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Guideline Value

Corporate

Guideline Value for LAKSHMI NAGAR 1st Main Road

₹2200/sq.ft.

The guideline value for Lakshmi Nagar 1st Main Road in Maduravoyal village (Virugambakkam SRO, Chennai zone) is Rs 2200 per sq.ft, effective 1 July 2024. It was Rs 2000 per sq.ft from 1 April 2023, a 10% change. The land classification is Residential Class V Type - I. Source: TNReginet guideline value register.

Last updated:

Chennai

Zone

Maduravoyal

Village

Virugambakkam

SRO

Residential Class V Type - I
History
Period Guideline Value
From 1-7-2024 ₹2200 /sq.ft.
From 1-4-2023 ₹2000 /sq.ft.
From 9-6-2017 To 31-3-2023 ₹1340 /sq.ft.
From 1-4-2012 To 8-6-2017 ₹2000 /sq.ft.
From 1-8-2007 To 31-3-2012 ₹300 /sq.ft.
From 1-4-2003 To 31-7-2007 ₹106 /sq.ft.
From 1-4-2002 To 31-3-2003 ₹96 /sq.ft.
Guideline Value Timeline
Guideline Value Comparison

SRO (Sub Registrar Office)

No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037
044-23641794
[email protected]

DRO (District Registrar Office)

Integrated Building For Offices Of The Commercial Taxes And Registration Department, Fanepet, Nandhanam, Chennai - 35.
044-22505552
[email protected], [email protected]

DIG (Deputy Inspector General)

Integrated Building For Offices Of The Commercial Taxes And Registration, Department Fanepet, Nandanam, Chennai - 600 035.
044-29510527
[email protected]
Records for a plot on Lakshmi Nagar 1st Main Road

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LAKSHMI NAGAR 1st Main Road guideline value

The current guideline value of LAKSHMI NAGAR 1st Main Road is Rs 2,200 per sq.ft, effective from 1 July 2024. This road is located in Maduravoyal village and falls under the Virugambakkam SRO. The land classification for this area is Residential Class V Type - I.

How the guideline value of LAKSHMI NAGAR 1st Main Road has changed

The guideline value for LAKSHMI NAGAR 1st Main Road has seen several revisions over the years. In 2002, the guideline value was Rs 96 per sq.ft, which increased to Rs 106 per sq.ft in 2003. Following this, the value rose significantly to Rs 300 per sq.ft in 2007, and then to Rs 2,000 per sq.ft in 2012. However, it dropped to Rs 1,340 per sq.ft in 2017, before rising again to Rs 2,000 per sq.ft in 2023, and finally reaching Rs 2,200 per sq.ft in the 2024 revision.

The changes between these revisions reflect a varied growth pattern. From 2002 to 2003, the increase was +10%. The value surged by +183% from 2003 to 2007. A substantial jump of +567% was noted from 2007 to 2012. However, there was a decrease of -33% from 2012 to 2017. The guideline value then increased by +49% from 2017 to 2023, and finally, a +10% rise was recorded from 2023 to 2024. Overall, from 2002 to 2024, the guideline value has increased by +2192%.

Guideline values in Maduravoyal

In Maduravoyal, there are 636 streets under the Virugambakkam SRO that carry a 2024 guideline value ranging from Rs 2,200 to Rs 6,050 per sq.ft. The median value for these streets is Rs 3,050 per sq.ft, placing LAKSHMI NAGAR 1st Main Road below this median.

Stamp duty and registration fee for property in LAKSHMI NAGAR 1st Main Road

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value amounts to Rs 22,00,000. The stamp duty at 7% would be Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, making the total fees together Rs 1,98,000. Please note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers LAKSHMI NAGAR 1st Main Road?

The LAKSHMI NAGAR 1st Main Road is covered by the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037. You can find your SRO for more information.

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

The guideline value is an essential factor during property transactions in Maduravoyal. It serves as a benchmark for determining the minimum value at which a property can be registered. Buyers and sellers must consider this value to ensure compliance with the local regulations.

When a property is sold, the guideline value helps in calculating the applicable stamp duty and registration fees. This ensures that both parties are aware of the financial implications of the transaction, making it a crucial aspect of the buying and selling process.

Frequently asked questions

What is the current guideline value of LAKSHMI NAGAR 1st Main Road?

The current guideline value of LAKSHMI NAGAR 1st Main Road is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 96 per sq.ft in 2002 to Rs 2,200 per sq.ft in 2024, reflecting an overall increase of +2192% over the years.

What are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 22,00,000, the stamp duty would be Rs 1,54,000, and the registration fee would be Rs 44,000, totaling Rs 1,98,000.

Which Sub Registrar Office covers LAKSHMI NAGAR 1st Main Road?

The Virugambakkam Sub Registrar Office covers LAKSHMI NAGAR 1st Main Road, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.

What is the median guideline value in Maduravoyal?

The median guideline value for streets in Maduravoyal is Rs 3,050 per sq.ft, with LAKSHMI NAGAR 1st Main Road's value being below this median at Rs 2,200 per sq.ft.