Guideline Value for Lurdhu Garden

Lurdhu Garden guideline value

The current guideline value of Lurdhu Garden, located in Vadaperumbakkam village under the Redhills SRO, is Rs 1,003 per sq.ft, effective from 1 July 2024. This land falls under the Residential Class I Type - I classification.

How the guideline value of Lurdhu Garden has changed

The guideline value of Lurdhu Garden has undergone several revisions over the years. In the 2007 revision, the value was set at Rs 500 per sq.ft. This increased to Rs 800 per sq.ft in the 2012 revision, marking a 60% rise. However, in the 2017 revision, the value decreased to Rs 536 per sq.ft, reflecting a 33% drop. The most recent revision in 2024 shows a significant increase to Rs 1,003 per sq.ft, which is an 87% rise from the 2017 figure.

Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 101%. It is important to note that there are no figures available for the years 2023, 2003, and 2002 for this street.

Guideline values in Vadaperumbakkam

In Vadaperumbakkam, there are 77 streets under the Redhills SRO that carry a 2024 guideline value ranging from Rs 1,000 to Rs 1,300 per sq.ft. The median guideline value for these streets is Rs 1,003 per sq.ft, which is equal to the current value for Lurdhu Garden. Below are the guideline values for other streets in Vadaperumbakkam:

• Madhavaram-Redhills Road: Rs 1,000 per sq.ft (2024)
• Mahalakshmi Nagar: Rs 1,006 per sq.ft (2024)
• Lakshmi Nagar: Rs 1,006 per sq.ft (2024)
• Meenakshi Nagar: Rs 1,006 per sq.ft (2024)
• Mumthaj Nagar: Rs 1,006 per sq.ft (2024)
• Kanniamman Nagar Extn.: Rs 1,003 per sq.ft (2024)

Stamp duty and registration fee for property in Lurdhu Garden

For a 1,000 sq.ft plot at the current guideline value of Rs 1,003 per sq.ft, the total guideline value would be Rs 10,03,000. The stamp duty, charged at 7%, would amount to Rs 70,210, and the registration fee, charged at 2%, would be Rs 20,060. Together, the total cost for stamp duty and registration would be Rs 90,270. 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 Lurdhu Garden?

The Sub Registrar Office that covers Lurdhu Garden is the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process of property transactions in Vadaperumbakkam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is aligned with the prevailing market standards set by the government.

When buying or selling property, the guideline value informs the stamp duty and registration fees, which are calculated based on this value. Buyers must ensure that they are aware of the guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Lurdhu Garden?

The current guideline value of Lurdhu Garden is Rs 1,003 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 500 per sq.ft in 2007 to Rs 1,003 per sq.ft in 2024, reflecting an overall increase of 101% over the years.

What is the land classification for Lurdhu Garden?

Lurdhu Garden is classified under Residential Class I Type - I, indicating its suitability for residential development.

Where can I find the registration office for Lurdhu Garden?

The registration office for Lurdhu Garden is the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.

How is stamp duty calculated for properties in Lurdhu Garden?

Stamp duty for properties in Lurdhu Garden is calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot, the total guideline value would be Rs 10,03,000, leading to a stamp duty of Rs 70,210.