kovil Street: Rs 250 per sq.ft (2024)
• Krishna Nagar: Rs 600 per sq.ft (2024)
• Maruthi Avenue: Rs 700 per sq.ft (2024)

Stamp duty and registration fee for property in Lucky Land

For a 1,000 sq.ft plot at the current guideline value of Rs 305 per sq.ft, the total guideline value amounts to Rs 3,05,000. The stamp duty at 7% would be Rs 21,350, and the registration fee at 2% would be Rs 6,100, bringing the total charges to Rs 27,450. It is important to 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 Lucky Land?

The Sub Registrar Office that covers Lucky Land is the Sunguvarchattram Sub Registrar Office, located at Vadivamal Nagar Kandigai Road, opposite Caparo Company, Sunguvarchatram, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor during the registration of property transactions in Santhavellur. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the property is not undervalued during the sale.

When buying or selling property, the guideline value helps in calculating the stamp duty and registration fees, which are mandatory costs associated with the transaction. This ensures transparency and fairness in property dealings in the region.

Frequently asked questions

What is the current guideline value of Lucky Land?

The current guideline value of Lucky Land is Rs 305 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 300 in 2012 to Rs 201 in 2017, then to Rs 300 in 2023, and finally to Rs 305 in 2024. This shows a significant increase from 2017 to 2023 and a modest increase from 2012 to 2024.

What is the median guideline value in Santhavellur?

The median guideline value for the 63 streets in Santhavellur is Rs 500 per sq.ft, with Lucky Land's 2024 figure being below this median.

What are the stamp duty rates applicable?

The stamp duty rate is 7% of the guideline value, while the registration fee is 2%. These are calculated based on the higher of the guideline value or the sale price.

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

The Sub Registrar Office for Lucky Land is the Sunguvarchattram Sub Registrar Office, located at Vadivamal Nagar Kandigai Road, opposite Caparo Company, Sunguvarchatram, Chengalpattu registration zone.