Guideline Value for Lurudhu Ammal Nagar

Lurudhu Ammal Nagar guideline value

The current guideline value of Lurudhu Ammal Nagar is Rs 1,100 per sq.ft, effective from 1 July 2024. This area is located in Tharapakkam village under the Pammal Sub Registrar Office (SRO) and is classified as Residential Class I Type - I.

How the guideline value of Lurudhu Ammal Nagar has changed

The guideline value for Lurudhu Ammal Nagar has seen several revisions over the years. The 2017 revision set the value at Rs 670 per sq.ft. This increased significantly to Rs 1,000 per sq.ft in the 2023 revision, marking a 49% rise. The most recent revision in 2024 has further increased the value to Rs 1,100 per sq.ft, which is a 10% increase from the previous year.

Overall, from the 2017 revision to the 2024 revision, the guideline value has increased by 64%. It is important to note that there are no figures available for the years 2002, 2003, 2007, and 2012 in the register for this street.

Guideline values in Tharapakkam

In Tharapakkam, there are 47 streets under the Pammal SRO that carry a 2024 guideline value, ranging from Rs 880 to Rs 5,000 per sq.ft. The median value for these streets is Rs 1,100 per sq.ft, which is the same as the current guideline value for Lurudhu Ammal Nagar.

• Madha Koil Street: Rs 880 per sq.ft (2024)
• Lakshmi Nagar: Rs 1,100 per sq.ft (2024)
• Mariamman Koil Street: Rs 1,100 per sq.ft (2024)
• Masilamani Garden: Rs 880 per sq.ft (2024)
• Mettu Street: Rs 880 per sq.ft (2024)
• M.G.R. Street: Rs 880 per sq.ft (2024)

Stamp duty and registration fee for property in Lurudhu Ammal Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,100 per sq.ft, the total guideline value would be Rs 11,00,000. The stamp duty at 7% would amount to Rs 77,000, and the registration fee at 2% would be Rs 22,000, totaling Rs 99,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use the stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Lurudhu Ammal Nagar?

The Sub Registrar Office covering Lurudhu Ammal Nagar is the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process of property transactions in Tharapakkam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, the guideline value is compared with the sale price. The higher of the two values is used to calculate the applicable stamp duty and registration fees, which are mandatory for legal ownership transfer.

Frequently asked questions

What is the current guideline value of Lurudhu Ammal Nagar?

The current guideline value of Lurudhu Ammal Nagar is Rs 1,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 670 per sq.ft in 2017 to Rs 1,100 per sq.ft in 2024, marking an overall increase of 64% over this period.

What are the stamp duty rates for properties in Lurudhu Ammal Nagar?

The stamp duty for properties in Lurudhu Ammal Nagar is charged at 7% of the guideline value or the sale price, whichever is higher.

Where is the Pammal Sub Registrar Office located?

The Pammal Sub Registrar Office is located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075.

What is the median guideline value for streets in Tharapakkam?

The median guideline value for streets in Tharapakkam is Rs 1,100 per sq.ft, which is the same as the current guideline value for Lurudhu Ammal Nagar.