Guideline Value for Muthulakshmi Salai (L.B. Road)

Muthulakshmi Salai (L.B. Road) guideline value

The current guideline value of Muthulakshmi Salai (L.B. Road) is Rs 12,700 per sq.ft, effective from 1 July 2024. This street is located in Urur village under the Adayar SRO, classified as Residential Special Type - I.

How the guideline value of Muthulakshmi Salai (L.B. Road) has changed

The guideline value has undergone several revisions since 2012. In 2012, the value was Rs 11,500 per sq.ft, which decreased to Rs 7,705 per sq.ft in 2017, marking a decline of 33%. However, from 2017 to 2023, the value increased significantly to Rs 11,500 per sq.ft, a rise of 49%. The most recent revision in 2024 set the value at Rs 12,700 per sq.ft, reflecting a 10% increase from the previous year.

It is important to note that there are no figures available for the years 2002, 2003, and 2007 in the register for this street. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Urur

In Urur, there are 176 streets under the Adayar SRO with a 2024 guideline value ranging from Rs 4,400 to Rs 15,400 per sq.ft. The median value is Rs 6,600 per sq.ft, placing Muthulakshmi Salai (L.B. Road) above this median.

• Meyyammai High School: Rs 6,600 per sq.ft (2024)
• Meenavar Gudisai: Rs 4,400 per sq.ft (2024)
• Padmanaba Nagar 1st Street: Rs 7,700 per sq.ft (2024)
• Padmanaba Nagar 2nd Street: Rs 7,700 per sq.ft (2024)
• Padmanaba Nagar 3rd Street: Rs 7,700 per sq.ft (2024)
• Padmanaba Nagar 4th Street: Rs 7,700 per sq.ft (2024)

Stamp duty and registration fee for property in Muthulakshmi Salai (L.B. Road)

For a 1,000 sq.ft plot at the current guideline value of Rs 12,700 per sq.ft, the total guideline value amounts to Rs 1,27,00,000. The stamp duty at 7% would be Rs 8,89,000, and the registration fee at 2% would be Rs 2,54,000, bringing the total fees to Rs 11,43,000. It is important to note that duty is charged on the guideline value or the sale price, whichever is higher. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Muthulakshmi Salai (L.B. Road)?

The Sub Registrar Office that covers Muthulakshmi Salai (L.B. Road) is the Adayar Sub Registrar Office, located at 51, Kamaraj Avenue, Second Street, Adyar, Chennai-20. You can find your SRO for more information.

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

The guideline value is a crucial factor during the registration of property transactions in Urur. 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 helps both parties understand the official value of the property. This value is used to calculate the applicable stamp duty and registration fees, which are mandatory during the property transfer process.

Frequently asked questions

What is the current guideline value of Muthulakshmi Salai (L.B. Road)?

The current guideline value of Muthulakshmi Salai (L.B. Road) is Rs 12,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 11,500 per sq.ft in 2012 to Rs 7,705 per sq.ft in 2017, then to Rs 11,500 per sq.ft in 2023, and finally to Rs 12,700 per sq.ft in 2024.

What is the land classification of Muthulakshmi Salai (L.B. Road)?

The land classification of Muthulakshmi Salai (L.B. Road) is Residential Special Type - I.

What are the stamp duty and registration fees for property in Muthulakshmi Salai (L.B. Road)?

The stamp duty is calculated at 7% of the guideline value, and the registration fee is 2%. For a 1,000 sq.ft plot, the total fees amount to Rs 11,43,000.

Which Sub Registrar Office covers this area?

The Adayar Sub Registrar Office covers Muthulakshmi Salai (L.B. Road), located at 51, Kamaraj Avenue, Second Street, Adyar, Chennai-20.