Guideline Value for Lurth Madha Street

Lurth Madha Street guideline value

The current guideline value of Lurth Madha Street is Rs 1,980 per sq.ft, effective from 1 July 2024. This street is located in Pammal village, under the Pammal SRO, with a land classification of Residential Class II Type - II.

How the guideline value of Lurth Madha Street has changed

The guideline value for Lurth Madha Street has seen significant changes over the years. In 2002, the value was Rs 205 per sq.ft. It increased to Rs 232 per sq.ft in 2003, marking a 13% rise. The value further increased to Rs 360 per sq.ft in 2007, which was a 55% increase. By 2017, the guideline value reached Rs 1,206 per sq.ft, reflecting a substantial 235% increase from 2007. The 2023 revision set the value at Rs 1,800 per sq.ft, a 49% increase from 2017. The most recent revision in 2024 has raised it to Rs 1,980 per sq.ft, which is a 10% increase from the previous year.

It is important to note that the register has no figure for Lurth Madha Street in the 2012 revision.

Guideline values in Pammal

Pammal village has a total of 926 streets under the Pammal SRO, with the 2024 guideline values ranging from Rs 880 to Rs 3,300 per sq.ft. The median guideline value in Pammal is Rs 2,090 per sq.ft, placing Lurth Madha Street's 2024 figure below this median.

• Lurthu Madha Street, Nagelkeni: Rs 1,980 per sq.ft (2024)
• Maamalan Street: Rs 1,760 per sq.ft (2024)
• Madavi Street / Muthamzhi Nagar: Rs 2,475 per sq.ft (2024)
• Madha Koil Street: Rs 1,980 per sq.ft (2024)
• Loganathan Street / Hindustan Lever Colony: Rs 2,530 per sq.ft (2024)
• Madhakoil Street, Nagelkeni: Rs 1,980 per sq.ft (2024)

Stamp duty and registration fee for property in Lurth Madha Street

For a 1,000 sq.ft plot at the current rate of Rs 1,980 per sq.ft, the guideline value amounts to Rs 19,80,000. The stamp duty at 7% would be Rs 1,38,600, and the registration fee at 2% would be Rs 39,600, bringing the total to Rs 1,78,200. 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 Lurth Madha Street?

Lurth Madha Street falls under the jurisdiction of the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, within the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a critical factor when registering property transactions in Pammal. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring that the government receives appropriate revenue through stamp duties and registration fees.

When buying or selling property, the guideline value helps both buyers and sellers understand the official valuation of the property. It is essential to be aware of the current guideline value to avoid discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Lurth Madha Street?

The current guideline value of Lurth Madha Street is Rs 1,980 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 205 per sq.ft in 2002 to Rs 1,980 per sq.ft in 2024, marking an overall increase of 866% over the years.

What are the stamp duty and registration fees for property in Lurth Madha Street?

For a property valued at Rs 19,80,000, the stamp duty would be Rs 1,38,600, and the registration fee would be Rs 39,600, totaling Rs 1,78,200.

Which Sub Registrar Office covers Lurth Madha Street?

Lurth Madha Street is covered by the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075.

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

The guideline value is used as a minimum benchmark for property registration, ensuring that appropriate stamp duties and registration fees are collected by the government during property transactions.